Schedule for Budget and Financial Plan Deliberations
Council has authorized the following schedule of meetings to review the 2020 Budget and 2020 - 2024 Financial Plan:
- November 4th – Preliminary Operating Budget
- November 18th - Water & Sewer Utility Introduction
- November 25th (Special Meeting) - Finalize Water & Sewer, introduction Capital budgets
- December 2nd – Continuation of general operation, introduction of water and sewer rate bylaws, introduction of general capital projects
- December 16th – adoption of water and sewer rate bylaws, early budget approval of capital projects
Financial Plan Documents
During the Budget and Financial Plan Process, Council reviews a number of documents and presentations. They will be available here as they are prepared and published. We will also post the final Financial Plan and related bylaws when approved by Council.
Financial Plan Process
The Town of Ladysmith updates its five-year Financial Plan each year, as required by the BC Community Charter. Part of the Financial Plan is the detailed budget for the current year. The Town's Fiscal Year is January 1 to December 31.
Council reviews the budget at a number of meetings early in the year, before adopting the Financial Plan bylaws by May 15. Citizens are invited to provide input into the budget by attending Council meetings at which the budet is discussed, or by writing to Council at any time.
Each municipality in British Columbia must prepare a five-year financial plan, and update it every year. The Financial Plan must be adopted by Council in the form of a Bylaw on or before May 15.