City Launches Draft Financial Plan for 2023 - 2027: The Route Ahead

Wednesday, February 15, 2023

Port Alberni, BC – At the Committee of the Whole meeting of February 6, 2023 the City of Port Alberni launched an overview of its draft Five-Year Financial Plan (the Financial Plan) that will determine major financial decisions and commitments to our community. A detailed draft Financial Plan was subsequently received by City Council for consideration and first reading of the Financial Plan Bylaw provided at its Regular meeting of February 13th.

The Financial Plan, reflects the continuation of initiatives related directly to revenue generation, property taxation, and permissive tax exemptions of the 2019-2023 Council Strategic Priorities. An updated version of the Strategic Plan is in progress. Council will have opportunities to review and amend the Financial Plan prior to final adoption, which is required to be completed by May 15, 2023. 

“City staff have been working diligently to identify ways in which Council can use revenues, funds, grants and reserves to find a balance between property tax increases, infrastructure maintenance and renewal, and the continued delivery of services, “said Mayor Sharie Minions. “It is now the role of Council to review and modify the draft Financial Plan with input from the public to ensure that the Financial Plan accurately reflects Council’s current vision balanced with the community’s needs.

In its current state, the draft Financial Plan includes a proposed property tax increase of 8.0% for 2023, with increases in subsequent years ranging from 6.0 – 8.0%.

“The proposed taxation increase may be amended through the financial planning process as direction is provided by Council,” said Andrew McGifford, Director of Finance. “The multi-layered process to adopt the Five-year Financial Plan Bylaw spans the next few months, following a course that enables public input and engagement, Council deliberations and revisions,” concluded McGifford.

Several opportunities to participate in the budget process are coming soon: an informal budget talk with the public and Committee of the Whole on February 21 at 6 p.m., a virtual Town Hall on March 6 at 6 p.m. and several Regular meetings of Council at 2 p.m. For a full list of meetings, times and locations, or to find other ways to have your voice heard, visit www.portalberni.ca/budget. 

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For More Information

Andrew McGifford, Director of Finance

City of Port Alberni

250.720.2821

andrew_mcgifford@portalberni.ca