By Lexi McFarlane, Times Chronicle
Amidst the 2026 rate increases being locked in by the Town of Oliver, staff gave a visual presentation of what the next five years will look like for water and sewer rates, reserves, and projects in the town, and where things stand financially.
Brought forth by Town Chief Financial Officer John Kurvink, the presentation covered many different aspects surrounding water and sewer matters. For the 2026 fiscal year, the Town will need to fund $1.74 million for sewer projects in 2026, with over $6 million of spending required on sewer infrastructure through 2030.
Water projects are also commanding fiscal attention, with a budgeted amount of $2.39 million for this portfolio in 2026 alone. Over the next five years, water projects are slated to cost nearly $9.6 million.
The significant amount of resources needed to fund profiles on both fronts is a major part of what has led to a five per cent increase to the water rates, and a ten per cent increase to the sewer rates for 2026.
Besides urgently-needed projects, the Town’s water and sewer reserves are currently at an “uncomfortable” level, as described by Councillor Petra Veintimilla at the November 17 Special Open Council Meeting.
The balance of the Sewer Capital Reserve sits at just $2,166 for the 2026 fiscal year. With the higher sewer rates allowing for more contributions to the Reserve, it is forecasted to grow to nearly $1.65 million by 2030.
As for the Water side, with new debt being required to finance the Rockcliffe project, the Water Capital Reserve’s balance will fluctuate in the coming years, dipping to $38,000 at one point before being forecast to return to a $292,000 level by 2030.
Even with the rate increases, 2026 water and sewer rates in Oliver will remain lower than what the 2025 Osoyoos and Summerland rates were, but higher than Keremeos, Peachland, Penticton and Princeton, according to the presentation.
The report also detailed the town’s current ability to borrow for the Rockcliffe Well completion, with an approval-free limit remaining of $435,572, and a maximum overall limit of $5.63 million. The Town is proposing to borrow $1.1 million in fall 2026, while retiring previous debts amounting to $3.5 million in the next 12 months. Interest payments on the new loan would begin in 2027.
The water rate increases are currently projected to hold steady at 5 per cent annually, while sewer rate increases will be significant this year and next, before dropping to 3 per cent annually.
