Islands Trust works to preserve and protect over 450 islands and surrounding waters in the Salish Sea with First Nations, residents, property owners, and all British Columbians. Each year, the Islands Trust Council develops a budget to guide its activities.

All budget input is public. That means your comments could show up on our website or be included in documents that are created and distributed to the public. All materials produced by the Islands Trust, including emails, are subject to the Freedom of Information and Protection Act.

view of a green tree covered valley with fields and a distant ocean under a blue sky in the background

The Approved 2023/24 Budget

At the March 2023 Trust Council meeting, Trust Council approved a budget. The approved budget for 2023/24 ($9.7 million) assumes that Islands Trust will maintain existing service levels, support a new Governance Committee and a new Accessibility Committee, and undertake select projects. View a breakdown of the budget numbers.

Budget Highlights

  • Total planned spending of $9.7M, with $8.6M directed to operations, $651,296 directed to special projects, and $134,300 directed to the purchase of new capital assets
  • A 2.06% increase to the existing local trust area tax base plus an additional 8.01% tax revenue expected from new construction and development in local trust areas
  • $345,989 Bowen Island Municipal tax levy. This is a 6.86% ($22,220) increase comprised of 0.3% increase to be levied against the existing tax base plus an additional 6.56% tax levy expected from new development and construction in the Municipality
  •  A 6.44% ($585,851) increase in total planned spending for operations, projects, and capital purchases
  • A 5.85% ($569,796) of overall budget funded by approved external grants
  • $192,000 in application fee revenue (increased from 2021/22)
  • $414,900 budgeted for transfers from Island Trust surplus and reserve funds (increased from 2022/23)
  • $43,500 Salt Spring Island Local Trust Area special tax levy (reduced from 2022/23)

Revenue: Where Money Comes From

In the fiscal year running April 1, 2023 to March 31, 2024, the Islands Trust will source funding from:

  • Property taxes in local trust areas
  • Salt Spring Island Local Trust Area special tax levy
  • Bowen Island municipal property tax levy
  • Grant funding
  • Applications fees (development permits and rezoning applications)
  • Transfers from Islands Trust accumulated surplus funds

Expenditures: Where Money is Spent

The Islands Trust preserves and protects the Trust Area through environmentally sound land use planning, land protection through the Islands Trust Conservancy, and working locally and across agencies to collaborate, plan, and advocate on important matters in our jurisdiction.

More Information

E: Director, Administrative Services

T:  1-250-405-5151