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Budgets and Financial Planning

This page was last reviewed on November 30, 2023.

Finance staff are responsible for receipt of all payments, keeping of all funds and securities, expending and disbursing money as authorized, keeping accurate records and full accounts of the financial affairs of the Village, and compiling and supplying financial information to internal and external sources.

Each year

  • the Village is audited and this audit is reported to Council in a public meeting in March or April
  • a five year financial plan is prepared and approved by Council (the budget)
  • a financial plan public consultation process is undertaken and five year financial plan bylaw considered – usually in the fall
  • property tax bylaw are adopted by Council by May 15

In accordance with the Community Charter, Cumberland Council must adopt a five year financial plan by May 15th each year.

Council usually considers a draft financial plan at a Committee of the Whole meeting in the late fall each year, then presents the plan at a following Village Hall and public open house.

The bylaw must set out proposed expenditures, funding sources, and transfers between funds, as well as policies and objectives relating to proportion of revenue to come from each funding source, distribution of property value taxes between classes, and permissive tax exemptions.

View the 2024 – 2028 Financial Plan Bylaw No. 1200, 2023 here.

Staff presentations related to the proposed 2024-2028 financial planning process can be viewed here.

The 2023 Village Hall Financial Plan for 2024-2028 was on November 20, 2023 and is available to view on the Village of Cumberland You Tube Channel.

Find out more about Village Financial Reporting.

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