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.

2020 – 2024 Five Year Financial Plan

Over the past several months, the District of Sooke Council has reviewed each department’s services and budget impacts, engaged with the residents through an online survey, public input at meetings and an open house held in Council Chambers. On March 31, 2020, at a Special Council meeting the Five-Year Financial Plan Bylaw was adopted, the final plan was presented at the March 9, 2020, Regular Council meeting.

At the May 11, 2020 Special Council meeting, an Amended 2020 – 2024 Five Year Financial Plan and accompanying bylaw, were adopted.

All information regarding the 2020 budget and the 2020 – 2024 Five Year Financial Plan is provided below.

2020 Budget Process
Date & Time	Meeting/ Event	Additional Information	Documents
Monday, November 4, 2019 @ 1:00 pm	Special Council Meeting	Service Level Review	Council Presentation Agenda Draft 2020-2024 Financial Plan Minutes
Thursday, December 5, 2019 @ 1:00 pm	Special Council Meeting	Draft Financial Plan, Budget Presentations and 1st & 2nd reading of Financial Plan Bylaw	Agenda Presentation Minutes
Wednesday, January 22, 2020 at 2:00 pm - 8:00 pm	Open House in Council Chambers 2225 Otter Point Road	Public Discussion on Financial Plan & Access to Online Survey	Survey Closed Results included in February 3, 2020 Committee of the Whole agenda.
Monday, February 3, 2020 at 1:00 pm	Committee of the Whole Meeting	Budget Discussion	Agenda Minutes
Monday, February 10, 2020 at 7:00 p.m.	Regular Council Meeting	Two Reports - on information from the February 3 Committee of the Whole meeting	Agenda Minutes
Tuesday, February 18, 2020 at 7:00 pm	Committee of the Whole Meeting	Further discussion on the budget items.	Agenda Minutes
Monday, March 9, 2020 at 7:00 pm	Regular Council Meeting	3rd Reading of the Bylaw	Agenda
Monday, March 23, 2020 at 7:00 pm	Regular Council Meeting-CANCELLED	Formal Public Input & Adoption of Bylaw	Meeting will be rescheduled - please check back for date
Tuesday, March 31, 2020	Special Council Meeting	Adoption of Bylaw	Agenda
Monday, May 11, 2020	Regular Council Meeting	Adoption of Amended Bylaw	Agenda Amended Five Year Financial Plan 2020 to 2024
Note: This information will be updated frequently. Please check back often.

PAST BUDGET for 2019
February 27, 2019 @ 2:00 p.m.	Special (Budget) Council Meeting – Department Presentations	Draft Financial Plan Bylaw_Feb-27-2019 2019 Budget Presentations
March 4, 2019 @ 6:00 p.m.	Special (Budget) Council Meeting – Department Presentations	Draft Financial Plan Bylaw_Mar-4-2019 2019 Budget Presentations-Day 2
CANCELLED ~~March 5, 2019 @ 6:00 p.m.~~	Special (Budget) Council Meeting – Department Presentations (if required).	no additional details.
March 11, 2019 @ 7:00 p.m.	Regular Council Meeting	1st & 2nd Reading of Bylaw Draft 2019 Budget
March 20, 2019 @ 3:00 p.m.	Open House (3:00 – 7:00 p.m.) Council Chambers	Public Consultation (Informal public input)
March 25, 2019 @ 7:00 p.m.	Regular Council Meeting	Formal Public Input & 3rd Reading of Bylaw DRAFT Financial Plan March 25, 2019
April 8, 2019 @ 7:00 p.m.	Regular Council Meeting	Final Adoption of Bylaw