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2017-2021 Adopted Financial Plan and Capital Expenditure Program

Good fiscal management and financial best practices are at the core of the financial planning process of the Comox Valley Regional District (CVRD). Every year, the CVRD prepares an updated five-year financial plan that represents the operation of each service from one budget year to the next. The budget process utilizes “zero-based” budgeting concepts, meaning that each service is reviewed, and budgets are 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 available to sustain appropriate service levels over the long term.

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. 

2017-2021 Adopted Financial Plan and Capital Expenditure Program

The Comox Valley Regional District’s 2017-2021 financial plan and capital expenditure program was presented to the CVRD Board of Directors for their consideration between January and March of 2017. All budget presentations were open to the public and are posted on the CVRD website (see below). The board is required to adopt the five-year financial plan by March 31 each year as per Section 374 of the Local Government Act (RSBC 2015 c. 1).