TOWNSHIP OF ESQUIMALT STAFF REPORT
MEETING DATE: April 27, 2026 Report No. FIN-26-010
TO: Council
FROM: Ian Irvine, Director of Financial Services
SUBJECT: 2026 Financial Plan and Tax Rates Bylaws
RECOMMENDATION:
Recommendation
That Council:
1. Give first, second, and third readings to Financial Plan Bylaw, 2026, No. 3180; and
2. Give first, second, and third readings to Tax Rates Bylaw, 2026, No. 3181.
Body
EXECUTIVE SUMMARY:
The Community Charter requires municipalities to adopt Financial Plan and Tax Rate Bylaws prior to May 15 each year. The annual financial plan provides financial information for a five-year period and must set out the policies and objectives for the planning period. The tax rates bylaw is required to provide the Township with the authority to impose property taxes to meet its obligations.
BACKGROUND:
The Financial Plan and Tax Rates Bylaws have been drafted based on Council direction. During meetings held in January, February, March and April, Council was provided an outline of the Township's budget process, as well as detailed information about the capital program, workforce plans, and operational supplemental requests. The draft financial plan includes the various budget components to support the approved service levels and the tax rates have been calculated based on the additional revenue required to balance the budget.
Chronology:
Materials were provided to Council at the following meetings:
* January 12 - Preliminary draft financial plan overview including supplemental requests and work force plans
* February 2 - Capital program update
* February 9 - Updated draft financial plan with potential service level and supplemental reductions;
* February 9 - Draft budget book
* March 2 - Review of potential reductions and approval of financial plan components
* April 13 - Tax rates; Financial plan policies
ANALYSIS:
During this year's process, Council was provided with various pieces of budgetary information, and a 11...
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