Title
2023 Budget Philosophy and Five Year Financial Plan
Proposed Motions
1. That Council approve the 2023 Budget Philosophy, as presented.
2. That Council receive the Five Year Financial Plan for information, as presented.
Body
Administration Recommendation
Administration supports the proposed motions.
Purpose
To provide Council with information on the 2023 budget process and the Five Year Financial Plan.
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 2023 fiscal year to increase, reduce, or maintain each service. The Municipal Budget puts into operational practice the broad objectives established in Council's Strategic Plan. 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.
Administration has enclosed the 2023 Budget Philosophy (Attachment 2) and the Five Year Financial Plan (Attachment 3) which outline the guiding principles Administration follows through the process.
Strategic Plan/Policy/Legal/Staff Implications
Pillar - Responsible Leadership
Guiding Principle 4.1: We are recognized leaders in municipal governance, managing our resources responsibly and sustainably, ensuring we leave a vibrant and resilient community legacy to those that follow us.
Core Value - Responsibility: We focus on operating in an efficient, reliable, and cost effective manner, acting today with the interests of tomorrow in mind.
Municipal Government Act Sections 242 to 246.