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The original item was published from 1/31/2014 1:46:21 PM to 2/5/2014 12:05:00 AM.

News Flash


Posted on: January 31, 2014

[ARCHIVED] Council Considers 2014-2018 Financial Plan with a Lower Tax Rate

The Plan demonstrates financial success in many areas including no new borrowing commitments in 2014, a sequential reduction of debt, and the transition to building of reserves. This financial plan continues the gradual transition of a reduction in business taxation.

The community survey clearly indicated that overall citizens want the City to retain our current high service levels. Council has committed to this in the budget directives to staff. Recently, the City has achieved the ability to retain services with the reduction of non core, long term initiatives in development services and is committed to continuing to find new ways of operating to achieve this goal.

Service levels will be reduced in targeted areas to minimize impact to the public. The City plans to monitor these incremental cutbacks such as snow clearing, street sweeping and parks maintenance to gauge public tolerance to the reduced services. Some capital projects have been delayed or eliminated.

Mayor Raven stated that “I am extremely satisfied with all the hard work and effort staff has put into achieving a balanced budget while addressing all of Council’s directives in a timely manner.”

Acting upon the Financial Focus Group’s recommendations Council has embarked on an accelerated budget process. In previous years Council has voted on the budget in April alternatively, budget approval is expected in February this year. The new timelines have improved the process with early implementation of identified projects and timely work plans. Another important advantage to the process is the notable increased community feed back and input, which is the best the City has seen in decades.

Chief Administrative Officer Tim Palmer thanked the community for their feedback “we value your questions and will be seeking a more in depth public dialogue on future capital projects.”

Council will consider the draft 2014-2018 Financial Plan at a Special Council meeting on February 4, 2014.


For Further Information Contact;
Graham Inglis, Director of Finance, 250-837-2161or
David Raven, Mayor, 250-837-2911

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