Budgets and Finances

The Peace River Regional District manages its budgets through a detailed and structured process that ensures funding is allocated appropriately across various services and functions. The PRRD’s budgeting process ensures that we allocate funds efficiently, with taxes tied to the services each property receives. This approach allows the PRRD to meet the diverse needs of its communities while maintaining transparency and accountability. By focusing on service-specific budgets and long-term planning, the PRRD can address growing demands, maintain infrastructure and support essential services.

Service-Based Taxation

Unlike municipalities, each of our services has its own service area, and only properties within that area are taxed for that service. This means taxes vary depending on which services a property receives, including, but not limited to:

• Building and development
• Emergency services
• Garbage and recycling
• Parks and campgrounds
• Water and sewer services

Budget Adjustments

The PRRD may adjust budgets after initial approval, often due to changes in surplus funds carried over from the previous year. The Regional Board must present any changes requested as a resolution, including both the revenue source and the corresponding expense.

Financial Plans and Reporting

The PRRD prepares financial documents including a five-year financial plan, which is updated annually. This plan outlines projected budgets and requisitions for the next five years, ensuring long-term financial stability and planning. We provide detailed reports and graphs to show year-over-year changes in the budget, requisitions and assessments.