There is a cost associated with everything the municipality does. Council making and financial decisions are a main priority in council's work. When making those decisions, their role as a public trustee is to safeguard the taxpayer's money and make the best use of scarce financial resources.
Tax rates and information can be found under the Tax Bills and Rates page.
Operating and Capital Budgets
You can find our 2017 budget can be found under the most common folder of our by-law directory or by clicking here. The center of the municipal finance system is the budget.
The council will make decisions that will determine the allocation of money to different assets, services or programs for the next 1 to 4 years. Careful planning and control are essential as the budget is the most important policy decision council has to make every year.
The annual adoption of a capital and operating budget is a requirement for every municipality under the Municipal Government Act. Business tax and property bylaws cannot be passed until both budgets have been adopted. Municipalities are not allowed to budget for a deficit; as well, total actual revenues over a four-year period must be equal to or greater than total actual expenditures.
A long-range capital plan should be in place and will cover 3 to 5 years as well as 3 year operating budgets. The plan incorporates what capital expenditures are needed and when, the eventual cost of maintaining assets when it has been built or purchased, and an outline of how assets will be financed. The budget is a plan of expenditures and revenues over the course of the year. Council is required to monitor operations in order to ensure that the municipal operations match the budget.
They should receive regular financial reports from administration that compare actual results of the budget. Financial reports are a good source of information and budget control. The operating budget is a detailed estimate of how much the municipality needs to spend to meet its ongoing financial obligations and provide programs and services to the residents. The capital budget is money set aside for buying or building fixed assets such as buildings, equipment, vehicles, water and sewer facilities, and land.