Appendix
Schedule A Changes to tax-funded items
April 11, 2023Page 801 section
A table detailing budget adjustments for non-core, capital, and operational items funded by property taxes for the 2023-2027 period.
Revised total property tax revenue for 2023: $11,114,643Deferral of policing municipal employee start to 2024 ($50,000 reduction)
2023-2027 Financial Plan Approval
Schedule A Changes to tax-funded items
Budget workshop sessions February 14-16, 21 and 22, 2023 and subsequent items
PROPOSED 2023-2027 Financial Plan, March 13, 2023
| 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|---|
| Tax revenue from existing assessments | 9,965,165 | 11,363,843 | 12,141,706 | 14,064,288 | 14,696,865 | 15,264,838 |
| Estimated tax revenue from new construction | 47,689 | 94,150 | 100,000 | 100,000 | 100,000 | 100,000 |
| Total property tax revenue required | 10,012,854 | 11,457,993 | 12,241,706 | 14,164,288 | 14,796,865 | 15,364,838 |
| % increase to prior year assessed properties | 5.71% | 13.37% | 5.92% | 14.77% | 3.73% | 3.14% |
Tax requirement increase (decrease)
- Changes at February budget workshops in black text
- Changes subsequent to February workshops in red text
| Item | Item description | Account or PS reference | 2023 | 2024 | 2025 | 2026 | 2027 | Comments |
|---|---|---|---|---|---|---|---|---|
| NON-CORE & CAPITAL | ||||||||
| 1 | Policing municipal employee | N-053 | (50,000) | (25,000) | (2,850) | (1,450) | (1,450) | Deferred start to 2024 |
| 2 | Wildfire fuel management (renamed) | N-078 | (25,000) | (25,000) | (25,000) | (25,000) | (25,000) | Fund 2023 only from Casino; revisit in 2024 |
| 3 | Digital signature certificate service | N-059 | (5,000) | (4,000) | (4,100) | (4,200) | (4,300) | Removed |
| 4 | Internet failover service | N-100 | (10,200) | (20,400) | (20,800) | (21,250) | (21,700) | Removed |
| OPERATIONAL | ||||||||
| 13 | Revised revenue estimate-FortisBC fee | 1-1-00340-123 | (20,750) | (20,000) | (20,000) | (20,000) | (20,000) | Updated information from FortisBC |
| 14 | Watkiss Way sidewalk - Eagle Creek to Stoneridge Dr. | C-081 | (1,000) | (1,000) | (1,000) | Operational cost of capital; project removed | ||
| 15 | Curb and sidewalks - Burnside Rd W - Helmcken to Saanich border | C-117 | 1,000 | - | Operational cost of capital; project advanced to start in 2024 | |||
| 16 | Bus shelter installation program | C-139 | - | (800) | (1,600) | (2,400) | (2,400) | Reduce 2023 budget by 50%, remove future years, revisit in future |
| 17 | Parks signage and wayfinding | C-124 | (250) | (500) | (750) | (750) | (1,000) | Operational cost of capital; project removed |
| 18 | Update to parks and trails map | 1-2-05100-310 (move to 07100) | 5,000 | (5,000) | Advanced to 2024, move to a/c 1-2-07100-310 | |||
| 19 | Council attendance at conventions | 1-2-01100-260 | (34,150) | Reduced, 2023 Mayor at UBCM only | ||||
| TRANSFERS | ||||||||
| 20 | Capital works and land | 1-2-01002-860 | (60,000) | |||||
| 21 | Capital renewal | 1-2-01022-860 | (6,000) | |||||
| 22 | Park improvement | 1-2-01023-860 | (20,000) | |||||
| 23 | Future expenditures | 1-2-01021-860 | (2,000) | |||||
| 24 | Public art acquisition | 1-2-01026-860 | (60,000) | (61,200) | (62,400) | (63,700) | (64,900) | |
| 25 | Contribution to RCMP debt reserve | 1-2-01013-860 / 1-1-00500-172 | 100,000 | 200,000 | (300,000) | - | - | |
| 26 | Draw from surplus | 1-1-00500-170 | (150,000) | - | - | - | - | |
| Total | (343,350) | 48,100 | (443,500) | (138,750) | (141,750) |
2023-2027 Financial Plan, as revised
| 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|
| Revised property tax revenue requirement | 11,020,493 | 12,189,806 | 13,620,788 | 14,558,115 | 15,123,088 |
| Non-market change estimate | 94,150 | 100,000 | 100,000 | 100,000 | 100,000 |
| Revised total property tax revenue | 11,114,643 | 12,289,806 | 13,720,788 | 14,658,115 | 15,223,088 |
| Revised % increase | 9.97% | 9.59% | 10.74% | 6.06% | 3.15% |
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Extracted from: 2023 04 11 Committee of the Whole Agenda - Agenda - Pdf