2016 – 2020 Five Year Financial Plan Each year, the District of Sooke Council must adopt a five year financial plan, with the current year of the plan being the annual budget. The financial plan identifies both operating and capital expenditures balanced against revenues from such sources as:
- property tax
- sale of services
- transfers from other governments
The financial plan is developed by Council through their strategic planning process and identifies for staff and the public what types and quality of services are to be provided. A public consultation process is required for the financial plan and the municipality must produce annual audited financial statements in accordance with generally accepted accounting principles Public Sector Accounting Board of the Canadian Institute of Chartered Accountants. The audited statements must be included in the Annual Municipal Report.
2016-2020 Five Year Financial Plan
January 6, 2016
Over the next few months, District of Sooke Council will go through the process of approving the Financial Plan and Property Tax Rates for 2016. The process involves open dialogue and consultation with the residents of the District of Sooke with many opportunities for the public to find out more about the District’s budgeting process. The Five Year Financial Plan and Tax Rate bylaws must be adopted by May 15, 2016.
View Regular and Committee of the Whole meetings outlined below online at Agenda and Minutes.
2016-2020 Financial Plan Development Calendar
|January 25, 2016||The Director of Finance presents to Council a review of Preliminary Assessment Information.|
|February 2016||The Director of Finance presents to the Committee of the Whole the Draft 2016-2020 Financial Plan.|
|February/March 2016||The Director of Finance presents to Committee of the Whole the departmental presentation working papers for discussion:
|March 2016||The Director of Finance presents to Committee of the Whole the Proposed 2016-2020 Five Year Financial Plan.|
|March/April 2016||Council approves the 2016-2020 Five Year Financial Plan.|
|April 2016||BC Assessment Authority provides the electronic copy of Revised Roll.|
|April 2016||The Director of Finance presents to Council the 2016-2020 Final Revenue Forecast (BCAA) and tax rates.|
|April 2016||Council introduces and gives first, second and third reading of the 2016 Five Year Financial Plan Bylaw and Property Tax Rate Bylaw, 2016.|
|Before May 16, 2016||Council adopts the 2016 Five Year Financial Plan Bylaw and 2016 Property Tax Rate Bylaw.|