File #: 24-849    Version: 1 Name: CRD 2025 Financial Plan Provisional Approval
Type: Action Report Status: Carried
File created: 9/9/2024 In control: Committee of the Whole
On agenda: 10/30/2024 Final action: 10/30/2024
Title: Capital Regional District 2025 Financial Plan Provisional Approval
Attachments: 1. Staff Report: 2025 Financial Plan Provisional, 2. Presentation: 2025 Financial Plan, 3. Appendix A: Service Financial Plan Guidelines Report, 4. Appendix B: Operating Budget Overview, 5. Appendix C: Capital Budget Overview, 6. Appendix D: Preliminary Financial Plan Summary, 7. Appendix E: Major Capital Projects, 8. Appendix F: Financial Indicators, 9. Appendix G Part A: Budget Review, 10. Appendix G Part B: Budget Review, 11. Appendix G Part C: Budget Review, 12. Appendix H: January Approvals, 13. Appendix I: Service Budget Highlights, 14. Appendix J: IBCs 2025 Budget Impact, 15. Appendix K: Staff Establishment, 16. Appendix L: Operating and Capital Reserve Forecasts, 17. Appendix M: Service Listing Direct to Board, 18. Appendix N1.1: SR 2025 Prelim EA Budget Review, 19. Appendix N1.2: Budget Pkg EA Joint, 20. Appendix N1.3: Budget Pkg JDF, 21. Appendix N1.4: Budget Pkg SSI, 22. Appendix N1.5: Budget Pkg SGI, 23. Appendix N1.6: 2025 Jan Early Approval, 24. Appendix N2: Budget Pkg CALWMC, 25. Appendix N3: Budget Pkg ESC, 26. Appendix N4: Budget Pkg GC, 27. Appendix N5: Budget Pkg JDFWDC, 28. Appendix N6: Budget Pkg PRC, 29. Appendix N7: Budget Pkg RPC, 30. Appendix N8: Budget Pkg RWSC, 31. Appendix N9: Budget Pkg SPWC-SPWWC, 32. Appendix N10: Budget Pkg SEAPARC, 33. Appendix N11: Budget Pkg AC, 34. Appendix N12: Budget Pkg RMTSAC, 35. Appendix N13: Budget Pkg SSILCC, 36. Appendix O: Potential Adjusts Prov 2025 Fin Plan

Title

Capital Regional District 2025 Financial Plan Provisional Approval

 

Recommendation

[At the October 28, 2024 Electoral Areas Committee meeting, the Committee passed two amendments to the joint electoral areas 2025 Provisional Budget.

Part 1 of the Recommendation has been updated to reflect these amendments.]

The Committee of the Whole recommends to the Capital Regional District Board:

1.                     That the Capital Regional District 2025 Financial Plan be given provisional approval with specific direction on amendments;

a.                     That the transfer to operating reserve for election be moved from 2025 to 2026.

b.                     That we reduce the transfer from building inspection to equipment reserve from $40,000 to $30,000 in 2025.

(WA)

2.                     That the Board Directed and Board Endorsed Initiatives be approved and incorporated into the final budget, subject to successful service establishment where required;

(WA)

3.                     That the new initiatives and capital identified in Appendix H for January 1, 2025, implementation be approved for expenditure;

(WA)

4.                     That the 2025 Community Need Summaries be approved as presented; and

(WP - All)

5.                     That the Staff Establishment Chart as attached in Appendix K be approved.

(NWA)