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The original item was published from 1/15/2014 5:35:17 PM to 1/22/2014 12:05:00 AM.

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Posted on: January 15, 2014

[ARCHIVED] 2014-2018 Financial Budget Process Update

The citizens of Revelstoke provided valuable input on operational and community priorities last night at a well attended Town Hall Meeting. The City also received public comment through the City’s online reporting tools, public consultation on specific programs, and contact directly with the Mayor and Councillors throughout the year.

In commenting on the Town Hall meeting Mayor Raven stated that “I am extremely pleased with the turn out and the valuable information that was presented. The information collected will be used in the deliberation process of the financial budget plan.”

The questions presented at the Town Hall meeting will be addressed in a document included in the agenda for the Special Council meeting on January 21, 2014. Council will deliberate on the comments and suggestions from the public in an effort to create a budget that addresses the wide range of services, programs and infrastructure that the citizens of Revelstoke need, want and use everyday. Additional input is encouraged to be received by January 20th to be fully considered as part of the deliberation process.

Councillor Bender, Chair of the Finance Committee stated that “We go through this debate every year and each time we reach the perfect solution in the end; no one is really happy. That's the perfect solution in a democracy. It indicates the essence of democracy; compromise.”

The budget framework was set out in the 2014 Council Objectives which targets a balance of affordable taxes for property owners that includes weighing the diverse expectations and needs of residents, businesses, and visitors, together with reasonable user fees, while retaining core priority services for the general public, building reserves and setting the course for a vibrant, sustainable future.

Based on previous Focus Group recommendations and to ensure the timely and efficient management of programs and services, Council set an ambitious goal to have the 2014 budget approved well in advance of the mid May mandatory deadline.

The draft budget contains many key fiscal accomplishments including:

• No new long term general debt after 2014;
• No new long term water debt;
• No new long term sewer debt until 2017;
• Long term debt reducing overall;
• Debt (long term) to asset ratio trending lower;
• Reserves and surpluses increasing over time; and
• Operating expenses within 1% - 2% range per year.

Key Dates for 2014-2018 Budget Planning Process

July 2013
Director of Finance directs staff to prepare a draft budget for their respective departments that includes Council priorities, limiting spending and building reserves.

October 15 & 22, 2013
Council considered service levels for the 2014 budget preparation.

November 12, 2013
A new ambitious timeline was set to have the budget approved earlier in the 2014 fiscal year.

Special Meeting November 28, 2013
The Director of Finance gave a presentation outlining the 2014-2018 Draft Financial Plan and the budget preparation directives to Council.

November 26 - January 28, 2014
Council deliberates comments and suggestions for the budget.

December 10, 2013
The Draft Financial Plan was released to the public for comment.
“THAT the Financial Plan dated November 26, 2013 be received and presented for public review and comment.”

January 14, 2014
Non statutory Town Hall Meeting on 2014-2018 proposed Budget.

January 21, 2014
Special Meeting to deliberate on public comments and suggestions.

January 28, 2014
Possible approval of the 2014-2018 Financial Budget.

May 15, 2014
2014-2018 Financial Plan Bylaw adoption deadline.

May 2014
Property tax notices are mailed to property owners.

July 2, 2014
Deadline to pay property taxes.

July 2014
Staff begins to consider 2015-2019 Draft Financial Budget.


For Further Information on the proposed budget please contact;
Graham Inglis, Director of Finance, 250-837-2161or
David Raven, Mayor, 250-837-2911

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