The City Introduces the 2024-2028 Draft Financial Plan

Port Alberni, BC – The City of Port Alberni has provided an initial overview of the Financial Plan that will guide major financial decisions for the community over the next five years. The report, presented by the Director of Finance, was received and discussed at a Committee of the Whole meeting Monday, February 5th. The Plan outlines how the City intends to implement Council’s strategic priorities—with a focus on investing in capital projects that will extend the life of key assets critical to the City’s growth.

The draft Financial Plan includes a proposed property tax increase of 16.86% for 2024, with increases in subsequent years ranging from 5.0 – 10.0%.

“There is a need to invest and extend the life of the City’s capital assets to ensure we maintain the same level of day-to-day services residents have come to expect in tandem with implementing strategic initiatives that will support the future growth in our community,” said Andrew McGifford, Director of Finance for the City of Port Alberni. “Over the next few months there will numerous opportunities for input from the public and Council to provide any recommendations or additional information in the planning process prior to final adoption.”

The proposed 2024 tax increase can be attributed to:

• External factors such as contractual obligations with organizations such as the RCMP and Vancouver Island Regional Library,
• Increased costs associated with internal service delivery,
• Investment in the City’s aging capital assets.

“The review of the Financial Plan is one of the most important roles of Council and we need to look at other ways to generate and expand our revenue streams to reduce the burden on taxpayers and to ensure everyone is contributing their fair share,” said Mayor of Port Alberni Sharie Minions.“Over the next few months I encourage residents to get involved and have their say in this important process.”

There are four ways for the public to participate:

1. Attend in person: City Hall, Council Chambers – 4850 Argyle Street
2. Watch Live at portalberni.ca
3. Participate via Webinar: Follow the webinar links at https://www.portalberni.ca/council-agendas-minutes and register
4. Provide your Input: Send questions and comments to council@portalberni.ca or mail/drop off at City Hall

Key dates include:

• February 12th @ 2pm - Regular Meeting | Financial Plan draft introduced and 1st Reading for Council
• February 20th @ 6pm - Committee of the Whole | Let's talk Budget! Public Engagement Session
• March 4th @ 6pm - Committee of the Whole | Let's talk Budget! Public Engagement Session
• March 11th @ 2pm - Regular Meeting | 2nd Reading for Council
• March 25th @ 2pm - Regular Meeting | 3rd Reading for Council
• April 8th @ 2pm - Regular Meeting | Council considers final approval of Financial Plan
• May 14th | Deadline for Council to adopt the 2024-2028 Financial Plan Bylaw

FOR MORE INFORMATION

Andrew McGifford, Director of Finance
City of Port Alberni
250.720.2821
andrew_mcgifford@portalberni.ca