The City of Colwood is committed to sound financial management and is required by legislation to present a balanced budget every spring.
Like any business or household, the needs and wants within a municipality are often greater than what can be afforded at one time. Difficult choices must be made based on the priorities of the community and Council. The goal is to deliver a high level of service that strikes a balance between affordability for citizens and city-building initiatives that will improve quality of life while expanding our tax base.
The City's financial planning approach is based on four core principles:
- Fiscal responsibility - focused on the long term.
- Affordability and cost effectiveness - keeping property taxes and user fees affordable while continuing to provide valuable City services; keeping debt manageable for all generations.
- Sustainable infrastructure life cycle management - long term planning to ensure continuity of City services; considering full life cycle costs when making financial planning decisions.
- Capital investment optimization.
2019 Budget process - join the discussion at City meetings
Council will review and discuss the draft 2019 budget in public meetings. Colwood residents are encouraged to attend meetings to learn more and provide input. Feedback is also welcome by email to email@example.com.
|January 21, 2019||Regular Committee of the Whole||Grant in Aid Applications|
|February 4, 2019||Regular Committee of the Whole||Budget Deliberations (more detail to come)|
|February 6, 2019||Special Committee of the Whole||Budget Deliberations (more detail to come)|
|February 19, 2019||Regular Committee of the Whole||Budget Deliberations (more detail to come)|
|March 4, 2019||Regular Committee of the Whole||Budget Deliberations (more detail to come)|
|April 8, 2019||Regular Council Meeting||Financial Plan Bylaw Introduction|
|April 23, 2019||Regular Council Meeting||Financial Plan Bylaw Adoption, Tax Rate Bylaw Introduction|
|May 13, 2019||Regular Council Meeting||Tax Rate Bylaw Adoption|
Meeting dates are subject to change and additional meetings may be scheduled as necessary. Check the Meeting Calendar for information about all City meetings.
Property tax notices are prepared after the financial plan and tax rate bylaws are adopted by Council. Tax notices are issued near the end of May and tax payments are due on the first business day after July 1st.
Read more about Property Tax.
What is Colwood's overall direction for the future?
Over the past two years, Colwood residents have been 'Making Waves' to create a new plan for their community. The new Colwood Official Community Plan reflects input from more than 1400 direct interactions with residents and stakeholders. Read the draft now and learn more about the process at: www.colwood.ca/MakingWaves