Revised Report to Council for 2017 2021 Financial Plan Bylaw
Report to Council DATE:
May 2, 2017
T O:
Mayor and Councillors
FROM:
Budget and Infrastructure Committee
SUBJECT:
2017-2021 FINANCIAL PLAN
EXECUTIVE SUMMARY: The financial plan, which includes the current year’s budget and taxes, sets out the planned services and initiatives for the next five years and the corresponding funding for those services. The draft financial plan contains a number of items to address Council’s priorities of infrastructure, the community recreation complex, and community livability. These items result in a 4.23 per cent overall increase for the average home (assessed at $682,859), made up of increases to property tax, utility levies, and a new $25 parcel tax. Public consultation for the draft budget was from March 22 to April 11 with 68% of the 640 respondents feeling they receive good value for their tax dollars, but citing road conditions, sidewalks and crosswalks as key areas for improvement. Public consultation results were presented to the Budget and Infrastructure Committee (BIN) at its May 1st meeting. Based on feedback from the public, BIN added $88,000 in one-time funds to the road maintenance budget and $500,000 in capital funds for pedestrian safety projects to the draft budget. The draft budget has been submitted to Council for first three readings. RECOMMENDATION: That the attached 2017-2021 Financial Plan Bylaw, 2017, No. 4017 be given first three readings. BACKGROUND: The financial plan, which includes the current year’s budget and taxes, sets out the planned services and initiatives for the next five years and how the City will pay for them. Direction for the 2017/2018 budget was provided by City Council’s three priorities:
Infrastructure: Maximizing the life of infrastructure assets and saving for their replacement
Community Recreation Complex: Building a vibrant new hub in downtown Port Coquitlam with new and enhanced amenities
May 02, 2017 2017-2021 Financial Plan
Community livability: Projects including updating the Official Community Plan and Environmental Strategic Plan, implementing specific elements of the Cultural Plan and Master Transportation Plan, supporting public safety, and strengthening relations with Kwikwetlem First Nation.
Departments presented their business plans, which provide the foundation for each year’s budget, on December 5th and 6th, 2016. Budget deliberations were held in a series of Budget and Infrastructure Committee meetings from Dec 13, 2016 to March 7, 2017 resulting in a draft budget being provided for public consultation on March 22, 2017. Public consultation included mailing budget details to all homes as well as providing copies online and in print. Based on feedback from the 640 people who participated, the majority (68%) of residents feel they receive value for their tax dollars and are most satisfied with the city’s parks and trails, fire, policing and waste services. Infrastructure – primarily, the condition of roads, sidewalks and crosswalks – continues to be a key concern for residents. BIN reviewed the public input at its May 1st meeting and added $500,000 to the 2018 capital budget to address public concerns about pedestrian safety as well as $88,000 to the 2017 road maintenance budget to address road conditions. BIN also made two additional adjustments to the draft budget based on follow-up information; these changes include:
Removing Lincoln Avenue rehabilitation from the 2017-2018 capital plan due to potential impacts of the future Lincoln Avenue connector. However, to address concerns about pedestrian safety, BIN approved $200,000 for a pedestrian walkway from Coast Meridian to Shaughnessy.
Removing Prairie Avenue from the 2017-2018 capital plan so that further discussion could be held on the desired scope of work for this project.
As in previous years, the 2017/2018 budget adds the equivalent of one per cent of the prior year’s taxes (2017 - $594,700; 2018 – 621,300) and one per cent of the prior year’s water and sewer rates (2017 $187,700; 2018 - $194,600) for the replacement of infrastructure. The 2017/2018 budget also includes approximately $29 million in capital work related to neighbourhood rehabilitation. The draft budget includes a 4.23 per cent overall increase for the average home (assessed at $682,859) and is made up of increases to property tax, utility levies, and a new $25 parcel tax. The actual amount each property will pay depends on the type of property and whether the property’s assessed value increased more or less than the average. More than two-thirds of the tax/levy increase will pay for: Funding for three officers for our RCMP Uniformed Crime Reduction Unit that increases police visibility and provides peak period coverage at crime hotspots Seven new firefighters to keep up with increasing call volume, phased over the next three years Funding for a new Community Recreation Complex that will replace aging recreational facilities in the downtown and provide community gathering spaces Replacement of aging infrastructure such as facilities and roads
May 02, 2017 2017-2021 Financial Plan Other budget highlights include: Development of an infrastructure management plan Exploring technological innovation in partnership with TELUS A new financial analyst Enhanced supervisory skills training for staff Engineering studies to inspect and assess infrastructure Support for the PoCo Sports Alliance
CONCLUSION: Having a financial plan provides city staff with clear direction and the authority to pay for services for Port Coquitlam citizens, and ensures city staff are accountable to the citizens. The 2017-2021 Financial Plan Bylaw, 2017, No.3017 has an overall increase of approximately 4.23% or $113.91 per average home and is recommended for first three readings.
_______________________________ On behalf of the Budget and Infrastructure Committee
Attachment: 2017 to 2021 Financial Plan Bylaw, 2017, No. 4017
May 2, 2017
T O:
Mayor and Councillors
FROM:
Budget and Infrastructure Committee
SUBJECT:
2017-2021 FINANCIAL PLAN
EXECUTIVE SUMMARY: The financial plan, which includes the current year’s budget and taxes, sets out the planned services and initiatives for the next five years and the corresponding funding for those services. The draft financial plan contains a number of items to address Council’s priorities of infrastructure, the community recreation complex, and community livability. These items result in a 4.23 per cent overall increase for the average home (assessed at $682,859), made up of increases to property tax, utility levies, and a new $25 parcel tax. Public consultation for the draft budget was from March 22 to April 11 with 68% of the 640 respondents feeling they receive good value for their tax dollars, but citing road conditions, sidewalks and crosswalks as key areas for improvement. Public consultation results were presented to the Budget and Infrastructure Committee (BIN) at its May 1st meeting. Based on feedback from the public, BIN added $88,000 in one-time funds to the road maintenance budget and $500,000 in capital funds for pedestrian safety projects to the draft budget. The draft budget has been submitted to Council for first three readings. RECOMMENDATION: That the attached 2017-2021 Financial Plan Bylaw, 2017, No. 4017 be given first three readings. BACKGROUND: The financial plan, which includes the current year’s budget and taxes, sets out the planned services and initiatives for the next five years and how the City will pay for them. Direction for the 2017/2018 budget was provided by City Council’s three priorities:
Infrastructure: Maximizing the life of infrastructure assets and saving for their replacement
Community Recreation Complex: Building a vibrant new hub in downtown Port Coquitlam with new and enhanced amenities
May 02, 2017 2017-2021 Financial Plan
Community livability: Projects including updating the Official Community Plan and Environmental Strategic Plan, implementing specific elements of the Cultural Plan and Master Transportation Plan, supporting public safety, and strengthening relations with Kwikwetlem First Nation.
Departments presented their business plans, which provide the foundation for each year’s budget, on December 5th and 6th, 2016. Budget deliberations were held in a series of Budget and Infrastructure Committee meetings from Dec 13, 2016 to March 7, 2017 resulting in a draft budget being provided for public consultation on March 22, 2017. Public consultation included mailing budget details to all homes as well as providing copies online and in print. Based on feedback from the 640 people who participated, the majority (68%) of residents feel they receive value for their tax dollars and are most satisfied with the city’s parks and trails, fire, policing and waste services. Infrastructure – primarily, the condition of roads, sidewalks and crosswalks – continues to be a key concern for residents. BIN reviewed the public input at its May 1st meeting and added $500,000 to the 2018 capital budget to address public concerns about pedestrian safety as well as $88,000 to the 2017 road maintenance budget to address road conditions. BIN also made two additional adjustments to the draft budget based on follow-up information; these changes include:
Removing Lincoln Avenue rehabilitation from the 2017-2018 capital plan due to potential impacts of the future Lincoln Avenue connector. However, to address concerns about pedestrian safety, BIN approved $200,000 for a pedestrian walkway from Coast Meridian to Shaughnessy.
Removing Prairie Avenue from the 2017-2018 capital plan so that further discussion could be held on the desired scope of work for this project.
As in previous years, the 2017/2018 budget adds the equivalent of one per cent of the prior year’s taxes (2017 - $594,700; 2018 – 621,300) and one per cent of the prior year’s water and sewer rates (2017 $187,700; 2018 - $194,600) for the replacement of infrastructure. The 2017/2018 budget also includes approximately $29 million in capital work related to neighbourhood rehabilitation. The draft budget includes a 4.23 per cent overall increase for the average home (assessed at $682,859) and is made up of increases to property tax, utility levies, and a new $25 parcel tax. The actual amount each property will pay depends on the type of property and whether the property’s assessed value increased more or less than the average. More than two-thirds of the tax/levy increase will pay for: Funding for three officers for our RCMP Uniformed Crime Reduction Unit that increases police visibility and provides peak period coverage at crime hotspots Seven new firefighters to keep up with increasing call volume, phased over the next three years Funding for a new Community Recreation Complex that will replace aging recreational facilities in the downtown and provide community gathering spaces Replacement of aging infrastructure such as facilities and roads
May 02, 2017 2017-2021 Financial Plan Other budget highlights include: Development of an infrastructure management plan Exploring technological innovation in partnership with TELUS A new financial analyst Enhanced supervisory skills training for staff Engineering studies to inspect and assess infrastructure Support for the PoCo Sports Alliance
CONCLUSION: Having a financial plan provides city staff with clear direction and the authority to pay for services for Port Coquitlam citizens, and ensures city staff are accountable to the citizens. The 2017-2021 Financial Plan Bylaw, 2017, No.3017 has an overall increase of approximately 4.23% or $113.91 per average home and is recommended for first three readings.
_______________________________ On behalf of the Budget and Infrastructure Committee
Attachment: 2017 to 2021 Financial Plan Bylaw, 2017, No. 4017
