Title
2017 Budget Philosophy, Calendar, Economic Outlook, and Tax Rate Analysis
Proposed Motions
1. That Council receive the 2017 Economic Outlook and Tax Rate Analysis as information; and,
2. That Council approve the 2017 Budget Philosophy and the 2017 Budget Calendar as presented.
Body
Administration Recommendation
Administration supports the proposed motions.
Purpose
To provide Council with information on the 2017 budget process and to receive direction from Council on any program or service level changes.
Summary
The budget process provides an opportunity for Council and Administration to examine all service areas and determine the resources that will be required in the 2017 fiscal year to increase, reduce, or maintain each service. The Municipal Budget puts into operational practice the strategies established in Council's Strategic Plan and the departmental Business Plans.The Municipal Budget will also provide Administration with the resources required to accomplish Council's desired program and service level goals balanced by the expectations of residents and their ability and willingness to pay for those services.
One of the first steps in the annual budget process is for Council to provide direction on program or service level changes for Administration to work with when developing the budget. Financial Services has prepared an Economic Outlook which identifies the economic indicators that will impact the 2017 budget year (Attachment I). Administration has also enclosed the 2017 Budget Philosophy (Attachment II), which outlines the guiding principles Administration is to follow when preparing the budget, a Tax Rate Analysis (Attachment III), and the 2017 Budget Calendar (Attachment IV) which provides key dates for the completion and Council approval of the 2017 Budget on Tuesday, December 13th, 2016 and the Final Budget on Tuesday, April 11, 2017.
Strategic Plan/Policy/Legal/Staff Implications
Core Value - Responsibility: Parkland County will conduct itself in an open and transparent manner, and provide quality service to residents and clients through efficient and effective practices while we undertake continuous improvement.
Municipal Government Act Sections 242 to 246.
Financial Impact:
Cost: N/A
Source of Funding: N/A