The District of Squamish 2025 to 2029 Five-Year Financial Plan discussions are now underway. Through October, Council is reviewing the details of the proposed budget and invites residents to weigh in on whether the five-year plan aligns with residents’ priorities. An improved online tool – Budget Book – is available for residents to explore the budget and browse through the proposed items. A variety of in-person events are planned for discussion opportunities, and residents can find resources and ask questions at letstalksquamish.ca/budget-2025.
“Squamish is a desirable, fast-growing community with diverse needs, and we are working to balance the challenges and opportunities that come along with that,” says District of Squamish Mayor Armand Hurford. “We are all impacted by the Financial Plan every day, and this process invites community members to let us know if our financial planning aligns with your values and priorities. We urge everyone to get involved, learn about the budget and help shape the future of our community.”
The District faces a number of challenges that add pressures to the Financial Plan throughout the coming five-year period. Many of these pressures are common to other communities in British Columbia and include such items as rising RCMP costs, increasing Fire Services costs, labour contract negotiations, and housing and affordable housing responsibilities resulting from provincial mandates.
Squamish is also seeing the impact from debt-servicing costs for new essential service facilities, ongoing attention to infrastructure upgrades and a long term capital program, as well as the cost of setting aside adequate reserves for future replacement of assets. This proactive and prudent approach to building reserves will support future Councils to ensure they are not saddled with end-of-life infrastructure without the means to replace them.
As a result, the total revenue requirement (Tax Levy) for existing taxpayers is projected to increase 9.6% or $250 for the average residential property in 2025. The tax impact is projected to be on average 10.5% annually for 2025 to 2029, once non-market change (the addition or removal of taxpayers) is factored in.
“The District has taken a thoughtful and measured approach to addressing these pressures and challenges by limiting service level changes, prioritizing projects that focus on life safety and risk, and maximizing funding opportunities,” says General Manager of Financial, Information Technology and Procurement Services, Heather Boxrud. “While understandably these are challenging numbers, they are not unique to our community as many growing BC communities are experiencing similar issues and resulting financial impacts.”
Ways to Get Involved:
Submit comments through LetsTalkSquamish.ca or email to budgetfeedback@squamish.ca.
Key Financial Plan Drivers:
The Five-Year Financial Plan is guided by four main principles:
These principles have been developed to ensure that taxes do not fluctuate greatly from year to year, revenues are sufficient to support community goals, everyone pays an equitable amount for the services they receive, services are delivered efficiently, and decisions are made to minimize risk and ensure future flexibility.
October 15, 2024
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