2018-2022 Financial Plan

FINANCIAL PLAN OVERVIEW

Financial Overview Report In November 2017 a Financial Overview Report was presented to Council as part of the annual business planning process. The purpose of the report was to provide Council with a high level financial overview based on financial performance to date, departmental business plans and recommended priorities for 2017 and beyond. The final outcome is a Financial Plan Bylaw which Council adopted on January 16, 2018. The complete report is included below.

Table of Contents OPENING REMARKS ..................................................................................................................................................... 33 INTRODUCTION ........................................................................................................................................................... 34 HOW HAVE WE BEEN DOING IN RELATION TO OUR BUDGET THIS YEAR? .................................................................... 35 PROPERTY TAX INCREASES........................................................................................................................................... 36 WHERE DOES THE MONEY COME FROM AND WHERE DOES IT GO?............................................................................. 38 CHANGES TO PREVIOUS OPERATING BUDGET ............................................................................................................. 42 INCREMENTAL ADJUSTMENTS ..................................................................................................................................... 43 WHAT WOULD A ZERO TAX INCREASE LOOK LIKE? ...................................................................................................... 46 EFFICIENCY & EFFECTIVENESS IMPROVEMENTS IMPLEMENTED IN RECENT YEARS ...................................................... 49 UTILITIES & RECYCLING................................................................................................................................................ 52 COMPOSITION OF PROPERTY ASSESSMENT BASE ........................................................................................................ 54 BUDGET SUMMARY ..................................................................................................................................................... 55 CAPITAL PROGRAM ..................................................................................................................................................... 56 IMPACT TO THE AVERAGE HOME................................................................................................................................. 65 HOW OUR TAXES COMPARE TO OTHER MUNICIPALITIES ............................................................................................ 66 FINANCIAL INDICATORS ............................................................................................................................................... 69 CONCLUSION ............................................................................................................................................................... 73 RECOMMENDATIONS FOR 2018-2022 FINANCIAL PLAN............................................................................................... 74 GENERAL INFORMATION ............................................................................................................................................. 74

The Financial Plan for the City of Maple Ridge outlines the services provided by the City and the financial implications thereof. This document provides an overview of the 2018 - 2022 Financial Plan. The City’s Financial Plan, more commonly known as the “Budget”, is the outcome of a robust Business Planning process that sees each department develop a business plan aligned with Council’s strategic direction. For the past number of years, a key part of that Business Planning process has involved departmental presentations to Council over a number of days prior to consideration of the Financial Plan.

Opening Remarks

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