1. 2019 BUDGET SUMMARY
March 12, 2019

2. Budget Process
Each department submits core, supplemental and capital requests
Finance prepares preliminary figures regarding the additional tax revenue required to balance the budget
Senior staff meet to deliberate and agree on potential budget reductions to achieve varying levels of tax increases
consider available staff and time resources
ability to defer items
prioritization of all requests

3. OPERATING

4. Creation of Scenarios
Anticipated revenue calculated based on range of percentages
Property tax revenue estimated based on Completed Roll assessed values (Increase of $378M or >10.6%)
PILT revenue based on assessed value figures provided by Public Works Canada (Increase of $47M or 4.5%)
Calculations could change slightly once final assessed values produced (March 31) or if items are added/removed from Financial Plan

5. Revenue Increase Class BCA Increased Value PILT Increased Value
2018 Mill Rate
Additional Revenue 1
$362,282,900
$23,628,000
$1,427,206 2
64,500
1,242 4
958,200
(2,378,700)
(43,209) 5
1,566,500
24,429 6
13,255,450
23,384,100
435,322 8
252,700
2,662,000
12,381
Total
$378,380,250
$47,295,400
1,857,371

6. Fiscal Challenges
Within the draft Financial Plan there are supplemental increases for the police and library budgets as well as negotiated and estimated wage and benefit increases.
The 2018 budget commitments amount of $210,469 consisted of:
Municipal Flooring and Painting
Traffic Study Costs
Development Services Departmental Changes
With a motion to be discussed later tonight about the South Island Prosperity, if this expenditure were to be approved by Council, the percentage increase relating to these items as they stand would be almost 3%

7. Operating Requests
Total Core Expenditure Increase = $121,168 (0.60% increase)
Excluding wage increases and EHT impact
Total Supplementals = $1,470,166
Previously Approved = $34,621
Discretionary = $1,435,545

8. Scenario #1 – Budget Target @ 1%

9. Scenario #2 – Budget Target @ 2%

10. Scenario #3 – Budget Target @ 3%

11. Budget 3%

12. Scenario #4 – Budget Target @ 4%

13. Budget 4%

14. Scenario #5 – Budget Target @ 5%

15. Budget 5%

16. MUNICIPAL COMPARISONS
Municipality
2018 Residential Mill Rate
2018 Total Taxes and Charges
Esquimalt
3.6983
$4,025
Central Saanich
2.8621
$4,574
Colwood
3.0381
$3,538
Langford
2.4624
$2,906
Oak Bay
2.4748
$7,516
Saanich
2.9529
$5,412
Sidney
2.4815
$4,151
Victoria
3.2889
$5,416
View Royal
2.3822
$3,560

17. MUNICIPAL COMPARISONS
Municipality
2018 Business Mill Rate
Esquimalt
Central Saanich
6.1520
Colwood
Langford
7.1411
Oak Bay
6.2902
Saanich
Sidney
7.0680
Victoria
View Royal
8.5761

18. CAPITAL

19. CAPITAL REQUESTS – FUNDING SUMMARY

20. CAPITAL REQUESTS – DEFERRED

21. Council Direction Alternatives:
Direct staff to present tax rate calculations based on a recommended tax rate increase scenario
Revise recommended scenarios and direct staff to present tax rate calculations based on amended scenario
Direct staff to present additional tax revenue increase scenarios