2019 Budget Review Timelines in Election Year

Posted on Wednesday July 18, 2018
NEWS RELEASE
July 18, 2018
FOR IMMEDIATE RELEASE
 
2019 Budget Review Timelines in Election Year 
Provides More Time for New Council to Understand Numbers 
 
Gravenhurst, On – Each year, Town staff brings forward a schedule for budget review and approval by Council. Normally, the Capital Budget is approved in December prior to the budget year, and the Operating Budget is approved in March of the budget year. 
 
With the municipal elections in October and a new Council term beginning in December, Council unanimously approved to adjust the timeline for the next budget cycle.
 
The recommendation approved last night will move the approval for the 2019 Capital Budget and Multi-Year Plan until March 2019 in order to provide a little more time for a new Council to absorb and consider decisions affecting the community. The 2019 Operating Budget will also be delayed until April 2019.
 
Budgets provide direction to staff on capital priorities and approve operational and strategic initiatives for the year planned by Town Administration. A new Council may sometimes require a little more time to understand how municipal budgeting works, the policy implications inherent in the budget process and the mandate it provides to Administration for the upcoming year. 
 
The 2019 Capital Budget and Multi-Year Plan will be tabled at Council on Tuesday February 19, 2019 and the 2019 Operating Budget will be tabled at Council on Tuesday March 19, 2019. 
 
Changes to the budget have no impact on the property tax billing cycle.
 
The public can expect to see further details and advertisements about the 2019 budget following the municipal elections in October.
 
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Attached: Schedule
 
For further information, please contact:
 
Val Sequeira
Director of Corporate Services and Chief Financial Officer
T. 705-687-3412 ext.252