The City of Penticton has published its 2024 Annual Report and Statement of Financial Information (SOFI), which will be reviewed at the June 24 Council meeting. These reports reflect the City’s ongoing commitment to transparency, fiscal responsibility and delivering high-quality services to residents.
The 2024 Annual Report outlines the City’s achievements in advancing Council’s strategic priorities of building a safe, resilient, livable and accessible community. It includes audited financial statements, departmental updates and highlights from major initiatives.
Among the key projects in 2024:
• Community Safety Buildings Project: Continued progress on this top-priority initiative under the Civic Places and Spaces strategy, aimed at modernizing and consolidating emergency services infrastructure to better serve the community.
• Public Safety and Partnerships Division: A new division was created to implement recommendations from the City’s Community Safety Review, enhancing coordination and response across departments.
• Integrated Crisis Response Team: The RCMP launched this specialized team with dedicated personnel to support individuals in crisis and improve public safety outcomes.
• Arena Feasibility Study: Work began on a comprehensive study to assess the future of Penticton’s four arenas, incorporating feedback from user groups to guide long-term planning.
• Transportation Improvements: Upgrades to the Point Intersection and Kinney Avenue continued, aimed at reducing congestion and improving safety for all road users.
• Accessibility and Inclusion: The City advanced its Accessibility Plan, promoting diversity, equity and inclusion through infrastructure and policy updates.
• Urban Forest Management: Implementation of the CommuniTREE Plan progressed, supporting the health and sustainability of Penticton’s urban tree canopy.
• Digital Transformation: The City launched a major modernization initiative, including the transition to Microsoft 365 for improved data security and the introduction of e-Scribe to streamline meeting management.
“The 2024 Annual Report demonstrates how our financial decisions directly support the well-being of our community,” said Angela Campbell, Chief Financial Officer. “Whether it’s investing in public safety, enhancing accessibility, or modernizing infrastructure, every dollar is spent with the goal of improving quality of life for Penticton residents. This report reflects our commitment to transparency and to building a city that is safe, inclusive and resilient for everyone.”
Statement of Financial information (SOFI)
The Statement of Financial Information (SOFI) is another tool available to provide financial information to the public. It assists the City in being transparent and accountable to our residents, however it focuses on the quantitative characteristics of the operations with no emphasis on the qualitative characteristics of municipal services. A comparison of per capita municipal taxes allows us to assess if our taxation rate is reasonable for the services provided.
The data shows that Penticton’s municipal residential taxes per capita of $887 comes in at the provincial average among other communities with a population over 15,000. This number is determined by the total property taxation for the fiscal year divided by the 2023 BC population estimates.
Penticton is also comparable when compared to other Okanagan communities.
• West Kelowna - $839
• Kelowna - $864
• Vernon - $821
• Lake Country - $1,089
These communities were selected as they have a population greater than 15,000, which is the threshold for paying 90 per cent of policing costs.
“Our goal is to ensure residents understand how their tax dollars are being spent and the value they receive in return,” said Karri Stoppler, Manager of Finance. “Penticton’s municipal tax per capita is right at the provincial average, which demonstrates that we are delivering quality services efficiently and responsibly.”
Stoppler notes a net total of 37 additional employees were included in the 2024 over $75,000 list – 11 from management, 26 from CUPE, -1 from the IAFF and one from IBEW.
Fluctuations in the over/under $75k list are not generally related to the number of employees in the City, but is instead impacted by cost-of-living increases, overtime changes, retirements and positions made vacant and replaced. The 2024 statement reflects significant impacts from collective agreements as a result of 2024 bargaining with associated pay adjustments and retroactive pay. The $75k threshold for reporting was established by the provincial government in 2002.
The Statement of Financial Information is part of the agenda for the June 24 regular council meeting. The full agenda is available at Penticton.ca.