Kelowna council to review first-quarter financial report

Kelowna council will review a new financial update Monday showing the city’s first-quarter 2026 results remain in line with expectations.

A report to council said the city recorded approximately $62 million in revenue between January and March, or about 12 per cent of the annual budget. Fees and charges made up the largest share of revenue, led by airport operations, while officials note tax revenue collection typically increases in the second quarter.

Spending for the quarter totalled about $97 million, representing 22 per cent of the annual budget. Payroll and enabling services were identified as the largest expenditure areas.

Capital spending reached roughly $43 million, or eight per cent of the city’s annual capital program.

The report notes that variances from a straight-line budget are expected early in the year due to seasonal and business cycle timing. Staff said no significant financial risks have been identified to date, and overall performance remains consistent with the 2026 financial plan.

The City of Kelowna said it will continue regular financial reporting throughout the year as part of its governance and oversight framework.