2024 Budget

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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.


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.

Ask Us Your Questions About the Financial Planning Process?

District of Tofino Mayor, Council and staff greatly value community input. 

You need to be signed in to add your question.

  • 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 Facebook 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 Twitter 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 Linkedin Email 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 3 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.

Page last updated: 26 Apr 2024, 12:02 PM