COUNCIL REPORT: 2025-2029 FINANCIAL PLAN BYLAW NO. 1153
Report recommending the introduction and first three readings of the five-year financial plan bylaw, incorporating recent budget amendments.
TOWN OF VIEW ROYAL COUNCIL REPORT
TO: Council DATE: April 22, 2025 FROM: Steven Vella, Director of Finance MEETING DATE: May 6, 2025
2025-2029 FINANCIAL PLAN BYLAW NO. 1153
RECOMMENDATION:
THAT Financial Plan Bylaw No. 1153, 2025 a bylaw to authorize the financial plan for the years 2025-2029, be introduced and given first, second, and third readings.
TIME CRITICAL:
Provincial legislation requires Council to adopt a balanced five-year financial plan bylaw in advance of the annual tax rates bylaw, which must be adopted before May 15 each year. Delaying adoption of the five-year financial plan bylaw may create the need for additional Special Council meetings to meet statutory deadlines.
EXECUTIVE SUMMARY:
On April 8, 2025, the Committee of the Whole recommended to Council to amend the draft 2025-2029 Financial Plan, and that a Tax Rates Bylaw be prepared that includes the required tax revenue in order to reduce the taxation increase on a representative home from 11.25% to 9.8% with no changes in multiples from the previous year; and that the difference be funded from accumulated surplus.
Subsequently, at its April 15, 2025, meeting, Council further resolved that the Town undertake a public competitive process for its Boulevard Maintenance contract targeting an annual cost of $400,000 and the current level of service. The financial is a reduction of $331,091, to the boulevard maintenance operating budget, funded from taxation, resulting in a further reduction of the taxation increase on a representative home from 9.8% to 7.06%.
Bylaw No. 1153 (attached), being the 2025-2029 Financial Plan Bylaw, implements the financial plan, incorporating Council’s decisions as described above.
The financial plan bylaw and related budget documents will be available to the public on View Royal’s website and at the front counter. Additionally, after adoption, a certified copy of the bylaw will be submitted to the Local Government Finance department of the Ministry of Municipal Affairs prior to the May 15, 2025 deadline.
BACKGROUND:
On April 8, 2025, Committee recommended the 2025-2029 Financial Plan as proposed, with the following amendments:
| Item | Change Description | Year | $ Change | Funding |
|---|---|---|---|---|
| Permits and licensing portal (N-130) | Tabled until such time as Council has considered an options analysis report | 2025 | ($40,000) | Casino revenue |
| Permits and licensing portal (C-185) | Tabled until such time as Council has considered an options analysis report | 2026 | ($50,000) | Casino revenue |
| Island Highway and Prince Robert Drive realignment (C-175) | Moved from 2025 to 2026 | 2025 | ($310,000) | Capital Works and Land reserve/DCCs |
| Traffic Count Data Collection – Various Neighbourhoods (N-126) | Removed from the 2025-2029 Financial Plan | 2026 | ($25,000) | Casino revenue |
| Accessibility – Council Chambers exterior ramp (C-188) | Deferred to 2026 due to its connection to the Parks Shed Electrification Upgrade (C-191) capital project identified for 2026 | 2025 | ($15,000) | Casino revenue (Grant if available and approved) |
| Transfer from prior year surplus (00500) | To reduce the taxation increase on a representative home from 11.25% to 9.8% | 2025 | $175,004 | Prior year surplus |
In addition, staff identified two amendments to the draft budget presented April 8, 2025:
| Item | Change Description | Year | $ Change | Funding |
|---|---|---|---|---|
| Crossing Guard Program | Addition to core operating | 2025 | $45,565 | Casino revenue |
| Curb and sidewalk replacement - Helm. Eagle Cr. To Burnside | Remove per Council motion March 18th | 2025 | ($225,000) | DCCs, Community Works Fund |
On April 15, 2025, Council resolved to make the following amendment:
| Item | Change Description | Year | $ Change | Funding |
|---|---|---|---|---|
| Boulevard Maintenance Contract (03300) | THAT the Town undertake a public competitive process for its Boulevard Maintenance Contract targeting an annual cost of $400,000 and the current level of service | 2025 | ($331,091) | Taxation revenue |
DISCUSSION:
Bylaw No. 1153 (attached), being the 2025-2029 Financial Plan Bylaw, represents the amended financial plan for Council’s approval.
The 2025-2029 Financial Plan Bylaw (No. 1153) presents the consolidated five-year financial plan in four schedules, described as follows:
- Schedule A Consolidated Financial Plan describes the revenue, expense, resulting operational annual surplus or deficit, capital expenditures, reserves, surplus, debt and total financial plan surplus or deficit. Provincial legislation requires the financial plan to be balanced: the total of all expenditures and transfers to other funds must not exceed the total funding sources and transfers from other funds in any year of the plan. Bylaw 1153 indicates a balanced budget with a zero-dollar financial plan surplus (deficit) at the bottom of Schedule A.
- Schedule B Consolidated Capital Plan details the sources of revenue and expenditures for capital activities for the five-year plan.
- Schedule C Consolidated Reserves Plan identifies the transfers from and to reserves for each fund and the net transfers for each year of the five-year plan.
- Schedule D Financial Plan Objectives and Policies describes the objectives and policies relating to financial plan funding sources, property value taxes, and permissive tax exemptions for the five-year plan.
SUSTAINABILITY/CLIMATE CHANGE IMPACTS:
The recommendation in this report has no significant direct impact to View Royal’s sustainability or climate change.
FINANCIAL IMPLICATIONS:
There are no additional financial implications other than those described in other sections of this report.
ALTERNATIVES:
CONCLUSION:
The Community Charter requires that local governments adopt a five-year financial plan prior to adoption of the tax rates bylaw, which is required on or before May 15 each year. The financial plan may be amended by bylaw at any time. Bylaw 1153, being the 2025-2029 Financial Plan Bylaw, implements the financial plan approved by Council and meets the requirements of the Community Charter.
| CONCURRENCE: | Initials | Comments |
|---|---|---|
| Chief Administrative Officer | SS | I concur with the recommendation. |
| REVIEWED BY: | Initials |
|---|---|
| Director of Corporate Administration | n/a |
| Director of Finance | SV |
| Director of Development Services | n/a |
| Director of Engineering and Parks | n/a |
| Director of Protective Services | n/a |
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