This document provides an overview of the Financial Plan which outlines the services provided by the City and the financial implications thereof.
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The City’s Financial Plan, more commonly known as the “Budget”, is the outcome of a robust Business Planning process that sees each department develop a business plan aligned with Council’s strategic direction.
A key part of that Business Planning process includes presentations to Council. The annual process is adapted each year to fit the circumstances. Typically later in a Council’s mandate the presentations are shorter as Council is more familiar with the City’s operations. In the interest of openness and accountability, all of the budget deliberations and business plan presentations occur at meetings open to the public and live streamed.
This report begins with a discussion of the legislative framework that we operate in, as well as the process that we go through in developing the Financial Plan. It then discusses the key cost drivers and financial strategies that are built into the plan. The impact of the Financial Plan to the average home is also highlighted.