city of west kelowna
CITY OF
2023 and 2024 Budget versus Actual as shown in the Audited Financial Statements
ABOUT THIS DOCUMENT
The Rose Valley Water Treatment Plant represents the City of West Kelowna’s single largest capital investment to date. This essential project provides clean, safe, and reliable drinking water to our community.
As this significant undertaking reaches its financial and operational milestones, our residents have rightly called for transparency around the project’s costs, including a detailed breakdown of budgets versus actuals, amortization, and reserves.
We recognize the complexity of this information and the importance of making it accessible and accountable.
In response, and following the recent publication of the City’s 2024 Annual Report and audited financial statements, on June 10 Council received comprehensive reporting on the plant funding and Rose Valley Water Account reconciliation. This document is intended to help provide supplemental information for clarity.
ROSE VALLEY WATER TREATMENT PLANT
USER FEE DETAILS
Please note: The arrows are to show where the numbers from above are included.
WATER OPERATING EXPENSES
Water fund expenditures exceeded budget by $6.2 million in 2024. That drops by $2.8 million when accounting for non-cash entries for amortization. Additionally, $1.1 million is for interest on temporary borrowing for the Rose Valley Water Treatment Plant and $700,000 went towards water meter replacements. With pricing changes in the year, the water fund saw $688,000 in unexpected increases in chemical costs and $440,000 in increased contract expenses. As surpluses are regularly transferred to reserve in both the water and sewer funds, deficits ultimately reduce any additional amount that may have been transferred to the reserve.
AMORTIZATION DETAILS
Please note: Amortization was included in the Actual but not in the Budgeted.
DEVELOPMENT COST CHARGES
ROSE VALLEY RESERVES
Although we still have $10 million in reserves, we anticipate spending most of it in 2026.
