Capital and Operating Budgets

Capital and Operating Budgets

Section 165 of the Community Charter requires municipalities to prepare a Financial Plan for a period of five years, which is adopted annually by Bylaw.  The Charter also requires Council to undertake a process of public consultation regarding the proposed financial plan before it is adopted.

2022 Budget Framework Principles

1. Ensure service levels in all operations and facilities are cost effective and meeting expectations of residents and visitors.
2. Complete priority projects identified by Council and department Directors.
3. Identify sufficient contingency to respond to unforeseen expenditures.
4. Adjust capital expenditures to maintain current service levels.
5. Maintain property tax policy of increases to cost of living as directed by current financial plan objectives and policy.
6. Utilization of COVID Restart Grant to assist with shortfall in revenues due to COVID.
7. Link the Town's financial plan to other planning processes such as strategic, land-use, asset management and business planning.
8. To stimulate long-term thinking - to allow decision makers to examine and consider the long-range financial implications of current day decisions.
9. To stimulate 'big-picture' thinking - to enable the Town to step back and think more strategically and holistically about the Town's financial position and requirements.
10. To create dialogue - to create an avenue for dialogue about the Town's future with all stakeholders, i.e. Town Council, management, the public, other impacted organizations, etc.
11. To create transparency and understanding - to make the public and taxpayers fully aware of the Town's financial outlook including its related challenges and constraints.
12. To strategically take advantage of grant opportunities to acquire, replace and renew capital infrastructure.

Please click on the links below to view the Operating and 5 Year Capital Plans.