Planning our financial future to 2019

Thank you for providing your feedback about the City's proposed 5 Year Financial Plan (2015-2019).

This survey closed on March 27, 2015. The submitted comments are now being compiled for inclusion in a report to Council.

For more information on what this project is about, please read on.

All the information is right here - just scroll down or click on information provided in the Document Library.

Background

Each year, the City adopts three annual budgets to guide civic spending:

1. The Operating Budget funds the provision of general City services and determines annual property tax rates.
2. The Capital Budget funds investments in new infrastructure or equipment.
3. The Utilities Budget supports provision of water, sewer, drainage and garbage and recycling services.

Once the City has adopted each of its three budgets for the coming year, it also develops a 5 Year Financial Plan to:

• meet obligations under the Community Charter, which governs BC’s local government, and requires the City to adopt a 5 Year Financial Plan by May 15 of each calendar year
• provide a budget road map for the City to manage its resources, revenues and spending to best serve the community
• establish the City has ability to meet the needs of the community and maintain civic service levels for the coming five years, while meeting its legal requirement to deliver balanced annual operating budgets.

The proposed 5 Year Financial Plan received preliminary approval from City Council at the March 9, 2015 Council Meeting.