Title
2015 to 2018 Operating and Capital Budget Philosophy and Budget Calendar
Proposed Motion
That Council approve the 2015 to 2018 Operating and Capital Budget Philosophy and Budget Calendar as presented and;
that Administration prepare the 2015 Budget on the basis of a 3.22% tax rate increase.
Body
Administration Recommendation
Administration supports the proposed motion.
Purpose
To provide Council with information on the 2015 to 2018 budget cycle process and receive direction from Council on any budget parameters Administration needs to work within.
Summary
The budget process provides an opportunity for Council and Administration to examine all service areas from a budget perspective and determine the amount of resources that will be required in the current year and the future three years to improve, 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 provide administration with the resources needed to accomplish Council's desired program and service level goals balanced by the expectations of residents for service levels with 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 and/or parameters for Administration to work within when developing the budget. In order to provide assistance to Council, Financial Services has prepared an Economic Outlook which identifies the projected economic impacts on the 2015 budget year (Attachment I). Administration has also enclosed the 2015-2018 Operating and Capital 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 2015-2018 Budget Calendar (Attachment IV) which provides key dates for the completion and Council approval of the interim budget on Tuesd...
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