Financial Plan (Budget)
The City of Duncan is committed to sound financial management. Each year, as required by Provincial legislation, the City adopts a Five Year Financial Plan Bylaw,which serves as the budget.
The City’s financial plan includes all revenues and expenses in the general, water and sewer funds. This includes operating costs to maintain infrastructure and provide services to our citizens, as well as the costs associated with major capital projects.
Careful analysis is done to balance the level of services expected by the community with the ability to pay through reasonable taxation and user fees. In doing this, the City plans to:
- Ensure adequate funding for services,
- Continue to move toward a long term goal of infrastructure sustainability,
- Diversify revenues as much as possible,
- Manage expenses, contain costs, be efficient,
- Regularly assess service capacity and delivery,
- Provide for contingencies, manage risks and operate prudently,
- Maintain reserves for the future, and
- Use debt strategically.
Keeping taxes affordable and delivering quality services for residents and property owners is a priority for City Council. Like any business or household, the needs and wants of the City are often greater than what can be afforded at any one time. Choices must be made during the budget process each year.
The Financial Plan is reviewed in the fall of each year, an Open House is held to allow for public input. Citizens are invited to provide input into the budget by attending the Open House or Council meetings where the budget is being deliberated, or by writing to Council at any time at firstname.lastname@example.org. For meeting dates and times, please see the Council Meeting Calendar.