- Safety considerations - Sidewalks, crosswalks and traffic calming as examples
- Replacement cost of older infrastructure
- Age and condition of existing City assets
- Risk assessment
- Coordination of other capital projects
- Future needs of the community
- Utility revenues
- Recreation fees - admission, rentals and classes
- Building permits
- Rental and lease fees
- Tree permits
- Telecommunication agreements
- External grants
- Police - recoverable services, traffic fines, and security checks
What is a Financial Plan?
A Financial Plan is the City budget. This budget is divided into two types of expenses:
1. Operating budget - City services
2. Capital budget - City infrastructure
What is an operating budget?
Operating budget is the annual budget that funds services and programs for residents and businesses. This includes police, fire and emergency services, community planning, bylaw enforcement, and operations of our many city facilities such as our recreation centres.
The operating budget is determined based on what it will cost to continue the existing city services and programs at service levels set by Council.
What is a capital budget?
The capital budget is used to maintain, improve and build new infrastructure in the City. These include recreational and community centres, parks, firehalls and roads. Other factors that are considered when the City develops a capital budget and plan are:
What are the City's revenue sources?
As in the majority of cities in British Columbia, taxation is our largest source of revenue, however, we do generate revenues from the following sources: