CORPORATION OF THE DISTRICT OF TOFINO FINANCIAL PLAN BYLAW NO. 1202, Effective Date. May 6, 2014 DISTRICT OF TOFINO

Transcription

1 CORPORATION OF THE DISTRICT OF TOFINO DISTRICT OF TOFINO DISTRICT OF TOFINO FINANCIAL PLAN BYLAW NO. 122, 214 Effective Date ~ May 6, 214

2 DISTRICT OF TOFINO FINANCIAL PLAN BYLAW NO. 122, 214 A Bylaw to approve the 5 Year Financial Plan for the year WHEREAS puruant to Section 165 of the Community Charter, a financial plan that i adopted annually; a municipality mut have AND WHEREAS the planning period for a financial plan i 5 year; NOW THEREFORE the Council of the Ditrict of Tofino, in open meeting embled, enact follow: 1. Citation Thi bylaw may be cited for all purpoe Ditrict of Tofino Financial Plan Bylaw No. 122, 214. Schedule Schedule A attached hereto and forming part of thi bylaw i hereby declared to be the Five Year Financial Plan of the Ditrict of Tofino for the period January 1, 214 to and including December 31, 218. Schedule B attached hereto and forming part of thi bylaw i hereby declared to be the Statement of Objective and Policie in accordance with Section 165 (3.1) of the Community Charter. 3. Repeal The Ditrict of Tofino Financial Plan Bylaw No. 1184, 213 i hereby repealed. READ A FIRST TIME on April 25, 214 READ A SECOND TIME on April 25, 214 READ A THIRD TIME on April 25, 214 ADOPTED on May 6, Financial Plan Bylaw No.122, 214 Robert MacPheron, Corporate Officer Page 2 of 14

3 W H W S : 1 ; H Schedule A Financial Plan Bylaw Bylaw No.122, 214 Ditrict ef Tofino General Segment 5 YearFinancial Plan Fical Year 214 to 218incluive Revenue Properly TaxReldenlla ( )(1,794,275) (1.a24,684) (1,92,22a) (1,a87,a4) R opertytaxutility (14,44) (15,57) (15,9) 5 (15,515) (16,485) Property TaxCorrmercial (1,219;529)(1,321.11) (1.343,424) (1,4,575) (1,39.53) Property TaxRecreation/NonFrofil 5 (45,33) 5 (5,211) 5 (51,45) 5 (55,175) (52,757) Exce Levie re: Supplerrenl?, ~ GILT/PlLTanddlherlevie inlieu of taxe 3 (17,231) (134,251) 5 (136,936) (139,575), (142,455) TotalRevenuefrom PropertyTaxe (3,o43,437) (3,315,41a) (3,372,27) (3,512,27)~ (3,4aa,a2) Parcel Taxe S _ Fee and Charge (57, F)3oceedfrom Borrowing 3% Proceedfrom Grant 5 (993,553) 5 (885,48) 3%(885,918); Proceed fromameni1y Retricted Revenue "9 " Fhnceed from DCCRe1ric1ed Revenue 5,., (2,) I Hoceed from Capitalwork Reerve (15,261) (15,261) (515,261), (15,261): ~ : Fyroceewd from Special Reject Reerve (12,849) (14,522) S F) Ceed from GeneralOperating Surplu S (411,682) (,) (,)[ (,) (,) Hoceed frdmg Tax Deferred Revenue (326,522) ~ ~ Hbceed(rem ReortMunicipalityDeferred Revenue (827,232). :. fromreor1m..lnicipa ixy Inlllalive We ) 5 (68, (58 rdr?fire Truck Reerve eed1romf lnreerve (125,525) (5,) (18,) (12,) Proeeedyfrom other Reerve (471,197) (6,) Otherource (277,582) (285,731) (289,724): (299,161) S (389,442) Total Revenue not from Property Taxe (4,741,472) (2,96,46) 5 (3,48,628) (2,938,248):(3,91,616) Total Revenue (7,784,959) (6,275,464) (6,852,654) (6,45,518), (6,58,278) Financial Plan Bylaw No.122, 214 Page 3 of 14

4 Fbbllc i y " y I Schedule A Continued Ditrict of Tofino General Segrneynty5 YearFinancial Plan Fical Year 214 to 218 incluive y Expenditure Legilalive 241,24 244, , Genera AdrrinitratioLn 1,172,937 1,24,9 1,215,93 1,, 1,42 Recreation 24,99 243,24 247,3. 252,5 257,37 Corrrmnity Children Centre 15, ,1 152,23 152,97 Planning 311,12 23, ,14 274,19 Bylaw 149,31 192, , ,171 12,477 Public Work 31,142 79,84 81,79 29,97 l iredepartment 27,2 293, , ,21 5 Emergency Operation,77 7,21 71,765 73,37 Service 1,1 12,2 1,448,326 1,1,499 Payment of Rincipal and Interet on Municipal Debt 125,9 86,391 71,841, Tranferto Capital Adrrinilralicn,2, 1 9 Tranferto TranferToCapital CCC Tranfer to Capital Planning 5. Tranfer to Capital Work 25,528 Tranfer to Capital Fire Department Tranfer to Capital Emergency Planning Tranfer to Capital RMIService Tranfer to Special Project Reerve Tranfer to Recreation Equiprrenl Reerve Tranferto CCC Equipment Reerve Tranfer to Hire Department Operating Reerve Tranfer to Fire Department Fire Truck Reerve Tranfer to Capital Work Reerve Tranfer to OCP Reerve Tranfer ( Zoning Bylaw Reerve Tranfer to SturmDurmReerve Tranfer to PW Reerve Tranfer to Water Operating Tranferlo Sew er Operating Total Expenditure 4, 1,836, , 14,5 9,215 34,522 75, 47, 7,5 2, 75, 2, 22,5 252, , ,667 7,784, ,3 y 47, 47, 19,5,9,,5 i, 2,, 2, 2, 75, 75, 22,5 3 32,5 3, i 113, , , 153, 4, 4 42,3 _ 39,917 75,1 94, 723, 283,_ 176, 47, 1 9, we 3, ,,9 45, 465, 6,275,464 6,852,654 6,45,518 6,58, Financial Plan Bylaw No.122, 214 Page 4 of 14

5 3 5 A *3! " " Schedule A Continued FicalYear Ditrict of Tofino 5 Year Capital Plan 214 to 218 incluive Source of Fund Council Capital Revenue Adninilration Capital Revenue Recreation Capital Revenue OCCCapitelRevenue Developrrent Service Capital Revenue Rgblic Work Capital Revenue Hre Department Capital Revenue Errergeney perationcapital Revenue Nic Wat Sew er CapitalReve e Developer Contribution Total Sourceof Fund Ue of Fund Council Capital Expenditure Adninitration Capital Expenditure Recreation Capital Expenditure CC Capital Expenditure Development Service Capital Expenditure PublicWork CapitalExpenditure l"iredepartment Capital Expenditure Emergency Operation Mcellaneou Capital Expenditure Water Capital Expenditure Sew er Capital Expenditure Total Ue of Fund Capital Expendilure (2,) : 93 ~ ~ S 5 I ~ ~ 5 (25,528) 5 (94,) 5 (723,) 3 (283,) (17,) 5 ~ 7,, 5 *(1 [ 5 é (455,)" 1 (9,) (5,) (545,); (1,23;) : (2,3e,99) 5 (599,) (1,73,)~ (1,o2,). (z,314,) A «i 3 2, 3 ~. i 5, ~,3; 25, , 1,23,1e5 3 A 419, , 495, 3 5, 9, 27,55 5, 5 545, 5 145,1, 2é", 2,368, , 5 1,73, 1,2a,,2,a14,oo Financial Plan Bylaw No.122, 214 Page5of14

6 S S 39 R I I Schedule A Continued Ditrictof re?ne Water Segment 5 Year Financial Plan Fical Year incluive Revenue : 217: 218 Fee and Charge fromale of ervice 55 (75,281) (692,95) (692,95), 3 (692,95) (692,95) O1herRevenue (74,675) 8 (1,) (121,):9 (1,) 9 (1,) Grant 515 S Froceed frmborrowing ~ ~ ~ Tranfer from ReortMni pa ~ ~ S Tranfer frmdccre1ricle5 Reveniie ~ 33 TranferirmWaterCapitalSurplu (111,289) S S Tranfer(rainwater Operating Surplu (32,79) (6,), 3 (85,): (115,) TranferrremGeneral Operating/Surplu (29,56) (499,688) 8 (485,) (485,) S (485,) Tranfer from SevverOperating ~ TotalWater Revenue (1,214,595) (1,252,733) (1,29,95) (1,253,95) (1,293,95) Expenditure Adrrinllralion , , , ,688 F\Jrr pstation Equipment 1,186 2,237 2,398 Reervoir 39,512 Treatment 33 79,343 84,199 Delivery and Other 15 89,1 5 " interet and Expene on Debt ,265 Tranfer lowalercapl1a 75, 134, ~ Tranfer to Water Capital Reerve 369, , , 6, Tranfer to General Revenue ~ Tranfer 1WalerOperaling Surplu 32, , ,29 15,769 Total Water Expenditure 5 1,214, ,252, ,298,95 8 1,253,95 j 5 1,293,95 i Financial Plan Bylaw No.122, 214 Page 6 of 14

7 I y S 58 y > Schedule A Continued Ditrict of Tofino SewerSegmentjxear Financial Plan Fical Year incluive Reve nue Fee and Charge from ale of ervice Other Revenue Grant Proceedfrom Borrowing Tranfer fromdocretricted Revenue Tranyf Tranferfrom S fro m General Surplu Tranfer Total Sewer Revenue Expenditure Adminitration LiftStation Equiprnent Treatment Delivery 6 M ellaneou interetand Expeneon Debt neralrevenue ting Surplu Tranferto Tranferto Tranfer1:3Sewer Reerve Tranfer to Sewer Capital Total Sewer Expenditure : S (62,5) 5 (2,5) 3 (52,5) 8 (2,5) (2,5) (49,o 5 5 Q3 ~ ~ 3,, 5:, (27,315) (27, 5), y r (23,994) 5 i (1,11,494) 5 (29,15) (529,15) 5 (2,15)i (29,15) : 217; 21 24, 24,9 24,9 r 24,9 _ 24,9 3 69,617 69,617 69, ,617 E5 9, [ A 2 ~ S 125, , ,5[ ,5,,,,5,3 A,,,,,,,, S * H 8 25,479 5 S 3 5 I 5. S ,2 5 15, 9 15, 9 15, 15, 51,11, , , ,15 629, Financiat Plan Bylaw No.122, 214 Page7of14

8 Schedule B Financial Plan Bylaw Bylaw No. 122, 214 Statement of Objective and Policie Funding Source The proportion of total revenue propoed to be raied from each type of funding ource i illutrated in Table 1 through 4. General Operating Other ource form a large proportion of the revenue in the general operating budget. The other ource conit mainly of tranfer from reerve and grant fund, either already approved or to be applied for. A a mall community with a limited property tax be and the deire to provide an infrtructure to accommodate a large eonal influx of peron, it i important to have other ource of fund to upplement property taxe. Property taxe alo form a large proportion of revenue for the general operating budget. A a revenue ource, property taxation offer a number of advantage, for example, it i imple to adminiter and explain to taxpayer. it offer a table and reliable ource of revenue for ervice that are difficult or undeirable to fund on a uerpay bi. Thee include ervice uch general adminitration, fire protection, recreation program, child care, bylaw enforcement and infrtructure upgrade. Property tax revenue include a property value tax levy pecifically related to water and ewer infrtructure repair and replacement. The levy cannot be charged in exce of 485, per annum and there mut be an approved water and ewer capital plan in place relating to the infrtructure repair and replacement project. The amount included in the Financial Plan for 214 i 439,85. The amount included for year 215 to 218 i the maximum of 485, and i ubject to change bed on approved annual infrtructure project. Water Operating Uer fee and charge form the greatet proportion of revenue in the water operating budget. A a revenue ource, uer fee and charge permit the cot of operating, maintaining and expanding the ytem to be ditributed in a proportional ytem to the uer of the ytem. Other Source form the econd greatet proportion of revenue for the water operating budget. The other ource conit mainly of tranfer from general Financial Plan Bylaw No.122, 214 Page 8 of 14

9 SCHEDULE B (Continued) operating and general operating urplu, water operating and water capital reerve. A a mall community with a limited water uer be and the deire to provide water infrtructure to accommodate a large eonal influx of peron, it i important to have outide ource of fund to upplement the uer fee. Sewer Operating Uer fee and charge repreent the greatet proportion of revenue for the ewer operating budget. A a revenue ource, uer fee and charge permit the cot of operating, maintaining and expanding the ytem to be ditributed in a proportional ytem to the uer of the ytem. Other ource repreent the econd greatet proportion of revenue for the ewer operating budget. Other ource conit mainly of grant fund, tranfer from general operating and general operating urplu and capita reerve. Table 1: Source of Revenue General Operating Revenue Source % of Total Revenue Dollar alue Property alue Taxe 39.1% 3,43,487 Parcel Taxe.% Uer fee and charge 7.3% 569,818 Other ource 53.6% 4,171,655 lproceed from Borrowing.% ltotal 1.% 7,784,959 Table 2: Source of Revenue Water Operating Revenue Source % of Total Revenue Dollar alue Property alue Taxe.% Parcel Taxe.% Uer fee and charge 55.2% 692,95 Other ource 44.8% 56,638 Proceed from Borrowing.% Total 1.% 1,252, Financial Plan Bylaw No.122, 214 Page 9 of 14

10 Reviewing Examining Increing Reviewing Determining SCHEDULE B (Continued) Table 3: Source of Revenue Sewer Operating Revenue Source % of Total Revenue Dollar alue Property alue Taxe.% Parcel Taxe.% Uer fee and charge 83.7% 616,5 Other ource 16.3% 119,667 Proceed from Borrowing.% Total 1.% 736,167 Table 4: Source of Revenue ~ Conolidated Revenue Source % of Total Revenue Dollar alue Property alue Taxe 31.1% 3,43,487 Parcel Taxe.% Uer fee and charge 19.2% 1,878,413 Other ource 49.6% 4,851,96 Proceed from Borrowing.% Total 1.% 9,773,86 Objective: Over the next three year, the Ditrict will conider change to the proportion and ource of revenue funding which will include reviewing water and ewer rate for uer fee and charge and may include: General the rate for uer fee and charge, new ource of revenue, primarily from uer fee and charge which may include making ue of exiting or new et and or ervice, tax rate. Water the methodology ued to calculate uer fee and charge other ource of fund to offet the cot of operating, maintaining or expanding the water delivery and treatment ytem Financial Plan Bylaw No.122, 214 Page 1 of 14

11 Reviewing Determining SCHEDULE B (Continued) Sewer the methodology ued to calculate uer fee and charge other ource of fund to offet the cot of operating, maintaining or expanding the wtewater water delivery and treatment ytem. Policie: The Ditrict of Tofino (Ditrict) will review all uer fee level and charge to enure they are adequately meeting both the capital and delivery cot of the ervice well meeting the goal and objective of the Ditrict in term of cotrecovery, if any. Univeral water metering will continue to enure that appropriate uer fee are being collected for water conumption uage. Water and Sewer will charge conumption fee and charge to offet the operating and capital cot of maintaining, improving and expanding the delivery and treatment ytem. Where poible, grant or outide contribution through partnerhip or agreement, including DCCS, will be ought to offet much of the cot for tudie, operational or capital cot poible in order to leen the reliance on property value taxe or uer fee and charge. Ditribution of Property Taxe The ditribution of property taxe among the property cle i illutrated in Table 5. The practice of Council h been to et taxe in order to maintain modified proportional tax tability. Thi i accomplihed by maintaining the proportion of taxe paid by each cl year over year modified by change in Non Market Change (Real Growth) for each year. Thi can affect the rate over time one cl or another experience growth which i different from other cle. In 213 Council maintained thi approach with the exception of Cl (2) Utilitie. The Utilitie cl w et at a rate 2.5 time the rate of Cl (6) Buine and Other. The reidential property cl provide the larget proportion of property tax revenue. Thi i appropriate thi cl alo form the larget portion of the ement be. Buine and Other provide the econd larget proportion of property tax revenue. Thi cl include mot of the accommodation ector including hotel and reort. The remaining property cle are very mall and provide very minor proportion of the total property tax revenue Financial Plan Bylaw No.122, 214 Page 11 of 14

12 etting etting another SCHEDULE B (Continued) Table 5: Ditribution of Property Tax Rate Property Cl /o of Total Property Taxation Dollar alue (1) Reidential 56.4% 1,656,133 (2) Utilitie.5% 14,464 (3) Supportive Houing.% (4) Major lndutrial.% (5) Light Indutrial.% (6) Buine and Other 41.5% 1,219,329 (7) Managed Foret.% (8) Recreation/Nonprofit 1.6% 46,33 (9) Farmland.% Total 1.% 2,936,256 Policy: The Ditrict of Tofino (Ditrict) will ditribute the property taxe amongt the variou property cle uing a method to maintain modified proportional tability. Thi will be accomplihed by maintaining the proportion of taxe paid by each cl, year over year, modified by change in Non Market Change (real growth) for each year. The exception to thi approach i for Cl (2) Utilitie where the 213 rate w increed to 2.5 time the rate in Cl (6) Buine and Other. The Utilitie cl rate will incree to 4 per 1, of eed value by 216. Objective: The Ditrict will continue to ue the modified proportional tability method in all cle except Cl (2) where rate will incree to 4 by 216. Over the next three year, the Ditrict may conider further change to the method in which property taxe are ditributed which may include: property tax rate multiplier level and target, property tax ditribution percentage level and target, or method of property tax ditribution which may include a combination of level and target Financial Plan Bylaw No.122, 214 Page 12 of 14

13 SCHEDULE B (Continued) The method by which the Ditrict may eek to accomplih thi could include: determining an etimated average ue of municipal reource by variou property cle and the etting of a multiplier rate, tying to rate in other elected communitie, determining a deired proportion of property taxe for each property cl, or another method or combination of method. The Ditrict may conider the following factor to determine future deciionmaking: tax hift from one or more property cle to another, initiative to maintain, encourage or dicourage development of variou property type, alignment of the property tax rate multiplier or percentage ditribution with the ocial and economic goal of the community, comparion of rate multiplier or percentage ditribution in other elected communitie, or another method or combination of method. Permiive Tax Exemption Bylaw 1188, 214 contain a lit of permiive tax exemption granted for the 214 and 215 taxation year. The Ditrict h an exiting permiive tax exemption policy which guide the adminitration and approval of permiive tax exemption. Policy: Some of the eligibilitycriteria for permiive tax exemption that are outlined in the policy include the following: The tax exemption mut demontrate benefit to the community and reident of the Ditrict of Tofino (Ditrict) by enhancing the quality of life (economically, ocially, and, or culturally) within the community. The goal, policie and principle of the organization receiving the exemption mut not be inconitent or in conflict with thoe of the Ditrict. The organization receiving the exemption mut be a regitered non~profit ociety, the upport of the municipality will not be ued for commercial and private gain Financial Plan Bylaw No.122, 214 Page 13 of 14

14 The The Potential SCHEDULE B (Continued) Objective: The Ditrict willcontinue to conider permiive tax exemption to nonprofit ocietie meeting the criteria. Over the next three year, the Ditrict may conider method to expand it offering of permiive tax exemption to poible include revitalization tax exemption targeted at green development for the purpoe of encouraging development that will meet our Climate Action Charter commitment. The method to expand the offering of permiive tax exemption to be conidered may include: potential determination of eligibility requirement for green revitalization tax exemption; potential development of a green revitalization tax exemption program which detail the kind of green activitie that the potential exemption program willtarget; and method to integrate a potential green revitalization tax exemption program into the Ditrict exiting economic initiative a potential mean of attracting reidential, retail and commercial buinee to further invet in utainable living in the community. 214«218 Financial Plan Bylaw No.122, 214 Page 14 of 14