2013 Business Planning Process

Business Planning Process Guidelines Budget Preparation Preparation of Business Plans Management Review Presentations to Council – Departments and service partners – Advertised and open for public attendance

Business Planning Process Budget Finalization – Discussion on budget topics – Direction to prepare the Financial Plan Bylaw Financial Plan Bylaw – Summarizes revenue sources and expenditures for at least five years as required by the Community Charter – Required to be adopted by May 15 th each year Rate Bylaws – Utility Rate Bylaws – Tax Rate Bylaw Establishes mill rates after revised assessment roll is received from BC Assessment Authority

Business Planning Approach Guidelines – Maintain Existing Service Levels – Cost adjustments where known No unspecified inflationary adjustments – Review non-taxation revenues/recoveries – Capital project funding considers reserve availability and long term health Reductions where possible without service impacts – Almost $270,000 in the general fund including: Debt Servicing Costs – reduced $137,200 Police Housing and Support – reduced $44,000 Reduced Fire Call Volume POC Costs – reduced $17,000

Business Planning Total Proposed Operating Budget Balanced at $28.9 million 2.8% increase in Operating Expenditures $353,000 in additional provision for Infrastructure Replacement Reserves $153,900 additional provision for Strategic Capital 2.8%

Business Planning Total Capital Budget Proposed Total Capital budget - $12.04 million – $17.9 million – 2010 – $19.2 million – 2011 – $20.2 million Almost half of the 2013 capital program for Drainage – $4.9 million for Pump Station #4

Business Planning Budget Key Issues Changes in the Assessment Base – Bill 8 changes – Land held for development moved to Class 9 Subsidy in Solid Waste Utility – Curbside organics program Providing for Drainage Infrastructure Replacement – Beyond useful life & very expensive to replace

Business Planning Impact of Proposed Rate Adjustments General municipal property tax - $29. Increased Provision for Strategic Capital - $14. Water – $13. Sewer – $11. Solid Waste – $23. Drainage Utility – $4. Impact on an Average Home

Business Planning Presentation Schedule

December 11 th – Budget Open House – 5:00PM – 6:00PM – Financial Plan Overview – CIC 6:00PM December 13 th – Review & Discussion of Budget Issues December 17 th – Budget Finalization and Direction Financial Plan Bylaw for 3 readings – January 15th