Title
2025 Budget Philosophy, Tax Increase Target and Five-Year Financial Plan
Proposed Motions
1. That the 2025 Budget Philosophy be approved, as presented.
2. That the Five-Year Financial Plan be received as information, as presented.
Body
Administration Recommendation
Administration supports the proposed motions.
Purpose
To provide Council with information on the 2025 Budget Philosophy, Tax Increase Target and Five-Year Financial Plan.
Summary
The Budget Philosophy defines the County's principles of budgetary governance including the development of the Program Budget, and the Operating and Capital Project budgets. Beginning with strategy development, the organization moves through a number of coordinated processes to ensure the alignment of strategic goals with responsible financial management. The municipal budget allocates the resources required to implement Council's Strategic Plan, to deliver key programs and services, and to ensure compliance with legislation such as the Municipal Government Act. The Tax Increase Target outlines current budgetary pressures and opportunities as well as tax rate considerations with a focus on ongoing financial sustainability. The Five-Year Financial Plan provides context to upcoming priorities which enables Council and Administration to focus on long-term strategy development.
Historical Information:
N/A
Strategic Plan/Policy/Legal/Staff Implications:
Municipal Government Act, RSA 2000, c M-26, Sections 242, 243, 245, 246
Financial Impact:
Cost: N/A
Source of Funding: N/A