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.
2018 - 2022 Financial Plan:
The Draft 2018-2022 Financial Plan was introduced to Council and the public at the Committee of the Whole meeting of January 15th. The Plan was then considered by Council, with public input, at Committee of the Whole on Monday, February 5th. Copies of both 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.
The Committee 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, as well as the outcome of the initial Council deliberations, the above presentations may be viewed together with the recording of the meetings. January 15th may be found here, and February 5th here.
The draft financial plan started out with a proposed general tax increase of 4.1%. 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 5th meeting, Council reduced the proposed tax increase to 2.43% by deferring a number of capital projects, and identifying alternate (non-tax) funding for several others. The amended Financial Plan was then approved by Council on February 13th, with no further changes to the budget or tax impact.
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.
Previous Financial Plans: