2024-2028 Five Year Financial Plan Deliberations: Consideration of Reserve Transfers

"The Director of Finance presented options to lower the initially proposed 10% tax increase (on prior year assessment) by reducing reserve contributions (Capital Works, Police Operating Reserve) or deferring the transition of West Shore Parks & Recreation funding from Casino revenue to taxation. Council members indicated desired maximum tax increases ranging from 7% to 9.9%, signaling an appetite for reducing or deferring reserve contributions to ease the tax burden on residents facing high cost of living pressures."