Budget and Finances
The Municipality of the District of Chester operates under an
annual Budget Plan
that is closely tied to our Strategic Plan and Goals. The Budget is a fairly complex document with many different contributors.
- Property Valuation Services Corporation (PVSC) - After completing their assessments for the year, PVSC provides us with a "tax roll" that lists all of the property in the Municipality along with the assessment value (either market or capped). This information allows us to estimate tax revenue for the upcoming year by using the assessment value and applying the current year's tax rate.
- Council sets priorities for the upcoming year, which determines where the monetary focus will be. Every year, they re-evaluate their Strategic Goals and make sure the Municipality is on the right track. From there, Departments can determine where to allocate their resources. Council also sets the residential and commercial tax rates and approves the final budget documents. Projects cannot go ahead without budget approval unless given special permission. A new Plan is scheduled to be drafted next year.
- Municipal Staff calculates how much they need to deliver services, operate their department, and contribute to reserves for the coming year. They use the Operating Budget from the previous year as well as actuals from the Director of Finance. They also determine what resources are needed to carry out Council's Strategic Goals. They present their figures to the Director of Finance.
- After the Provincial Budget is passed, the Government will give all municipalities figures for "mandatory contributions". These are contributions that municipalities pay towards education, policing and corrections, libraries, assessment services, roads and housing.
- Fire/Village Commissions hold ratepayer meetings to discuss budget needs with the community. After their needs are determined, they are presented to the Municipality and they are added as an area rate to tax bills. The money collected is on behalf of these organizations and then given to them.
To view this year's budget documents in detail, please visit our document library.
Published: 25 June 2015
Created: 25 June 2015
Last Updated: 25 June 2015