Let's Talk Financial Plan 2024-2028

March 14, 2024

NEWS RELEASE

Each year, the City of Parksville prepares a five-year financial plan to meet the needs of our community today and into the future. Guided by Council priorities, the City’s annual budget is part of the five-year financial plan which sets the priority services, programs and initiatives for the next five years and how the City will pay for them. Beginning in November, the City held three Committee of the Whole meetings and two special Council meetings to consider input from residents, stakeholder groups and staff.

The 2024-2028 financial plan details the City’s operating costs, capital plan, funding sources, and tax and utility rates for the five-year period. The City’s plan aims to balance the pressures of a growing community with ongoing maintenance, expected service levels and infrastructure improvements and where possible, reduce the burden on residents.

For the average home value in Parksville, the provisional budget for 2024 includes an increase of 6.6% (estimated to be $171 for an average priced home) in municipal taxes, 5% ($15) in water fees and 3% ($6) in sanitary sewer fees. Highlights from the 2024-2028 financial plan include:

Increased service levels starting in 2024:

• Fire department - one new career fire rescue service technician
• Policing - one new RCMP member
• Downtown/parks - new special events coordinator position

2024-2028 investments in capital assets and infrastructure renewal:

• $1.5 million asphalt patching, overlays, crack sealing in 2024
• $400,000 salt shed replacement • $100,000 Shelly Road Centre playground
• $3.675 million per year roads and drainage infrastructure renewal
• $150,000 replacement of critical emergency communications infrastructure
• $2 million Parksville Pathway Project from Parksville Community Park to Englishman River estuary
• $500,000 utilities instrumentation and controls renewal
• $825,000 per year water and sanitary sewer infrastructure renewal

Investments in reserves for future expenditures: Establishment of protective services reserve for policing and fire rescue services’ future capital and operating expenditures, starting with an annual incremental contribution of 0.2% of property tax revenues and a one-time transfer of $1.5 million from unrestricted surplus, totalling $2.01 million over five years.

• Significant upcoming protective services expenditures include renovation to the fire hall, ongoing replacement of fire apparatus and increased staffing and operating costs tied to growing population (e.g. the City’s incremental share of policing costs increases from 70% to 90% when the population exceeds 15,000).

Continuation of the annual incremental increase of 0.5% of property taxes contributed to the capital reserve for infrastructure renewal, totalling $2.466 million over five years. Reserves support financial sustainability goals with respect to critical infrastructure investment and renewal.

Other strategic priority projects included in the five-year plan:

• $750,000 drinking water master plan
• $300,000 downtown lighting project to enhance place making and safety
• City-hosted celebrations and events in Memorial Plaza and Parksville Community Park
• Requirements of new provincial legislation related to housing plan/OCP amendments, short-term rental regulations and the Emergency and Disaster Management Act
• Completion of master plans for water, sanitary sewer, storm drainage and transportation

At the meeting held on March 4, Council approved the 2024-2028 provisional financial plan bylaw. Both the five-year financial plan bylaw and property tax rates bylaw must be adopted by May 15 of each year. The next steps at upcoming meetings are outlined here:

April 8 - Committee of the Whole meeting to revisit the provisional 2024-2028 financial plan and provide updated and new information and confirm 2024 property tax and utilities’ rates

April 29 - Special Council meeting for consideration of amended financial plan bylaw, tax rates bylaw and water and sewer rates bylaws.

May 6 - Adoption of bylaws considered at the April 29 Special Council meeting

Parksville residents and taxpayers are encouraged to provide input and feedback on the financial plan by attending meetings, reviewing information on Let’s Talk Parksville and providing comments by email to Council@parksville.ca or on Let's Talk Parksville.

For more information:
Deb Tardiff, Manager of Communications
communications@parksville.ca; 250 95-3073

December 13, 2024

NEWS RELEASE

The City’s 2024-2028 financial plan process is now well underway with meetings on November 27 and December 11, open to public comment. A series of meetings have now been scheduled for January to April 2024 with opportunities for public input at Committee of the Whole and Special Council meetings. To continue the discussion on the 2024-2028 financial plan, open meetings are scheduled as follows.

January
January 15
Regular Council Meeting (1 pm) - Water and Sewer Funds, operating and capital

January 24
Committee of the Whole (1-4 pm) - General Fund, operating and capital

January 29
Special Council Meeting (9 am-noon) - Motions from previous financial plan meetings

February
February 12
Special Council Meeting (1-4 pm) - Preliminary property tax and utility rates

February 21
Regular Council Meeting (1 pm) - Three readings 2024-2028 Provisional Financial Plan Bylaw

March
March 4
Regular Council Meeting (1 pm) - Adoption of 2024-2028 Provisional Financial Plan Bylaw

April
April 8
Committee of the Whole (1-4 pm) - New information, carry forwards, final property tax rates

April 22
Special Council Meeting (1-4 pm) - Three readings 2024-2028 Amended Financial Plan 2024 property tax rates

The financial plan outlines how resources will be allocated to achieve Council’s identified strategic goals and enable delivery of services to residents for the next five years in a fiscally responsible manner. Public input is encouraged as an important part of our financial planning process. The financial plan sets out the services, strategic initiatives, and capital projects for the next five years and identifies how the City will pay for them. We endeavour to maintain quality programs and services for our residents and keep property taxes and utility fees affordable.

Here are the ways residents may engage in the financial planning process:

• Attend meetings in person. Meetings are held in the Forum, 100 Jensen Avenue East.
• Submit comments by email to council@parksville.ca. Residents wishing comments to be considered by Council prior to the meetings, should be received by 4 pm on the working day before the meeting.
• Meetings may be viewed live and archived through webstreaming from the City’s website.
• Comments, questions, and ideas may be posted to the City’s online engagement site, Let’s Talk Parksville.
• All comments about the financial plan received by the City will form part of the public record.

If you wish to familiarize yourself with the City’s financial planning process, previous years’ plans and presentations may be viewed on Let’s Talk Parksville and on the City’s website.

For more information:
Deb Tardiff, Manager of Communications
communications@parksville.ca; 250 954-3073

October 25, 2023

LINK TO PDF

The City of Parksville has begun the process to create its 2024-2028 financial plan, a five-year plan which guides how the City will provide services and infrastructure to our residents. The public is welcome to attend meetings on November 27 and December 11 when Council will discuss the provisional 2024-2028 financial plan.

The financial plan outlines how resources will be allocated to achieve Council’s identified strategic goals and enable City departments to deliver services to residents for the next five years in a fiscally responsible manner. Public input is an important part of the City’s financial planning process and helps to inform the plan and establish priorities. The City’s financial plan sets out the services, strategic initiatives, and capital projects for the next five years and identifies how the City of Parksville will pay for them. The City strives to maintain quality programs and services for our residents and keep property taxes and utility fees affordable for businesses and homeowners.

The open Council meetings (Committees of the Whole) to discuss the provisional 2024-2028 financial plan are scheduled as follows. Recommendations from the Committee of the Whole will be considered by Council at subsequent regular Council meetings.

Monday, November 27
10 am to noon and 2 to 4 pm

Monday, December 11
10 am to noon and 2 to 4 pm

It is expected the provisional financial plan bylaw will be adopted by Council in January 2024. It will be reconsidered by Council in April 2024 after the BC Assessment Roll is received to set the final property tax rates and Council may choose to amend the financial plan if needed, after receiving updated information. Water and sewer fees bylaws will also be considered during this time.

Here are ways residents may engage in the financial planning process:

• Submit comments by email to council@parksville.ca.
• Residents wishing comments to be considered by Council prior to the meetings, should be received by 4 pm on the working day before the meeting (November 24 and December 8).
• Meetings may be viewed live and archived through webstreaming from the City’s website.
• Comments, questions, and ideas may be posted to the City’s online engagement site, Let’s Talk Parksville.
• All comments about the financial plan received by the City will form part of the public record.

If you wish to familiarize yourself with the City’s financial planning process, previous years’ plans and presentations may be viewed on Let’s Talk Parksville and on the City’s website.