MEMORANDUM
DATE: March 16, 2026 Report No. ADM-26-013
TO: Council
FROM: Dan Horan, Chief Administrative Officer
SUBJECT:
Title
2026-2030 Financial Plan - Final Budget Deliberations End
INFORMATION:
Council has now completed most of the planned review of the proposed 2026-2030 Financial Plan through the series of budget meetings, reports, and presentations held over the past two months. Through this process, Council has provided direction on the operating and capital components of the draft budget, as well as the staffing requests associated with the plan.
The attached presentation from the Director of Financial Services provides a current summary of the financial plan following Council's deliberations to date.
The second half of the presentation provides Council with an update on the status of Esquimalt's reserve funds, in response to a Council question early in the budget process related to the Township's accumulated reserves. Staff anticipate that Council may want to have further policy discussion laying out guidelines for how to handle accumulated surplus going forward; if this is Council's desire, staff recommend a more comprehensive policy discussion about accumulated reserves be completed before summer 2026.
The Township's auditors are expected to present their audit findings at the May 4 Council meeting. The Township's financial statements will also be presented for approval at that Council meeting. That meeting will provide an opportunity for Council to ask the auditors questions regarding the Township's accumulated reserves, current practices, and comparisons with other municipalities. Staff anticipate that this discussion may help inform any subsequent policy discussion regarding the management of accumulated surplus and reserves.
On completion of the presentation from the Director of Financial Services, and after the question and answer period, staff recommend that Council take the following actions:
1. Provide staff with any final ch...
Click here for full text