Annual Budget & 5-Year Financial Plan

Introduction

Mission updates its five-year Financial Plan annually to ensure its finances are managed responsibly and to reflect the priorities identified by Council and the community.  Council is currently considering the 2023 to 2027 Financial Plan.

The Plan includes specific funding requirements for 2023, and projections for 2024 – 2027.

At a high level the financial plan combines:

General Operating Budget

The day-to-day operational expenses, such as recreation, inspections and protective services.   Any proposed changes to this budget allow the City to continue to provide the same services, at the same levels.

General Capital Budget

For general municipal capital projects such as playground equipment and upgrades, road and bridge repairs, facility construction and improvements, and life-cycle equipment replacements.

Utility Budgets

The operating and capital budgets for water, sewer, drainage, and solid waste.  These expenses are funded through user-fees and levies.   Utility levies are included on your Property Tax Notice, while metered utilities are billed separately.

New Initiatives

These are new initiatives or service level changes based on Council’s strategic plan, Master Plans, and through ongoing works to improve operations and services to the community.