Appendix
Schedule A Changes to tax-funded items
April 9, 2024Page 651 section
A spreadsheet showing specific revisions to tax-funded budget items for 2024-2028.
Total property tax revenue required: $12,419,506Revised tax increase: 6.4% including new construction
Schedule A Changes to tax-funded items
Recommended 2024-2028 Financial Plan, April 9, 2024
Changes at February budget workshops in black text Changes subsequent to February workshops in red text
| Description | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|
| Tax revenue from existing assessments | 11,011,533 | 12,220,106 | 13,235,195 | 14,277,976 | 15,090,763 | 15,806,987 |
| Estimated tax revenue from new construction | 103,110 | 199,400 | 100,000 | 100,000 | 100,000 | 100,000 |
| Total property tax revenue required | 11,114,643 | 12,419,506 | 13,335,195 | 14,377,976 | 15,190,763 | 15,906,987 |
| % increase to prior year assessed properties | 10.0% | 9.9% | 6.6% | 7.1% | 5.0% | 4.1% |
Tax requirement increase (decrease)
| Item | Item description | Account or PS | 2024 | 2025 | 2026 | 2027 | 2028 | Comments |
|---|---|---|---|---|---|---|---|---|
| NON-CORE & CAPITAL | ||||||||
| 1 | Communications and engagement coordinator | N-103 | (27,380) | (57,870) | (63,325) | (65,220) | (67,170) | Reduce FTE from 1.0 to 0.5 |
| 2 | Additional policing municipal employees | N-053 | (36,000) | - | - | (84,300) | - | Employee additions mid-2024 and 2027 |
| 3 | Additional RCMP members | N-054 | (119,000) | - | (172,000) | (177,000) | (365,000) | RCMP additions Oct 1, 2024 and 2027 |
| 4 | Full-time fire personnel | N-085 | (26,675) | - | - | - | - | Defer start date to April 1, 2024 |
| 5 | Community Planner | N-115 | (67,511) | (120,542) | (137,460) | (140,839) | (144,309) | 2024 only; change funding to 30% LGCAP / 70% GCF |
| OPERATIONAL | ||||||||
| 13 | Curb and sidewalks - Burnside Rd W - Helmcken to Saanich border | C-117 | - | - | (1,000) | - | - | Defer operational cost of capital for deferred project |
| 14 | Drone | C-181 | (2,500) | (2,500) | (1,000) | (500) | (500) | Remove operational cost of capital |
| 15 | Noise barrier fencing Hwy 1 offramp at Six Mile Road | C-179 | (2,000) | (2,000) | (2,000) | (2,000) | (5,000) | Remove operational cost of capital (study only) |
| 16 | Development of road ends | C-114 | (2,000) | (1,000) | (1,000) | (1,000) | (1,000) | Defer operational cost of capital for deferred project |
| 17 | Disc golf course | C-116 | - | - | - | (250) | (250) | Remove operational cost of capital |
| 18 | RCMP contract cost correction | 1-2-02000-310 | 93,000 | 144,000 | 170,000 | 190,000 | 221,560 | Cost per member estimate increase |
| TRANSFERS | ||||||||
| 20 | Transition to taxation for WSPR | 1-1-00557-866 | (55,500) | (112,650) | (105,500) | (95,600) | (84,000) | Defer transition start to 2026 |
| 21 | Police operating reserve contributions | 1-2-01013-860 | (27,750) | - | - | - | - | Reduce contributions by 0.25% of taxation total |
| 22 | Use of accumulated surplus | 1-1-00500-170 | (27,750) | - | - | - | - | Increase draw from $150K to $177,750 |
| 23 | Police operating reserve contributions | 1-2-01013-860 | (93,000) | - | - | - | - | Funding for revised cost estimate increase |
| Total change in tax requirement | (394,066) | (152,562) | (313,285) | (376,709) | (445,669) |
2024-2028 Financial Plan, as revised
| Description | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| Revised property tax revenue requirement | 11,826,040 | 13,082,633 | 13,964,691 | 14,714,054 | 15,361,318 |
| Non-market change estimate | 199,400 | 100,000 | 100,000 | 100,000 | 100,000 |
| Revised total property tax revenue | 12,025,440 | 13,182,633 | 14,064,691 | 14,814,054 | 15,461,318 |
| Revised % increase | 6.4% | 8.8% | 5.9% | 4.6% | 3.7% |
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Extracted from: 2024 04 09 Committee of the Whole Agenda - Agenda - Pdf