White Rock's revenue from development permits is projected to hit $450

White Rock's revenue from development permits is projected to hit $450

White Rock development offsets shortfalls

The City of White Rock's projected revenue from development permits is $450,000 by the end of 2011.

Poor weather is anticipated to take a $55,200 chunk out of White Rock’s 2011 pay-parking revenue.

The point – softened by news that the loss is expected to drop to $19,000 due to savings in related operation costs – was one of several noted last month by the city’s financial services director.

In presenting her third-quarter financial report to the city finance committee Oct. 24, Sandra Kurylo predicted a preliminary budget surplus of $190,000 for the year overall, largely as a result of development permits.

As of Sept. 30, the city had issued 156 building permits, compared to 145 one year earlier. Projected revenue from that source by the end of 2011 is $450,000 – $160,000 more than budgeted.

Construction value of those permits was nearly $59 million – about $25 million higher than for the same period last year.

The third-quarter report projects the city to be over-budget in its green-waste program (by $108,200), operating expenditures of the municipal engineering and operations department ($27,000), legal costs ($80,000) and bylaw enforcement ($68,000).

Kurylo notes the latter is a result of a miscalculation of one of the costs associated with a change to in-house parking and other bylaw enforcement. The amount is expected to be offset by smaller cost-savings.

Kurylo recommended a projected surplus of $166,000 in the RCMP contract budget be set aside to offset an invoice expected for approximately $203,000 (see sidebar).

In response to questions regarding the green-waste program, she confirmed $179,000 was the original budget for it; it is now projected to cost about $287,000.

City manager Peggy Clark noted the overrun is actually good news, as it reflects on the level of participation.

“The uptake has been far greater than we planned,” she said.

In addition, the city’s investment income is $133,700 higher than it was at this time last year; the leisure services budget is projected to have $56,000 savings by year-end; and, the $279,364 in development cost charges received so far this year is more than double that received in the same period last year.

 

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