Taxes going up

Cache Creek Council passed its 2012 budget with another 2.5 per cent increase.

Cache Creek Council adopted its budget for 2012 at its Apr. 10 meeting, with a two and a half per cent increase planned this year and every year until at least 2016.

Council approved a $4.8 million budget, similar to previous years with the exception that revenue from the landfill is less than half what it used to be.

Taxes and utitility rates have been rising slowly but steadily to make up for the loss of income, but Council warns that complete loss of landfill revenue will result in a review of all Village rates and charges.

The budget’s accumulated surplus has already fallen drastically over the years: from $1.3 million in 2005 to $277,414 in 2011. It is expected to drop to $27,900 this year.

Landfill revenues ($328,418) still make up 20 per cent of the Village’s revenue, but grants ($1,140,898) make up 43 per cent. User Fees and Charges bring in 17 per cent of the rvenue for this budget, with Property Taxes ($328,418) bringing in 12.5 per cent.

Included in the budget expenses is slightly over $1 million in capital expenditures for work on roads, buildings and other structures.