> Home Page > Services > Financial Services > Budget

Budget

Like other municipalities and organizations, the Town is facing external economic pressures, including the current global economy, regional competition, increasing expectations and other cost pressures. Our budget looks to balance these competing priorities and challenges with the ability to provide high quality services for all our customers.


Keeping taxes affordable is important to the well-being of our businesses and residents. Like any business or resident, the needs and wants within a municipality are often greater than what the municipality and community can afford at one time. Each year as part of the budget process, choices must be made.

The Community Charter requires that Council adopt a Five-Year Financial Plan bylaw each year.

If you have any questions or would like any additional information, please contact the Finance Department at 250-656-1184 or finance@sidney.ca.

 

2022 - 2026 Financial Plan

The Draft 2022-2026 Financial Plan was introduced to Council and the public at the January 24th Council meeting, and received initial consideration at the February 7th Committee of the Whole meeting. The Financial Plan was approved by Council at a Special Council Meeting on February 22nd.

The draft Financial Plan started out with a proposed general tax increase of 4.98%. This amount included several internal and external requests were not yet approved by Council, and was simply a starting point for budget deliberations. Over the course of three meetings, Council reduced the proposed tax increase to 3.76%. The impact of a 3.76% tax increase to the average resident is about $60 for the year.

As the community transitions out of the pandemic, the municipality is similarly transitioning back to normal revenue levels. The Canada-BC Safe Restart funding will soon be fully utilized. This funding allowed the Town to keep municipal tax increases artificially low over the past two years; in 2020, Council rolled back the tax increase to 0%, and instituted a modest 2.7% tax increase in 2021.

The 2022 budget will support faster emergency response times with a shift to 24/7 staffing of trained firefighters in the Community Safety Building and the addition of an officer to the Sidney/North Saanich RCMP Detachment. It also includes the first annual contribution of $50,000 to the Climate Action Reserve Fund, which will help the Town address priority projects identified in an updated Climate Action Plan.

Copies of the three staff presentations from the meetings on January 24th, February 7th and February 22nd are linked below, along with the public budget document. Please note that the items should be considered together. Reading the document without also checking out the presentations will likely not provide enough information.

The Council meetings were also recorded, as are all Town Council and Committee of the Whole meetings. For those seeking the most complete introduction to the financial plan, the above presentations may be viewed together with the video recording of that meeting, posted below.

 Additional Resources

The following resources are available to provide more details on the draft financial plan. Please check this section as we move through the various budget meetings, as additional information may be posted.

If you have any questions or would like any additional information, please contact the Finance Department by email at finance@sidney.ca or by phone at 250-656-1184.

 Previous Financial Plans