December 15, 2020 Special Budget Committee Meeting

Agenda

1. CALL TO ORDER

2. APPROVAL OF THE MINUTES – December 1, 2020

3. PUBLIC PARTICIPATION

4. Fiscal Sustainability Strategy [PDF]
     - Staff Presentation
Motion:
That Budget Committee direct the Chief Administrative Officer to:
1. Develop, “Strategic Initiative" Reserves, as part of the 2021/22 budget process, for projects that are tied to an approved Council strategy and are significant enough to lead to a discernable increase in the tax rate or special funding that is outside the normal budget process. This should include any required
changes to debt and reserve policies and should be eligible to be funded through dedicated tax levies.
2. Starting with the 2021/22 budget and replacing the two-year detailed budget, develop a long-term Financial Plan, focused on sustainability, that includes a one-year Budget, a three-year outlook and a long-term plan based on Council’s Strategic Vision that supports the operating, capital and reserve
budgets and allows the Municipality to meet its long-term goals.
3. For the 2022/23 budget, provide a Tax and Fee Revenue Strategy to Budget Committee that will establish guiding principles for user fees and property taxes.

5. ADJOURNMENT