January 2026 Update - Staff Report on the Nanaimo River Fire Bylaw 1612 Reserve Fund

On January 15, 2026, RDN staff presented a report to the Board outlining recommended next steps for the Nanaimo River Fire Protection Service Reserve Fund, established under Bylaw No. 1612. This work responds to Board Resolution 25‑599, which directed staff to explore options for dissolving the fund following the 2025 community engagement process.

Why This Matters

The Reserve Fund balance is $257,158 as of October 31, 2025. With no future capital projects planned for this service and the fire service debt being fully paid in 2026, staff found no viable way to use or transfer the remaining funds for their original purpose.

Refunding property owners directly is not feasible due to legislative limitations and administrative complexity.

What Staff Recommended

1. That the entire balance of the Nanaimo River Fire Bylaw 1612 Reserve Fund as at December 31, 2025, be used to reduce the Nanaimo River Fire Service tax requisition in 2026 and that the 2026-2030 Financial Plan be amended accordingly.
2. That any residual interest accrued on the Nanaimo River Fire Bylaw 1612 Reserve Fund balance between January 1, 2026, to August 4, 2026, be used to reduce the tax requisition in 2027.

Both recommendations were passed by the Board.

Financial Impact for Property Owners

Approximately 71 properties will benefit.

The estimated 2026 reduction equates to about $335 per $100,000 of assessed value, which would equate to approximately $3,350 for an average home valued at $1,092,481 based on 2026 assessments (approximately $3,350 for an average‑valued home based on 2026 assessments).

More Information

Read the full staff report here: https://rdn-pub.escribemeetings.com/filestream.ashx?DocumentId=46791