Financial Planning

Each year, the District of Sooke Council must adopt a five year financial plan, with the current year of the plan being the annual budget. The financial plan identifies both operating and capital expenditures balanced against revenues from such sources as:

  • property tax
  • sale of services
  • grants
  • transfers from other governments

The financial plan is developed by Council through their strategic planning process and identifies for staff and the public what types and quality of services are to be provided. A public consultation process is required for the financial plan and the municipality must produce annual audited financial statements in accordance with generally accepted accounting principles (Public Sector Account Board of the Canadian Institute of Chartered Accountants). The audited statements must be included in the Annual Municipal Report.

2009 Annual Report

2008 Audited Financial Statement

 

The 2008-2012 Financial Plan identifies funding sources and expenditures for some major planning and capital projects.

Financial Issues Facing the District of Sooke

  • Gatewood to Phillips Rd Collector Improvement Project
  • Highway #14 Improvement Project
  • Galloping Goose Connection to Town Centre
  • Downtown Revitalization and Sidewalk Improvement Project
  • Integration of Parks and Trails Network
  • Waterfront Access and Public Boat Launch
  • Managing Growth and Infrastructure Gap
  • Stormwater Management Plan and Infrastructure Improvements
  • Sewer Local Service Area Expansion Plan
  • Revenue and Tax Rate Policy:
  • Distribution of Taxes among Property Classes
  • Distribution of Revenue between Revenue Types (e.g. taxes, fees and charges, grants, etc.)
  • Long Term Capital Planning to meet the needs of the Community