2023-2027 Financial Plan

 

The 2023-2027 Financial Plan (budget) and bylaws was formally adopted on April 3, 2023.

Our plan contains the operating and capital budget, highlights of our work program and an approved 5.25% tax increase for the year, or $131.25 on the average residential home. The 5.25% is a departure from the District’s typical increase to address inflation and other impacts from supply chain issues and labour shortages. To address affordability concerns and maintain flexibility, the tax increase also includes a temporary suspension of our usual 1% policy dedicated to ongoing replacement of aging infrastructure.

Thank you to members of the public who shared their thoughts on the draft budget during the input period from February 14 to March 6, 2023. The period of public input generated an unprecedented degree of feedback from the community, a summary of which was provided to Council for its deliberations.

Your tax dollars primarily fund core services, such as public safety, transportation, parks and recreation, and investments in housing and infrastructure.

View the Approved Financial Plan Workbook 

A flexible plan

The Financial Plan was developed to be flexible with the ability to adapt to new information as it becomes available. The financial plan bylaw is based on the draft financial plan introduced on February 13, and includes changes that were introduced at the Budget Deliberations Workshop on March 13 to include new information and consider public input on priorities such as:

  • Funding for key Active Transportation projects
  • Funding for Artificial Turf Fields
  • $10.25 million from the Growing Communities Fund
  • $1.78 million from the Building Safer Communities Fund

Developing the plan

Throughout the development of this financial plan, staff worked closely with Council to ensure its priorities were reflected. The draft was presented to Council for feedback in a series of workshops and special meetings, and a new iteration of the draft was developed following each workshop. 

Review these materials from the budget meetings to see how the Financial Plan evolved.

We strive to provide leadership and deliver exemplary service that improves the community's quality of life by addressing its needs today and tomorrow. Our financial plan sets a sustainable foundation to realize our community’s vision.

Ongoing community priorities

This plan continues to address priority areas the community has identified:

  • Enhance transportation and mobility
  • Address the community’s housing needs
  • Achieve a balanced and fair economy
  • Lead in climate emergency action and environmental management
  • Foster community well-being, culture and safety

Public input on the 2023 draft budget now closed

Thank you to all those who shared their thoughts on the draft budget during the input period from February 14, 2023, to March 6, 2023.

All input we receive was included in the Council deliberations open to the public. The plan was adopted in April of 2023, following public input and Council deliberations.

View the 2023-2027 Draft Financial Plan Public Input Summary