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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.
District of Tofino Mayor, Council and staff greatly value community input.
Share I’ve read through the capital projects part of the budget , and unless I’ve missed it , do not see any plans or finances being allocated to the development soccer and baseball fields … Did I miss it ? Or is this not a priority for the D of T ? on FacebookShare I’ve read through the capital projects part of the budget , and unless I’ve missed it , do not see any plans or finances being allocated to the development soccer and baseball fields … Did I miss it ? Or is this not a priority for the D of T ? on TwitterShare I’ve read through the capital projects part of the budget , and unless I’ve missed it , do not see any plans or finances being allocated to the development soccer and baseball fields … Did I miss it ? Or is this not a priority for the D of T ? on LinkedinEmail I’ve read through the capital projects part of the budget , and unless I’ve missed it , do not see any plans or finances being allocated to the development soccer and baseball fields … Did I miss it ? Or is this not a priority for the D of T ? link
I’ve read through the capital projects part of the budget , and unless I’ve missed it , do not see any plans or finances being allocated to the development soccer and baseball fields … Did I miss it ? Or is this not a priority for the D of T ?
braddusseault
asked
12 months ago
Hi Brad,
Thank you for your question. Staff will be presenting a proposed ballfield upgrade project along with possible funding sources at the February 15, 2024 budget meeting.
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.
