February 7, 2023

Draft 2023-2027 Financial Plan presented to Council

Sidney, BC;

Sidney’s draft 2023-2027 Financial Plan was introduced to Council during a Committee of the Whole meeting on February 6th. It includes an operating budget of $26.6 million and a capital budget of $15.3 million for 2023.

Each year, the Town’s budget covers a wide range of core services, including but not limited to the maintenance of roads, sidewalks, parks, and underground utilities that residents and businesses make use of daily. The draft Financial Plan also supports essential police and fire services, while featuring an emphasis on environmental projects, climate adaptation, and active transportation.

The proposed general tax increase in the draft Financial Plan is 4.93%, which serves as a starting point for budget deliberations. This amount reflects several internal and external requests that have not been approved by Council. Over the course of the budget process, Council may choose to add or remove certain initiatives, which would impact the final tax increase. A 4.93% tax increase equates to about $81 for the average residence.

Two additional meetings are planned for budget deliberations, with additional meetings to be scheduled if required.

Initial Budget Consideration

Monday, February 27, 2023 at 6:00 pm
Regular Council Meeting

Budget Deliberations

Tuesday, March 7, 2023 at 6:00 pm
Special Council Meeting

The community can play a role in shaping budget decisions. Members of the public are invited to provide input on the draft Financial Plan by speaking at the February 27th Council meeting (or any Council meeting) in-person or virtually. Comments can also be sent by email to admin@sidney.ca by March 7th.

The draft 2023-2027 Financial Plan is available for review here.

Media Contact:

Mayor Cliff McNeil-Smith
Town of Sidney