The Comox Valley Regional District (CVRD) proposed Financial Plan and Capital Expenditure Program is developed by staff and presented to the CVRD Board for their consideration between January and March. All budget presentations are open to the public and are posted on the CVRD website. The Board is required to adopt the five-year Financial Plan as per Section 374 of the Local Government Act (RSBC 2015 c.1) by March 31.
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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 2022 - 2026 CVRD financial planning process is as follows:
- January 25 – March 15: Budget presentations commence and feedback welcomed.
- March 16: Feedback required to be submitted to CVRD by 4:30 pm.
- March 29: Annual Budget Bylaw presented to CVRD Board for first, second and third reading.
- March 31: The CVRD is legislatively required to have budgets approved. Annual budget bylaw
presented to CVRD Board for final adoption.
There are several ways to get involved:
- Tune-in to watch CVRD meetings live: comoxvalleyrd.ca/livestream or watch recorded sessions at comoxvalleyrd.ca/minutes.
- Submit comments, questions or feedback to comoxvalleyrd.ca/budgetinquiries or by calling Kevin Douville, Acting Chief Financial Officer 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: 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.