Budget Process

The budget process draws information from historical data and direction from a wide range of sources such as various studies and plans, as previously approved by Council, and require hundreds of staff hours to complete.

The budget is developed based on existing services levels, adjusted for growth, legislated requirements and inflationary factors.

The objective is to be fiscally responsible in managing the Town assets and operations, while continuing to provide service excellence and community engagement.

The 2024-2026 budget process began in April 2023 when staff drafted a budget timeline for Council to consider. This timetable outlines meetings, deadlines, and key milestones for Town departments to meet in order to draft the capital and operating budgets. At each milestone, senior management reviews budget requests, including staff hires.

April 2023

• Budget timetable approved by Council

June 2023

• Budget kick-off meeting
• Distribute operating budget guidelines for the preparation of departments’ submission

July 2023

• Departments submit their draft operating budget and business cases to the finance department
• Distribute capital budget guidelines for the preparation of department’s 10 year capital plan
• Capital budget intake begins

August 2023

• Operating budget and business case review by finance team, Treasurer, and CAO (3 reviews)
• Departments submit draft capital budget and business cases to finance department

September 2023

• Operating budget and business case review by Treasurer and CAO with departments (4^th review)
• Capital budget and business cases review by finance team, Treasurer, and CAO

October 2023

• Capital budget and business case review by Treasurer and CAO with departments (4^th review)
• Senior Leadership Team review of draft operating and capital budget

November 2023

• Draft budget book completed
• Budget tabled and presented to Council
• Council deliberations for operating and capital budgets and approval
• Water and wastewater budget/rates approval