2025 FINANCIAL PLAN TIMELINE
An informational report regarding the schedule for public engagement and adoption of the 2025 budget and tax rate bylaws.
TOWN OF VIEW ROYAL COUNCIL REPORT
TO: Council DATE: March 17, 2025 FROM: Scott Sommerville, Chief Administrative Officer MEETING DATE: March 18, 2025
2025 FINANCIAL PLAN TIMELINE
RECOMMENDATION:
THAT the Chief Administrative Officer’s March 17, 2025 report entitled “2025 Financial Plan Timeline” be received.
ALTERNATIVE OPTION:
Option #2: THAT Council provide an alternative budget timeline within the legislatively required bylaws adoption date of May 15, 2025.
PURPOSE:
The purpose of this report is to inform Council of the timeline for the 2025 budget process.
BACKGROUND:
As described in the Director of Finance’s report included on the March 18, 2025 agenda, the Community Charter requires that local governments approve a five-year financial plan bylaw and a tax rates bylaw on or before May 15 of each year.
DISCUSSION:
With changes in the Finance Department over the past several months, Council has been apprised that the budget process for 2025 would be different than in previous years though some aspects, such as public engagement, remain in place.
One of these differences is the timeline. The following provides an overview of the 2025 financial plan timeline:
| Date/Meeting: | Activity: | Additional comments: |
|---|---|---|
| March 11 – Committee of the Whole meeting | Chief Administrative Officer presented “Financial Plan Insights 2025-2029” report | Report discussed Council priorities, View Royal in a regional context, user fees, grants and transfers, Casino revenue, debt and financing, expenses, and asset management. |
| March 18 – Council meeting | Director of Finance to present “2025 Draft Financial Plan Overview and Drivers” report | Report discusses major budget drivers, draft residential property tax increase, and a consistent tax rate setting approach. |
| March 19 | Public review and engagement | Will use “Engage View Royal”, the platform recently launched by the Town for public engagement on projects and initiatives. Brief survey will run to April 2 to allow time for feedback to be added to the April 8 CoW agenda package. |
| April 8 – Committee of the Whole meeting | Budget workshop for full CoW meeting | Deliberation of new projects. Consideration of results from public review and engagement period. |
| April 15 – Council meeting | First 3 readings of financial plan and tax rates bylaws | |
| May 6 – Council meeting | Adoption of financial plan and tax rates bylaws |
May 13 has been set aside for a special Council meeting if required for bylaw consideration.
ANALYSIS:
Impacts and implications can be summarized as follows:
- Community Impact: Use of “Engage View Royal” will allow people to provide their feedback on the budget drivers and additional comments for Council’s consideration.
- Financial Implication: Bylaws must be adopted on or before May 15, 2025 to ensure the financial operations of the municipality can continue.
- Inter-Governmental Relations Impact: The budget contains portions that are payable to other jurisdictions and agencies (for example, Capital Regional District, West Shore Parks and Recreation, Greater Victoria Public Library).
ALIGNMENT:
The recommended option aligns with the Town’s following core guiding documents as follows:
Strategic Plan: Priority-Financial Sustainability and Service Excellence:
- Goal 1: Confidence in the fiscal health and financial sustainability of the Town
- Goal 3: Anticipate property tax and user fee increases
Official Community Plan: N/A
PUBLIC PARTICIPATION GOAL:
The desired level of public participation for the recommended option is:
[x] Inform [x] Consult [ ] Involve [ ] Collaborate [ ] Empower [ ] N/A
TIME CRITICAL:
It is important that Council is aware of the timeline for the budget process.
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