Connie MacDonald, Chief Communications & Strategy Officer and Craig Dyer, Commissioner, Corporate Service/Chief Financial Officer, delivered a presentation on the 2024 Plan and Budget Process and Principles. The objective of the presentation was to provide a preliminary overview of impacts and projections for 2024, to seek approval of the proposed timetable for the development of the 2024 plan and budget, and to seek guidance on the 2024 plan and budget principles.
In response to a question from the Committee, C. Dyer addressed the driving factors behind this budget review. Three key elements were identified: the prolonged period of elevated inflation, the costs associated with capital projects, and uncertainties surrounding funding from the Province. It was emphasized that there have not been substantial decreases in the cost of maintaining current service levels, and given the rapid growth of the population in the Region, there is a cost of growth that requires service expansion in order to meet the expectations and the needs of the community.
Further comments were made regarding the budget meeting dates and deadlines for notices of motions from Councillors.