Council granted the final reading and adoption of the Five-Year Operating and Capital Financial Plans and the Tax Rates Bylaw. The Community Charter requires municipalities to adopt a five-year financial plan by bylaw. The financial plan must set out the proposed expenditures, the proposed funding sources, and the proposed transfers to or between funds.
The financial plan represents the decisions concerning revenues, expenses, debt and transfers that were made by Council during the budget meetings in January. The bylaw represents a tax levy increase of 6.21 per cent.