Financial planning for the 2025 to 2029 five-year financial plan is already being considered by qathet Regional District (qRD).
At the July 3 finance committee meeting, directors voted to recommend to the board that it approve an option that would see the first draft of the budget provided in December, with the second draft in January 2025, the final draft in February 2025 and adoption the same month.
Electoral Area E director and finance committee chair Andrew Fall said the next budget cycle is coming around the corner and he asked what the committee would like to do with the recommendation.
“There are a couple of options in the agenda package and I agree with the option presented to us,” said Fall. “As we’ve seen in the past, some meetings get to be long in dealing with the budget, so we can look at that when we get to it and see how we’re progressing. If we need to, we can have a fourth meeting. We can find ways to deal with that but this schedule is a good place to start the process.”
City of Powell River director George Doubt said he agreed that the proposed option was the best way to go.
“We could go shorter or longer, but this is a quicker way to do it and it’s more efficient for time,” added Doubt. “It puts more onus on the directors to be ready when we talk about draft one and draft two. I think about the final conclusions that are going to happen at the end.
“Instead of waiting until we get to a draft four, it’s up to the directors to make their decisions on what the values are earlier in the process. If we don’t make those decisions until later, that’s how we end up having a draft four. Let’s try to get option one and actually do it.”
Electoral Area D director Sandy McCormick said although it is not spelled out in the staff report, during the last budget cycle, directors actually ended up taking a month longer, so she’s glad to know there is flexibility built into the process, so if extra time is needed, it is available.”
qRD manager of financial services Linda Greenan said the option being recommended was the same process followed in the last five-year financial plan.
“There is flexibility if directors do want it,” said Greenan.
Directors unanimously carried a motion to recommend the board endorse a three-draft five-year financial plan, beginning with the first draft in December and having adoption at a February 2025 board meeting.
According to a staff report, the 2025 to 2029 financial planning process is aimed at budget transparency and will include, but not be limited to, a budget engagement process media release, a dedicated budget webpage, online, print and radio advertisements, and a Facebook campaign.
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