1. 2012 – 2016 FINANCIAL PLAN OVERVIEW City of Pitt Meadows DM #94656

2. 2012-2016 Financial Plan 2 AGENDA  Financial Planning Process  Highlights of the 2012 Proposed Budget  Non Market Growth  Budget Risk  Taxpayer Impact  Long Term Considerations

3. 2012-2016 Financial Plan Process 3  Setting of Targets & Guidelines  Budget Preparation  Preparation of Business Plans  Review with Management  Presentations to Council  All presentations are advertised and the public is encouraged to attend

4. 2012-2016 Financial Plan Process 4  Budget Finalization  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

5. 2012-2016 Financial Plan Budget Highlights 5 2012 WATER UTILITY HIGHLIGHTS  GVWD Levy increase – 5.9%  Contributions to Reserves - $711,000  Capital Program of $1.39M  Blakely Road Main Replacement  Ford Road Main Replacement  Water Meter Program  Proposed water rate increase – 3.5% on flat charges, GVWD rate flowed through for metered  Impact of $14 on average home

6. 2012-2016 Financial Plan Budget Highlights 6 2012 SEWER HIGHLIGHTS  GVSDD Levy increase – 3.5%  Contributions to reserves $333,500  Capital Program of $875,000  114B Lift Station Replacement  Proposed sewer rate increase – 3.5%  Impact of $11 for average home

7. 2012-2016 Financial Plan Budget Highlights 7 2012 SOLID WASTE HIGHLIGHTS  Increase in tipping fees of 10.3%  Proposed Curbside Organics Collection  Total increased operating costs - $128,000  Would result in a rate increase of 11.3%  Impact of $27 for average home  Propose Tax Rate Stabilization Offset  Hold rate increase to 5%, “Status Quo” level  Impact of $11 for an average home

8. 2012-2016 Financial Plan Budget Highlights 8 2012 DRAINAGE HIGHLIGHTS  Increased operating costs - $47,000  Maintenance & Cleaning  Contributions to reserves $335,200  Proposed Capital Program of $2.14M  Mckechnie Drainage Area Improvements  Mckechnie Floodbox  Culvert Replacements  Funded through drainage levies and separate mill rate  Proposed rate increase of 3.5%  Impact of $4 for average home

9. 2012-2016 Financial Plan Budget Highlights 9 GENERAL FUND- 2012 OPERATING HIGHLIGHTS  Total operating budget of $19.4 million  6.3% increase in planned expenditures  Key Service Drivers:  New Library Operating Costs  Increased Provisions to Asset/Infrastructure Reserves  Strategic Capital Reserve Provision  Reduce Tax Rate Stabilization Subsidy  Debt Service Costs for New/Upgraded Facilities

10. 2012-2016 Financial Plan Budget Highlights 10

11. 2012-2016 Financial Plan Budget Highlights 11 NON-MARKET CHANGE IN ASSESSMENT

12. 2012-2016 Financial Plan Budget Highlights 12 REVENUE FROM NON-MARKET CHANGE

13. 2012-2016 Financial Plan Budget Highlights 13 TAXATION BY ASSESSMENT CLASS

14. 2012-2016 Financial Plan Budget Highlights 14 2012 GENERAL FUND CAPITAL HIGHLIGHTS  General Capital Program of $4.8M – McMyn Park Development – Caretaker House at Pitt Meadows Athletic Park – Harris Park Sports Field Reno – Kennedy Road Repave – Lougheed to Ferry Slip – Thompson Road Bridge Replacement  Funded by Reserves, Development Cost Charge’s, Third Party Contributions, Grants and Borrowing

15. 2012-2016 Financial Plan Budget Highlights 15 CAPITAL DECISION PACKAGES  Pedestrian Activated Traffic Signal - $81,000  Bikeway and Pedestrian Master Plan - $35,000  Paperless Agenda Implementation - $15,000

16. 2012-2016 Financial Plan Budget Highlights 16 WHERE THE MONEY GOES

17. 2012-2016 Financial Plan Budget Highlights 17 WHERE THE MONEY COMES FROM

18. 2012-2016 Financial Plan Budget Risks 18  Assessment appeals  Vacancy allowances have been made for RCMP staffing  Allowances for potential staffing vacancies based on past patterns  Land Sale – Timing and how Council decides to allocate proceeds  Debt Servicing Rates  Inflation gap  Little in discretionary spending

19. 2012-2016 Financial Plan Taxpayer Impact 19

20. 2012-2016 Financial Plan Taxpayer Impact 20 GROSS CHARGES ON THE BILL

21. 2012-2016 Financial Plan Taxpayer Impact 21

22. 2012-2016 Financial Plan Long Term Considerations 22  Regular increases in funding for reserves for replacing assets/infrastructure  Continued increases in provisions for Strategic Capital initiatives  Inflationary adjustments for other expenditures where not specifically known  Revenue from growth in the assessment base of approximately 2.5% per annum

23. 2012-2016 Financial Plan Conclusion 23 GENERAL FUND OPTIONS

24. 2012-2016 Financial Plan 24 Thank You Dean Rear, CA Director of Finance (604) 465 – 5454 or drear@pittmeadows.bc.ca