Presentation
DRAFT 2025-2029 FINANCIAL PLAN Presentation
April 8, 2025Pages 101–1032 sections
A slide deck summarizing the key drivers of the 2025 budget and options for taxation reduction.
April 8, 2025$1,442,700 draft property tax revenue increase11.25% average home taxation increase$8.4 million unrestricted accumulated surplus (unaudited)
TOWN OF VIEW ROYAL DRAFT 2025-2029 FINANCIAL PLAN
April 8, 2025
Page 101–103
DRAFT PROPERTY TAX REVENUE INCREASE DRIVERS $1,442,700
- Fire Department: $475,900
- Non-market change to SIRP Asset Replacement: $285,400
- RCMP EComm 911 Dispatch: $276,600
- RCMP Contract and civilian support staff: $169,600
- Sustainable Infrastructure Replacement Plan: $124,200
- Other expenses and revenue changes combined: $76,100
- Projected development permit revenue decrease: $72,000
- Information Technology Coordinator, 0.6 to 1.0 FTE: $54,700
- Greater Victoria Public Library: $36,100
- West Shore Parks and Recreation: $22,100
- Increase in Investment Income: ($150,000)
Draft 2025-2029 Financial Plan
- Public engagement – March 19 to April 2, 2025
- 36 respondents
- Taxation Increase: 11.25%
- 2025 Average Home Taxation increase: $249
- One percent taxation revenue = $120,025
- 1.25% decrease = $150,031
- Sources of taxation reduction:
- Unrestricted accumulated surplus ($8.4 Million - unaudited as at December 31, 2024) – Recommended
- Reduce annual contribution to Capital Renewal Reserve – Not Recommended
- Use combination of surplus and reduced Capital Renewal Reserve contribution
Page 101–103
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Extracted from: 2025 04 08 Committee of the Whole Agenda - Agenda - Pdf