Budget and Financial Plan

Overview and context

This draft budget is presented in a time of ongoing uncertainty in the financial environment. Lingering inflation and high interest rates are both factors contributing to this uncertainty. These factors impact the ongoing business of the Township resulting in a fiscally challenging environment which is expected to persist further into the five-year plan.

This draft financial plan as presented provides for the continuation of services as well as enhancements to services which have been deemed to be a priority by Council. Some of those priorities are improved public safety, faster application processing for permits and planning for future amenities within the rapidly growing Community.

To provide additional flexibility in a year of continuing uncertainty, the capital budget, similar to last year, has been adapted to provide more ability for Council to adjust the plan as the year progresses and priorities evolve or financial information changes. The previously approved and commenced projects are moving forward as planned. Those projects requiring new funding and all new projects will be evaluated by Council to ensure continued alignment with current priorities. The objective is to sustain existing infrastructure, ensure health and safety, and plan for future new infrastructure to support a fast-growing community.

Budget sessions have been posted on the website at tol.ca after each presentation and feedback will continue to be requested until end of day January 7, 2024.

Universal services budget 

Universal Services includes Parks, Transportation Utility, Stormwater Utility, and General (which includes Fire, Police, Recreation & Culture, Facilities, and General Government).

The Draft 2024 Budget reflects an overall property tax increase of 7.01% or $167.96 for the average residential home with a value of $1,485,086. In establishing this budget and the resultant tax rate, all costs and sources of revenue were carefully reviewed.

Highlights – universal budget

• Salary, Wages and Benefits: The increase in salary and wages reflects trends in the labour market including union wage settlements and other issues with respect to recruitment and retention issues.  These are regional trends across all sectors.
• Firefighters: This increase includes the costs for the annualization of 11 firefighters added in 2023.
• RCMP: This includes both the annual increase for the current contracted officers as well as the addition of two new officers in July of 2024. The increase in the current year is impacted by increased vehicle costs and member overtime. 
• Bylaw Enforcement Officers: Three officers and their required equipment has been added to the budget starting July 1,2024.
• Additional Staffing: This includes staffing to improve service levels in the areas of Permits, Licenses, and Inspections as well as Community Planning to improve application processing.
• Operating efficiencies and cost cutting: A review of department budgets including reduction of some expenses and restructuring was done.
• Return of Recreation revenue: After several years of COVID related impacts on the Recreation revenue, in the 2024 Budget, the Recreation revenue has been brought back to pre-COVID levels.

The household impact of the proposed increase for 2024 for the average residential home with a value of $1,485,086:

The tables below itemize the changes to the budget and the resultant annual property tax increase for a representative household:

Non-Discretionary Base Budget as Revised December 18:

Discretionary Base Budget as Revised December 18:

Draft Property Tax Increase as of December 18:

Consistent with prior years, the costs to operate the Township’s libraries are being presented separately and include increases which are part of our service contract with Fraser Valley Regional Library as well as costs to operate the facilities.

The household impact of the proposed increase for 2024 for the average residential home with a value of $1,485,086:

Highlights - user pay utilities

The most significant increase in the User Pay Utilities costs is the increase in the regional cost budget items. Metro Vancouver increased their water rates by 7.6%. In the sewer utility the increase in regional purchases is a result of a 19.7% rate increase from Metro Vancouver. In addition, the transfers to reserves in Water and Sewer were increased for future new infrastructure and replacement of current infrastructure. Due to significant increases in the collection and disposal costs, Solid Waste rates have also increased.

The household impact of the proposed increase for 2024 for the average residential home with a value of $1,485,086:

Funding for the capital program comes from sources such as reserves and surplus, development cost charges receipts, senior government grants, local area service funds and from debt financing. Contribution to capital remains a funding source in the Utility capital budgets.

The previously approved and commenced projects are moving forward as planned.  The remaining projects will be funded through funding envelopes provided in the budget bylaw. The bylaw considers that funds will be received during the year.  Projects will only be approved if sufficient funds are available. Reports will be brought to Council for consideration and approved on the individual merits of the projects and alignment with Council priorities.

• The budget 2024 feedback survey is now closed. Thank you to all those who provided feedback.
• Email to budget@tol.ca.
• Call 604-533-6022.