The operating budget provides for the day-to-day expenses of the Township for items such as salaries and materials. The capital budget is a multi-year financial plan, for the construction or acquisition of capital works. You can view the current Corporate Budget. The budget process begins in July of the previous budget year, with Council reviewing priorities.
Department Managers, in co-ordination with the Treasurer and Chief Administrative Officer, complete fee reviews, and draft operation and capital budgets. The budget centers on the Township Vision Statement
All members of Township Council form the Budget Advisory Committee with meetings starting in January and normally finishing in April.
- The Township Budget begins with a base budget which is a continuation of the approved budget from the previous year. This base budget represents a clear snapshot of the current situation and includes levels of service and programs approved by Council.
- The base budget includes adjustments for Consumer Price Index and changes for volatile commodity price shifts such as fuel.
- The base budget is essentially what is required to maintain operations and services at the same level as the previous year into the coming year.
Service Changes or One Time Requests
- Service Change Requests are budget requests from Department Managers or the Budget Advisory Committee for specific items that will change the current service menu offered by Council. The request may stem from new initiatives, new Provincial legislative requirements or options for changes in levels of service.
- One-Time Requests are budget requests from Department Managers or the Budget Advisory Committee for items that do not occur on an annual basis. These items are ear-marked as one-time requests to tag spikes in the budget from the previous year. One-time requests do not carry forward into the base budget for the following year.
The Township capital budget provides for the planning of future financial resources required to finance capital projects and identifies the financial resources to be allocated from the operating budget to operate and maintain capital assets.
The capital budget is prepared at the same time as the operating budget and given final approval at the same time. This is to ensure that any contributions from the operating budget to the capital budget are coordinated and understood and that the effect on the ratepayer is seen. In addition, a capital asset may be slated for completion in mid-year and require an operating budget provision to pay for utility costs, staffing, and other operating costs.
There may be times where projects need to be tendered earlier than the final approval due to the construction season and type of asset. In these instances, the capital project must be presented for approval to Council for approval prior to the formal budget approval. The capital project must, however, still be included in the current year capital budget.