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2008 Budget Discussions Jan 9 08


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Township of Langley 2008 Budget presentation

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2008 Budget Discussions Jan 9 08

  1. 1. Financial Plan Discussions Township of Langley January 9, 2008
  2. 2. Overview <ul><li>Budget Discussion Objective </li></ul><ul><li>Household Impact of Tax/Levy Increases </li></ul><ul><li>Tax Increases other Municipalities </li></ul><ul><li>General & Utility Budget Summary </li></ul><ul><ul><li>Revised handouts provided </li></ul></ul><ul><li>Recommendations </li></ul><ul><li>Next Steps </li></ul>
  3. 3. Budget Discussion Objective <ul><li>Opportunity for Council to discuss the 2008 Budget leading to a Council Priorities Committee recommendation on the General Property Tax rate increase and Utility Rate increase for 2008 and indication on the rate </li></ul><ul><li>Consideration of the 2008 Operating and Capital Budgets for the General and Utility Funds </li></ul>
  4. 4. 2008 General Taxes Impact on Township Property Assessed at $473,000 in 2008
  5. 5. 2008 General Taxes Increase Allocation Township Property Assessed at $473,000 in 2008
  6. 6. General Property Tax Increases Comparison to Other Municipalities
  7. 7. 2008 Utility Rates Impact on Township Household Receiving all Utility Services
  8. 8. Other Items <ul><li>Other Items to be included in the Budget </li></ul><ul><ul><li>Aldergrove Pool project initiation </li></ul></ul><ul><ul><li>Homeless Shelter project </li></ul></ul><ul><ul><li>Sewer capital project from Provincial Grant </li></ul></ul>
  9. 9. Recommendations <ul><li>That Council Priorities Committee consider the preparation of the Township’s Five Year Financial Plan based on the following: </li></ul><ul><ul><li>2008 General Property Tax Increase of 5.95% </li></ul></ul><ul><ul><li>2008 Utility Rate Increase of 5.95% </li></ul></ul><ul><ul><li>2009 to 2012 General Property Tax Increase and Utility Rate Increase of 5.95% </li></ul></ul><ul><li>That Council Priorities Committee endorse the establishment of a Transportation Utility for the Township </li></ul>
  10. 10. Next Steps <ul><li>Council Priorities minutes considered by Council on January 14, 2008 </li></ul><ul><li>Council pre-approves time-sensitive budget items January 14, 2008 </li></ul><ul><li>Public consultation on January 21, 2008 </li></ul><ul><ul><li>Budget Information and response forms outside Council Chambers </li></ul></ul><ul><ul><li>Staff available to answer questions from 1:00 pm to 7:00 pm </li></ul></ul>
  11. 11. Next Steps <ul><li>Council approves 2008 Budget and Five Year Financial Plan after considering public input on February 4, 2008 </li></ul><ul><li>Council gives first three readings to the 2008-2012 Five Year Financial Plan Bylaw in February 2008 </li></ul><ul><li>Council adopts the 2008–2012 Five Year Financial Plan in March 2008 </li></ul>