The Greater Vernon Advisory Committee’s budget for Vernon’s performing arts centre is seeking an increase of more than half a million dollars for 2024.
The proposed 2024 budget is $1,429,506, up from $887,543 in 2023.
GVAC directors will consider the increase during their budget meeting on Jan. 10.
The centre’s proposed 2024 operating budget is $614,506 ($777,543 in 2023), while the capital budget is $815,000 ($110,000 in 2023).
That would require a tax increase of 4.5 per cent, or $37,000.
The performing arts centre’s tax requisition decreased in 2021 and 2022 due to four long-term debt issues for its construction being paid off, totalling a little more than $9 million.
Operating impacts include a $17,000 increase under the five-year capital plan, a $15,000 increase to wages, and a $6,000 increase in the management fee paid to the Vernon and District Performing Arts Centre
Society.
The regional district also provides an annual presenting grant of $20,000, which increased by $5,000 during the last contract negotiation and is predicated upon the society presenting at least 20 shows per year.
Capital projects for 2024 include $500,000 for a second TicketSeller window and replacement of an outside entrance stairwell, $150,000 for stage floor replacement, accessibility lift replacement ($65,000), and $100,000 for theatre lighting console replacement.
All are part of $1.8-million in projects in the centre’s five-year plan.
Some of the extra expenses will come from reserves.
“After accounting for funding previously allocated in 2023, the annual average funding requirement from general revenue for the five-year capital plan is $250,000, up $17,000 from $233,000 in 2023. The funding requirement is adjusted annually due to increases in project costs, as well as the relative scope of projects being completed in the prior year versus new projects being added to the plan,” a report to GVAC directors states.