Five Year Financial Plan
Under the provisions of the Local Government Act, the municipality must have a financial plan that is adopted annually, by bylaw, before May 15th, which is the date that the annual property tax bylaw must be adopted. The planning period is five years, covering the current year plus the next four years.
Council must undertake a process of public consultation regarding the proposed financial plan before it is adopted. This is normally done in the early part of the year by way of a public meeting. Notice of the meeting is placed in the local papers.
- Adpoted 2014-2018 Financial Plan - 38.4 MB
- The 2014-2018 Financial Plan Bylaw #5481 included a provision for a transfer of taxation from the Regional District of the North Okanagan (RDNO) Tax Requisition, onto the direct taxation imposed, and retained by the City of Vernon for Recreation Facilities and programming.
A memo from the General Manager Finance, RDNO, dated February 26, 2014, outlined the "...inability to adopt RDNO Bylaw #2597 in time for the 2014 Fiscal Year..." (included in the “Amendments to the 2014-2018 Financial Plan” PDF)
The inability to enact the Facilities and Programming MOU necessitated the City of Vernon to amend the Financial Plan to remove our authorization to tax the $2,235,124, specified as Vernon's share under the MOU.
The amendment of our Financial Plan required a revised Schedule A of bylaw #5481. The replacement schedule dated March 25, 2014 is included in the “Amendments to the 2014-2018 Financial Plan” PDF below.
- Amendments to the 2014-2018 Financial Plan - 3.72 MB
- Adopted 2013-2017 Financial Plan - 27.1 MB
- 2012-2016 Financial Plan - 37.60MB
- 2011-2015 Financial Plan - 15.60MB
- Budget Revisions 2011. - 3.36MB
- 2010-2014 City of Vernon Proposed Financial Plan. - 8.73MB
- 2009-2013 Financial Plan - 5.10MB
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