The City of Richmond is forecasting almost $7 million left over from its 2013 budget.
According to figures released last week by the city's financial experts, around $6.8 million is expected to be unused by the end of the year - up significantly from $3.7 million in 2012. As with previous years, the majority of the predicted surplus has come from unfilled vacancies in the RCMP ($2.7 million) and Richmond Fire-Rescue ($1.17 million).
Any surplus is earmarked by city council to be transferred to the rate stabilization account (RSA), which is supposed to minimize future tax increases and to supplement one-time expenditures.
Despite efforts by a minority on council, namely the Richmond First slate of councillors - Bill McNulty, Ken Johnston, Derek Dang and Linda McPhail - a tax increase of 2.96 per cent was approved Monday night by the remainder on city council.
The majority argued last week that one per cent of the increase is still needed to be placed in the city's reserves to deal with future infrastructure demands.
One-time expenditures for 2014, also approved Monday night by city council, totaled $3.4 million, which would leave a balance of $2.1 million in the RSA before any 2013 surplus is added.
Next year's one-time expenditures include:. Air handling units and exhaust fans for Watermania ($950,000). Major Events Provision Fund ($450,000). Sister city activities ($220,000). Let's Talk Richmond (online public participation tool) ($63,000).
