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
grants
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.

2017-2021 Five Year Financial Plan

Over the next few months, District of Sooke Council will go through the process of approving the Financial Plan and Property Tax Rates for 2017. 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, 2017.

View Regular and Special meetings (ALL open to the public) outlined below online at Agenda and Minutes.

Date	2017-2021 Financial Plan Development Calendar
March 8, 2017	Review of Departmental Budgets: CAO Budget Overview, 2017 Budget Overview, Protective Services (RCMP, Fire Department), Council , Corporate Services,Financial Services, Revenues, Development Services, capital budget, Wastewater (Note: Click on the department name to link to the presentation that was provided at the meeting. CAO and RCMP were verbal, following along with the Five Year Plan budget specific to that area, as presented below.) 2017 – 2021 Five Year Financial Plan as presented at March 8, 2017 Special Council meeting
March 9, 2017	Review of Departmental Budgets continued (remainder of items that do not get addressed the night before) 2017 – 2021 Five Year Financial Plan as presented at March 9, 2017 Special Council meeting
March 13, 2017	Review of Departmental Budgets continued (remainder of items that do not get addressed the night before) 2017 – 2021 Five Year Financial PLan as received at March 13, 2017 Regular Council meeting
March 22, 2017	Community Grant Application Presentations & Review
March 23, 2017	Community Grant Application Presentations & Review continued
March 29, 2017	Budget Finalization: Council approves the 2017-2021 Five Year Financial Plan. (Possible first, second and third reading of the 2017 Five Year Financial Plan Bylaw)
March 30, 2017 (if required)	Budget Finalization: Council approves the 2017-2021 Five Year Financial Plan.
April 2017	BC Assessment Authority provides the electronic copy of Revised Roll.
April 10, 2017	Adoption of 2017 Five Year Financial Plan Bylaw (or first, second and third readings if not already completed)
April 24, 2017	The Director of Finance presents revised roll and first, second and third reading of the 2017 Property Tax Rate Bylaw (and Adoption of 2017 Five Year Financial Plan Bylaw, if not already completed)
May 8, 2017	Council adopts the 2017 Property Tax Rate Bylaw.
Before May 15, 2017	Legislative requirement for approval of the 2017 Five Year Financial Plan Bylaw and 2017 Property Tax Rate Bylaw.