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Regional Hospital District sets 2015 budget

The Comox-Strathcona Regional Hospital District (CSRHD) has adopted a 2015 budget of $122 million.

The budget will see an estimated tax rate of $84 per $100,000 of assessed property value.

This rate reflects the hospital board’s strategy of having implemented a gradual tax rate over the past six years, which has resulted in less money being financed for the North Island Hospitals Project, as well as in a shorter borrowing term for that financing.

The CVRD’s manager of financial planning, Wendy Byrne, says where the majority of the funds will go.

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At the beginning of 2015, the reserve balance was $29.2 million.

Once expenditures on the North Island Hospitals Project have been made this year, the reserves will be fully expended.

In addition to providing 40% of capital funding for the new hospitals, the CSRHD has also allocated $883,677 for new capital projects and equipment in the existing hospitals in the Comox Valley and Campbell River, and in other facilities supported by the regional hospital district.

Also, approximately $988,411 is being carried forward for previous years’ projects not yet completed.

(COURTESY OF THE COMOX VALLEY RD)

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