Columbia Basin Trust (CBT) will provide $19.4 million in new funding in the 2013/14 fiscal year to support a broad range of social, economic and environmental initiatives throughout the region.
"A key approach in how CBT delivers benefits is to support Basin communities and residents in identifying their priorities, and to provide funds and other supports based on those priorities," said Greg Deck, chair, board of directors.
"CBT will deliver a substantial portion of this budget by involving communities in directly allocating CBT funds based on community-identified priorities."
CBT's Board of Directors approved the following budget allocation for 2013/14:
• $3.5 million for Social Initiatives, including literacy, affordable housing, non-profit initiatives and $1 million for the Social Grants Program;
• $3.2 million for Economic Initiatives to strengthen the labour force, foster entrepreneurial ventures and encourage regional economic development partnerships within the Basin, including $1.3 million for wage subsidy programs;
• $3.3 million for Environment and Water Initiatives, including support for environmental restoration, conservation and education projects, for residents and communities taking action on water-related issues and for delivering programs such as Water Smart, Carbon Neutral Kootenays and Communities Adapting to Climate Change;
• $4.3 million for a variety of community development initiatives that support a range of community projects and priorities, including $706,000 to support arts, culture and heritage;
• $1.6 million for Youth Initiatives to work with youth and communities to increase youth opportunities and engagement; and
• $3.5 million for other initiatives and to address opportunities that may arise throughout the year.
"The consistently strong performance of our Investment Program means we can return more benefits to Basin communities," said Neil Muth, CBT president and CEO. "CBT's fundamental role is to support communities in achieving their aspirations, and this budget will allow us to continue to do so."
The board also approved the 2013/14 - 2015/16 Service Plan, which describes the overall mandate of CBT, sets out specific goals, measures and targets, and forecasts budgets for the next three-year time period. View it online at www.cbt.org/serviceplan.