The Municipality of Grey Highlands is ready for 2024 budget season.
At a recent meeting, Grey Highlands council approved a staff report that sets the municipality’s 2024 budget timeline and guidelines.
In the report, Anna McCarthy, the municipality's treasurer and director of finance, said a draft 2024 budget will come forward for council’s consideration at a committee of the whole meeting in November 2023.
After the draft budget is presented to council, the municipality will embark on a budget consultation with local residents and ratepayers. The consultation will include: a survey, social media engagement and newspaper and website updates.
Council will also meet in committee of the whole on the budget three times in December (dates will be determined).
Following the committee of the whole deliberations, a town hall/budget public meeting will be held for members of the community to comment on the draft budget. Council will then hold a special budget meeting, which will lead to the formal budget bylaw coming to council for approval.
Council also approved a number of 2024 budget guidelines.
Based on those approvals, the 2024 draft budget will be formulated based on existing service levels, which have been established through previous budgets and council decisions.
All proposed new services or assets will be presented separately to council for consideration and will not be part of the core budget. A business case for each request will be presented during the budget proceedings.
All requests for replacement, renewal or upgrade of capital assets will be part of the asset management plan and a business case for the request will be presented to council for consideration.
The draft budget will include best estimates for inflation and will include options to mitigate the impacts of inflation on the budget.
All recommended transfers to and from reserves will be included in the draft budget for council to consider.
