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
If you have any questions or would like any additional information, please contact the Finance Department at 250-656-1184 or email@example.com.
2020 - 2024 Financial Plan
The 2020-2024 Financial Plan was introduced to Council and the public at the Committee of the Whole meeting of January 20, 2020, received initial consideration on February 3, 2020, and was approved at the Special Council Meeting of February 18, 2020.
The draft financial plan started out with a proposed general tax increase of 2.98%. This amount included several internal and external requests that had not yet been approved by Council, and was simply a starting point for budget deliberations.
At the February 18, 2020 meeting, Council reduced the proposed tax increase to 1.79% by deferring or reducing two capital projects, identifying alternate (non-tax) funding for several others, denying one of the Supplemental requests, and reducing the amount allocated to economic development for the year. The impact of a 1.79% tax increase to the average residence is about $27 for the year.
Copies of the three staff presentations 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.
- 2020 - 2024 Financial Plan
- January 20, 2020 Presentation
- February 3, 2020 Presentation
- February 18, 2020 Presentation
The three meetings were 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 below video recordings of the meetings.
- Video Recording of the January 20, 2020 Presentation
- Video Recording of the February 3, 2020 Presentation
- Video Recording of the February 18, 2020 Presentation
The following resources are available to provide more details on the draft financial plan.
- 2020 Capital Projects Summary
- February 3, 2020 Staff Report
- February 18, 2020 Staff Report
- Media Release - Sidney Approves 2020 Financial Plan