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THIS PROJECT IS COMPLETE
Understanding the Municipal Budget
How does the budget process work?
Legislation requires municipalities to prepare a financial plan, or budget, every year that includes the current fiscal year and the next five fiscal years (five-year plan). The financial plan includes both operating and capital budgets for each year.
Both the Financial Plan and Tax Rates Bylaws must be adopted each year before May 15.
What is involved in budgeting considerations?
Municipalities are required to prepare a balanced budget each year. To achieve this, District staff must identify revenue sources to fund all anticipated expenditures.
District staff consider many factors while preparing the proposed financial plan, including:
Council's Strategic Plan
Past year’s actual spending and required adjustments to the operating budget.
Changes in scope or cost estimates of approved capital projects.
New equipment or capital projects that require funding.
Potential new staffing requirements.
How is the public involved?
Tofino residents and businesses are encouraged to make Council aware of your priorities, whether you value more parks, childcare, reserves for infrastructure, or lower taxes. We invite you to attend budget meetings, learn about the process, understand the issues and the challenges, and let Council know your thoughts. District staff are available to answer questions, distribute your feedback to Council, and provide clarity.
THIS PROJECT IS COMPLETE
Understanding the Municipal Budget
How does the budget process work?
Legislation requires municipalities to prepare a financial plan, or budget, every year that includes the current fiscal year and the next five fiscal years (five-year plan). The financial plan includes both operating and capital budgets for each year.
Both the Financial Plan and Tax Rates Bylaws must be adopted each year before May 15.
What is involved in budgeting considerations?
Municipalities are required to prepare a balanced budget each year. To achieve this, District staff must identify revenue sources to fund all anticipated expenditures.
District staff consider many factors while preparing the proposed financial plan, including:
Council's Strategic Plan
Past year’s actual spending and required adjustments to the operating budget.
Changes in scope or cost estimates of approved capital projects.
New equipment or capital projects that require funding.
Potential new staffing requirements.
How is the public involved?
Tofino residents and businesses are encouraged to make Council aware of your priorities, whether you value more parks, childcare, reserves for infrastructure, or lower taxes. We invite you to attend budget meetings, learn about the process, understand the issues and the challenges, and let Council know your thoughts. District staff are available to answer questions, distribute your feedback to Council, and provide clarity.
Share Watch: Report to Council - April 23, 2024 on FacebookShare Watch: Report to Council - April 23, 2024 on TwitterShare Watch: Report to Council - April 23, 2024 on LinkedinEmail Watch: Report to Council - April 23, 2024 link
Share Watch: Special Council Meeting - March 13, 2024 on FacebookShare Watch: Special Council Meeting - March 13, 2024 on TwitterShare Watch: Special Council Meeting - March 13, 2024 on LinkedinEmail Watch: Special Council Meeting - March 13, 2024 link
On March 13, 2024, District of Tofino staff presented a third draft of the 2024-2028 Financial Plan to Mayor & Council.
On March 13, 2024, District of Tofino staff presented a third draft of the 2024-2028 Financial Plan to Mayor & Council.
Share Special Council Meeting: March 13, 2024 on FacebookShare Special Council Meeting: March 13, 2024 on TwitterShare Special Council Meeting: March 13, 2024 on LinkedinEmail Special Council Meeting: March 13, 2024 link
Corporate services will present the updated 2024-2028 Draft Financial Plan to Council.
Time: 08:30 AM
Where: Tofino Council Chambers & Online via Zoom/YouTube
Corporate services will present the updated 2024-2028 Draft Financial Plan to Council.
Time: 08:30 AM
Where: Tofino Council Chambers & Online via Zoom/YouTube
Share Watch: Special Council Meeting - February 15, 2024 on FacebookShare Watch: Special Council Meeting - February 15, 2024 on TwitterShare Watch: Special Council Meeting - February 15, 2024 on LinkedinEmail Watch: Special Council Meeting - February 15, 2024 link
On February 15, 2024, District of Tofino staff presented a second draft of the 2024-2028 Financial Plan to Mayor & Council.
On February 15, 2024, District of Tofino staff presented a second draft of the 2024-2028 Financial Plan to Mayor & Council.
Share FINANCIAL PLAN TOWN HALL: January 30, 2024 on FacebookShare FINANCIAL PLAN TOWN HALL: January 30, 2024 on TwitterShare FINANCIAL PLAN TOWN HALL: January 30, 2024 on LinkedinEmail FINANCIAL PLAN TOWN HALL: January 30, 2024 link
The District of Tofino invites residents to the upcoming Financial Plan Town Hall scheduled for Tuesday, January 30, 2024, from 4 to 6 PM.
The event will take place in the Tofino Council Chambers at the District of Tofino Municipal Hall.
During the Town Hall, District staff will provide key information to residents regarding the District's fiscal vision for the next 5 years including updates on capital infrastructure projects, community recreation initiatives, and more.
This interactive session offers an opportunity for residents to directly engage with District staff, Mayor Law, and Council who are eager to address any questions or feedback related to the proposed projects outlined in the financial plan.
Refreshments and light snacks will be provided.
Your participation is valued as we collectively shape the future of our community.
The District of Tofino invites residents to the upcoming Financial Plan Town Hall scheduled for Tuesday, January 30, 2024, from 4 to 6 PM.
The event will take place in the Tofino Council Chambers at the District of Tofino Municipal Hall.
During the Town Hall, District staff will provide key information to residents regarding the District's fiscal vision for the next 5 years including updates on capital infrastructure projects, community recreation initiatives, and more.
This interactive session offers an opportunity for residents to directly engage with District staff, Mayor Law, and Council who are eager to address any questions or feedback related to the proposed projects outlined in the financial plan.
Refreshments and light snacks will be provided.
Your participation is valued as we collectively shape the future of our community.
Share Watch: Special Council Meeting December 5, 2023 on FacebookShare Watch: Special Council Meeting December 5, 2023 on TwitterShare Watch: Special Council Meeting December 5, 2023 on LinkedinEmail Watch: Special Council Meeting December 5, 2023 link
On December 5, 2023, District of Tofino staff presented a first draft of the 2024-2028 Financial Plan to Mayor & Council.
On December 5, 2023, District of Tofino staff presented a first draft of the 2024-2028 Financial Plan to Mayor & Council.
Departmental budgets are developed and submitted to Financial Services for review and consolidation.
October – March: Budget Presentations & Public Engagement
2024 Budget has finished this stage
Special Budget Meetings provide a high-level overview of proposed projects for the next 5 years for Councils consideration. During these meetings, the public have an opportunity to ask questions or provide comments about proposed expenditures.
Public feedback is presented to Council in conjunction with staff recommendations. Council prioritizes initiatives and projects and directs staff to make changes where necessary.
January – April: Balance Budget & Develop Tax Rates
2024 Budget has finished this stage
Municipalities are required to prepare a balanced budget in which revenues equal expenditures.
Before May 15: Adoption of Bylaws
2024 Budget is currently at this stage
The Financial Plan and Tax Rates bylaws must be submitted to the Ministry responsible for Municipal Affairs prior to this date each year.
