The city’s finance director says investment revenues are safe, despite the economic downturn from the pandemic.

Kamloops is expecting $4.14 million in investment revenue in this year’s budget, which is more than two per cent of its total revenues.

Kathy Humphrey says most of the city’s investments are in GICs with locked-in interest rates.

“At this point it’s really those other revenues that have been severely impacted by the reduction in our operations. Things like transit revenues, parking revenues, recreation fees, rental fees for facilities, event fees, permits. All these sorts of things that happen, most of these have been fairly significantly impacted in this period of shutdowns.”

But, Humphrey says the interest rates may be lower in future years because of the changing economic climate, meaning lower investment revenues for the city.