File #: 20-487    Version: 1 Name:
Type: Staff Report Status: Passed
File created: 10/8/2020 In control: Council
On agenda: 11/2/2020 Final action: 11/2/2020
Title: 2021-2025 Financial Plan and Budget Schedule
Attachments: 1. 2021 Budget Schedule.pdf

REQUEST FOR DECISION

 

DATE:                       October 9, 2020                     Report No. FIN-20-019

TO:                       Laurie Hurst, Chief Administrative Officer                                           

FROM:                      Ian Irvine, Director of Financial Services

SUBJECT:

 

Title

2021-2025 Financial Plan and Budget Schedule

End

 

RECOMMENDATION:

 

Recommendation

That Council approve the 2021-2025 Financial Plan and Budget Schedule as attached to Staff Report No. FIN-20-019.

Body

 

RELEVANT POLICY:

 

Community Charter S166

 

STRATEGIC RELEVANCE:

 

This request does not relate to any specific strategic objective or priority.

 

BACKGROUND:

 

The schedule clearly indicates those events which directly involve Council.  These events, including presentations by staff and external organizations and the various Council discussions, are denoted with asterisks (**) and have been clearly labelled with a reference to “Council” or “Special Council”.

 

The Community Charter requires municipalities to undertake a process of public consultation before adopting the annual Financial Plan.  While the public is encouraged to provide their input at any time, the schedule includes four dedicated public input opportunities within the formal budget process.  These opportunities correlate with significant process milestones including: (1) discussion around budget challenges when Council will communicate their desired level of 2021 tax revenue increases; (2) departmental presentations when senior management will highlight their prior year achievements and discuss their short and long term objectives and challenges; (3) consideration of the supplemental operating and capital requests recommended by senior management; and (4) discussion of tax revenue increase scenarios.

 

 

ISSUES: 

 

1.  Rationale for Selected Option

 

The annual Financial Plan and Budget Schedule outlines the timing and identifies who is responsible for the completion of various process deliverables.  The 2021 schedule has been prepared similarly to those in previous years and every attempt has been made to correlate the dates with the established Council meeting schedule.

 

Approval of the 2021 schedule would allow staff to adequately prepare for the various meetings, discussions and presentations prior to the adoption of the Financial Plan and Tax Rate Bylaws by the May 15 deadline.  This approval would also allow staff to coordinate presentations by the Library Board and the Victoria and Esquimalt Police Board.  As well, it would allow for the dates of the four dedicated public input opportunities to be confirmed and communicated.

 

2.  Organizational Implications

 

There are no organizational implications of this decision.

 

3.  Financial Implications

 

There are no financial implications of this decision.

 

4.  Sustainability & Environmental Implications

 

There are no sustainability or environmental implications of this decision.

 

5.  Communication & Engagement 

 

Once approved, items related to future budget discussions, presentations and public input opportunities will be added to the agenda for each Council meeting noted on the schedule.  As well, the key public input opportunities will be communicated on the Township notice board, website, through social media and in the Township newsletter.

 

ALTERNATIVES:

 

1.                     That Council approve the 2021-2025 Financial Plan and Budget Schedule as attached to Staff Report No. FIN-20-019.

2.                     That Council amend and approve the 2021-2025 Financial Plan and Budget Schedule as amended.