The Regional District of the North Okanagan says thanks to being in a strong financial position during the coronavirus pandemic, it plans on moving forward with budgeted and capital projects for 2020.
On Wednesday, the regional district announced that it completed the year under budget, with reserve balances increasing by $8.7 million and long-term debt decreasing by $5.7 million.
The regional district added that while the pandemic has created financial uncertainty, such as revenue downfall from not collecting transit fares, it is confident that its cash flow will see it through the current crisis. “Creating strong financial policies and plans has allowed the RDNO to maintain and improve upon its strong financial position,” said Stephen