1. Learn about the Financial Plan

The Financial Plan outlines the District’s operating costs, capital plan, funding sources, tax rate and utility rate impacts over this period. It aims to balance the immense pressures of a rapidly growing community – from new facilities to upgraded infrastructure, as well as the strategic goals of Council.

The District is not immune to the cost increases from inflation and supply chain challenges experienced across the country, and this is one of the primary pressures of this Financial Plan. Other pressures include the cost of expanded transit, the costs of funding and servicing debt on multiple facilities replacements and upgrades, labour contract annualization, staff resources to meet increasing Capital Plan requirements and service demands and addressing deficiencies in previous asset management investment.

The Plan represents a thoughtful and measured approach to address the above pressures. The District has made tremendous efforts to offset inflationary pressures, delay or re-consider projects and expenses, maximize funding from other sources, delay debt issuance through cash flow management and temporary borrowing, and utilize tax stabilization opportunities.

The revenue required from property taxation in 2024 is projected to increase 8.9% or an average of $213 per residential unit. Similar increases can be expected annually for the remainder of the five-year plan.

Explore the Capital Plan, Special Operating Projects and Service Level Changes via the button/link below: