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Budgets and Financial Planning

This page was last reviewed on January 14, 2025.

2025-2029 Budget Development

View the 2025-2029 Village Hall Financial Plan meeting package from November 18, 2024.

View the Financial Plan Village Hall presentation.
View the Financial Plan Village Hall minutes.

View the staff presentations related to the proposed 2025-2029 financial planning process, presented to Council at the October 7 and October 15 Committee of the Whole meetings.

View the adopted 2025-2029 Financial Plan Bylaw 2024.

Annual Budget Development Process

Each year

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

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

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

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.

Find out more about Village Financial Reporting.

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