REQUEST FOR DECISION
DATE: March 24, 2022 Report No. FIN-22-006
TO: Laurie Hurst, Chief Administrative Officer
FROM: Ian Irvine, Director of Financial Services
SUBJECT:
Title
2022 Revenue, Tax, Budget and Financial Sustainability Policies & Objectives
End
RECOMMENDATION:
Recommendation
That Council approve the 2022 Revenue, Tax, Budget and Financial Sustainability Policies and Objectives as attached to Staff Report No. FIN-22-006, as Schedule A to Financial Plan Bylaw No. 3054
Body
RELEVANT POLICY:
Community Charter S.165
STRATEGIC RELEVANCE:
The adopted Financial Plan outlines the service levels, revenue requirements and related policies and objectives for the Township.
BACKGROUND:
The Community Charter states that the Financial Plan must set out the policies and objectives of the municipality for the planning period in relation to the sources of funding, property tax distribution and permissive exemptions. The Revenue, Tax, Budget and Financial Sustainability document discusses these areas as well as others such as growth and revitalization strategies, fees and charges, and financial sustainability. The policies and objectives in this document are those of Council and will provide direction to staff regarding the execution of the financial plan.
The document attached to this report is similar to the adopted 2021 policies and objectives document. Changes to this document consist of minor housekeeping items and the removal of one clause. This clause, under the growth and revitalization strategies section within the 2021 document, stated the objective of "continue to promote the existing Revitalization Tax Exemption Bylaw". As a Committee of the Whole discussion about the Township's desired approach to revitalization is planned in the coming months, this clause has been tentatively removed from the 2022 document.
ISSUES:
1. Rationale for Selected Option
There is a requirement that the Financial Plan Bylaw, including documented polic...
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