2022 Municipal Budget

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Each year the Town creates a budget (Five-Year Financial Plan) laying out how the Town will allocate it's limited resources to achieve Council's identified strategic goals in a fiscally responsible manner. The budget is reviewed and updated by staff and Council, and includes public review prior to adoption at public meetings on an annual basis.

The budget process involves balancing municipal income each year with planned expenditures related to service delivery and preparing detailed plans reflecting those budget forecasts. The budgeting process starts every Fall for the upcoming year and must be adopted by Council no later than May 15th of the budget year.

The public is encourage to attend Committee of the Whole / Council Meetings to keep informed of the decisions being made affecting the budget process. Please review the budget cycle and key dates to see the entire budget schedule. Sign up for updates and opportunities to have your input into the Town's 2022 Budget cycle.

Do you have any questions about the budget? No problem. Submit your question in the "Questions" tab below and someone will get back to you shortly.

Do you have any comments? Great! We'd love to hear what you have to say. Look for the "Comments" tab below.

Each year the Town creates a budget (Five-Year Financial Plan) laying out how the Town will allocate it's limited resources to achieve Council's identified strategic goals in a fiscally responsible manner. The budget is reviewed and updated by staff and Council, and includes public review prior to adoption at public meetings on an annual basis.

The budget process involves balancing municipal income each year with planned expenditures related to service delivery and preparing detailed plans reflecting those budget forecasts. The budgeting process starts every Fall for the upcoming year and must be adopted by Council no later than May 15th of the budget year.

The public is encourage to attend Committee of the Whole / Council Meetings to keep informed of the decisions being made affecting the budget process. Please review the budget cycle and key dates to see the entire budget schedule. Sign up for updates and opportunities to have your input into the Town's 2022 Budget cycle.

Do you have any questions about the budget? No problem. Submit your question in the "Questions" tab below and someone will get back to you shortly.

Do you have any comments? Great! We'd love to hear what you have to say. Look for the "Comments" tab below.

  • Budget Mail-out

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    All property owners in Creston received a budget newsletter in their mailboxes - mid January, 2022. Click HERE to view.

  • Council recommends 2022 Budget Guidelines

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    During the October 19, 2021 Committee of the Whole Meeting, Council recommended to Staff guidelines to develop the 2022 Operational Budget. The budget guidelines provide Staff principles on how the operational budget should be prepared based on service level expectations. The Guidelines reflect known obligations such as legislative or contractual increases, asset management, service levels, fees, utilities, new services, reserves, RCMP and grant-in-aid.

    The recommended 2022 Budget Guidelines:

    Guideline 1 - Inflation

    The published BC Consumer Price Index (CPI) increase was 3.5% over the previous year (2020) (as of August 31, 2021). All energy prices have increased, most input prices have increased over the past year.

    Guideline 2 – Non Market Change increase

    Non-Market Change (NMC) is the increase in the tax assessment base (e.g. new homes, businesses and improvements) which is new taxation. The estimated NMC by BC Assessment indicates about a 1.0% increase. This new taxation will be used to offset inflationary increases.

    Guideline 3 - Asset Management

    The 2021 - 2025 Five Year Financial Plan has $30,000 infrastructure replacement reserve taxation in 2022. This was established to build financial reserves for asset management (infrastructure replacement projects). The planned Road Replacement Program requires continued reserve contributions.

    Guideline 4 – Service Levels

    That the 2022 Budget be developed based on existing service levels, unless specific areas are identified by Council for review.

    Guideline 5 – User Fees

    That the 2022 budget be developed utilizing an increase in user fess that aligns with inflation and is comparative to other like sized communities.

    Guideline 6 – Utility Rates

    That 2022 utility rates in the existing Utility Rates Bylaw be used unless specific issues are identified which require adjustment. There are no known reasons for change at this time by Staff. Utility rate increases in the Bylaws are 2.6% for residential water and 5.0% for residential sewer. The rates increase include accommodation for utility asset management considerations. The solid waste fees for 2022 may need to be reduced given that the service was supposed to start this October instead of next spring.

    Guideline 7 – New Service Requests

    That all requests for funding of new ongoing program items for the 2022 Budget be separately presented for consideration by Council as “New Items” to be funded only through consideration of each request.

    Guideline 8 – Reserves and Surpluses

    The use of reserves and surpluses is an integral part of the budget planning process. Prudent use of reserves mitigates fluctuations in taxation and assists in stabilizing the uneven spend on project and capital.

    Guideline 9 – Balanced Budget

    The 2022 to 2026 Five year Financial Plan is balanced such that revenues, expenses and reserve flows are balanced to zero each year.

    Guideline 10 – RCMP Budget

    The RCMP has finalized a collective agreement with its service members. The settlement included a significant increase in wages which is not fully reflected in the current budget guidance provided by the RCMP. There will most likely be a required tax increase above inflation for policing but the information to quantify the amount is not yet available. The communication is expected by the end of October.

    Guideline 11 – Grants in Aid

    That Grant in Aid Funding be reviewed and discussed by Council before final approval.

  • Council reviews Levels of Service for 2022 Budget

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    On October 19, 2021, Council reviewed budget considerations and service levels. The overview provides Council the high level approach to revenue and expenses, sustainable service delivery and understanding of levels of service. The Levels of Service Review provided members of Council an overview of each level of service provided by the municipal departments along with the 2021 Budget. Members of Council are asked to consider if there is a need to change (increase or decrease) any particular level of service over the next couple of weeks as the operational budget for 2022 is prepared by Staff.

    Click on the presentation name to review:

    Budget Strategy Overview

    Levels of Service Review


Page last updated: 18 January 2022, 10:14