February 27, 2023 - Islands Trust Releases Draft 2023/24 Budget

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Bowen, Denman, Gabriola, Galiano, Gambier, Hornby, Lasqueti, Mayne, N. Pender, Salt Spring, Saturna, S. Pender, Thetis 
 
 
February 27, 2023 – for immediate release 2023-02-IT 
 
Islands Trust Releases Draft 2023/24 Budget  
 
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 ʷəŋən, METULIYE/Victoria, B.C. – Islands Trust Council’s Financial Planning Committee has proposed a draft budget for 
the Islands Trust for fiscal year 2023/24 to support its work to preserve and protect over 450 islands and their 
surrounding waters in the Salish Sea.  
“The collaborative efforts of the Financial Planning Committee has resulted in a draft budget that supports the core needs 
of the organization,” said Peter Luckham, Islands Trust Council Chair. “There has been careful reflection and an attempt to 
develop a proposed budget for 2023/24 that reflects the priorities of our communities. The public is welcome to offer 
comment on the draft budget during the public comments session of the Trust Council meeting in Nanaimo on the 
evening of March 7 either in-person or virtually. Trust Council is expected to approve a final budget on March 9." 
 
The proposed cash budget for 2023/24 of $9.7M assumes that the Islands Trust will maintain existing service 
levels, will undertake selected projects, as well as support a new Governance Committee and Accessibility 
Committee.  
Highlights of the proposed 2023/24 budget: 
 A proposed 1.75% general tax increase to local trust areas, plus an additional 8.01% expected to be collected on 
new construction and development in local trust areas 
 A proposed 1.17% general tax reduction to taxpayers on Bowen Island, plus an additional 6.56% in taxes expected 
to be collected on new construction and development on Bowen Island 
 A 6% ($578,000) increase in total planned spending for operations, projects, and capital purchases  
 6% ($570,000) of planned spending funded by approved grants  
 $192,000 in application fees revenue (27% decrease from 2022/23) 
 $435,000 in planned transfers from Island Trust surplus and reserve funds (10% increase from 2022/23) 
 $43,500 Salt Spring Island Local Trust Area special tax levy (28% reduction from 2022/23) 
 
This year, the Financial Planning Committee did not undertake a public engagement process about the 2023/24 draft 
budget as the election cycle made it difficult to prepare a draft budget for consultation in the timeframe required. 
Members of the public are invited to address Trust Council during the public comment period at the upcoming Trust 
Council meeting on the evening of March 7, 2023, at the Coast Bastion Hotel, 11 Bastion Street in Nanaimo, or virtually 
via Zoom, or by phone. The public comments session will be held 8:15 p.m. until 9:15 p.m. after delegation presentations 
are complete. For details on how to attend electronically, visit the Trust Council meeting information webpage here. The 
Trust Council meeting agenda which includes proposed budget details is available on pages 226 - 402 here.  
 
 
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