Financial Planning

View the SRD's current and past financial plans.

The Strathcona Regional District (SRD) Board has officially approved its 2025-2029 Financial Plan, reaffirming its commitment to strategic investment, responsible financial management, and advancing the Board’s priorities in community well-being, climate resilience, and good governance.

The Financial Plan serves as a guiding framework for the Regional District’s operations and strategic initiatives, ensuring the delivery of essential services while preparing for future growth and sustainability. The plan reflects extensive consultation, beginning with staff-level preparations in the fall, followed by workshops and deliberations with the Board of Directors. View more info on the budgeting process – HERE >

Despite inflationary pressures and rising operational costs, the SRD remains dedicated to responsible growth and enhancing its communities.

The table above shows the Average SRD 2025 Tax requestion per home based on assessed home values in each electoral area.

KEY INVESTMENTS INCLUDE:

Disaster risk reduction and climate adaptation – Senior government grants will fund projects focused on wildfire preparedness, climate adaptation, and environmental responsibility.
Healthcare accessibility and workforce housing– Investments in the Just Like Home Lodge and a newly established Healthcare Workforce Housing initiative will support patients traveling to Campbell River for specialized medical care while addressing critical workforce housing needs in the region.
Community recreation infrastructure– The REC-REATE project will modernize and expand the aging Strathcona Gardens facility, providing state-of-the-art sports and rehabilitation amenities.
Governance and community engagement– Dedicated funding will support First Nations reconciliation efforts, public engagement improvements, and professional development for Board members and staff.

Learn more about the key investments by viewing the Budget in Brief – HERE >

REVISED OVERHEAD ALLOCATION POLICY

Under the prior allocation policy, Electoral Areas were required to fund approximately 4/9ths of the costs associated with managing electoral area services, with the remaining 5/9ths covered by municipal members.

The SRD’s overhead allocation policy was analysed and a new method was created. The changes are reflected in the 2025–2029 Financial Plan. This new approach adjusts how general administrative costs are distributed among all regional district participants.

Under the revised model, Electoral Areas now collectively fund 100% of their own management costs. Typically, any local government is responsible for covering its own management costs. For example, when a municipality incurs management expenses, those costs are fully funded by taxpayers within the boundaries of that municipality, the new policy attempts to apply this principal in the SRD’s Electoral Areas

Costs that are considered regional in nature continue to be shared equally among all members, with each partner contributing 1/9th, consistent with the previous allocation method. Cost that are considered sub-regional in nature will be shared equally among the members withing those subregions.

Learn more about SRD’s Overhead Allocation – Significant budgetary items and trends HERE>

HOUSEHOLD TAX IMPACTS BY ELECTORAL AREA

Area A (Kyuquot/Nootka-Sayward) – View Area A Tax Requisition Detail – HERE >
- Will see a 4% increase ($30 per average home) primarily due to the change in the overhead allocation policy and increased costs associated with funding the Vancouver Island Regional Library (VIRL). A regional partnership between the Village of Sayward and Electoral Area A will improve cost-sharing and operational efficiency in the Fire Service.
Area B (Cortes Island and surrounding archipelago)– View Area B Tax Requisition Detail – HERE >
- A 4% increase ($64 per average home) is expected mainly due to the change in the overhead allocation policy and increased costs associated with funding the Vancouver Island Regional Library (VIRL).
Area C (Discovery Islands and Mainland Inlets)– View Area C Tax Requisition Detail – HERE >
- A 30% increase ($193 per average home) in part due to a change of allocation distribution within the electoral area and funding for enhanced community hall, library and 9-1-1 service levels.
Area D (Oyster Bay – Buttle Lake)– View Area D Tax Requisition Detail – HERE >
- A 4% increase ($96 per average home), largely due to increased funding for recreation, enhanced transit and library service levels.

The change in overhead allocation also provides for a reduction of costs for several services that are not funded by taxation so some services may see a reduction to current or future user fees.