The Comox Valley Regional District (CVRD) 2021 - 2025 proposed financial plan and capital expenditure program is developed by staff and presented to the CVRD board for their consideration between January and March of 2021. All budget presentations are open to the public and are posted on the CVRD website. The board is required to adopt the 2021-2025 five year financial plan as per Section 374 of the Local Government Act (RSBC 2015 c.1) by March 31st.
Good fiscal management and financial best practices are at the core of the CVRD financial planning process. Each year the regional district prepares an updated five-year financial plan that represents the operation of each service from one budget year to the next. The yearly budget process utilizes “zero- based” budgeting concepts, meaning that each service is reviewed and budgets created based on approved work plans and priorities. Both expenditure and revenue sources are evaluated to ensure the financial plan is current, sound and can achieve the priorities as outlined. Additionally, the long term requirements are reviewed to ensure sufficient reserves are maintained and are available to sustain appropriate service levels in the long term.
The timeline for the 2021 - 2025 CVRD financial planning process is as follows:
- January 25 – March 10: Budget presentations commence and feedback welcomed
- March 11: Feedback required to be submitted to CVRD by 4:30 pm.
- March 16: Annual Budget Bylaw presented to CVRD Board for 1st, 2nd and 3rd reading
- March 30: Annual Budget Bylaw presented to CVRD Board for final adoption
- March 31: CVRD legislatively required to have budgets approved
There are several ways to get involved:
- Tune-in to watch CVRD meetings live: www.comoxvalleyrd.ca/livestream or watch recorded sessions at www.comoxvalleyrd.ca/minutes
- Submit comments, questions or feedback to www.comoxvalleyrd.ca/budgetinquiries or by calling Kevin Douville, Manager of Financial Planning at 250-334-6078.
- Provide a presentation to the Board or one of its committees through a formal delegation
- Contact a member of CVRD board directly by visiting: www.comoxvalleyrd.ca/boardstructure
A board adopted financial planning policy guides the annual process by outlining the principles, content and schedule for the five year financial plan presentations to the board.