2025-2029 Financial Plan

Understanding the Municipal Budget

How does the budget process work?

Legislation requires municipalities to prepare a financial plan, or budget, every year, including the current fiscal year and the following four fiscal years (a five-year plan). The financial plan includes 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. District staff must identify revenue sources to fund anticipated expenditures to achieve this.

District staff consider many factors while preparing the financial plan, including:

• Council's Strategic Plan
• The 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 inform Council about their priorities. This could include a desire for more parks, improved childcare services, reserves for infrastructure development, or lower taxes. Council invite you to attend the budget meetings to learn about the process, understand the issues and challenges, and share your thoughts. District staff are available to answer your questions, relay your feedback to Council, and provide clarification as needed.