COVID-19 Financial Plan Revision

Revised 2020 Financial Plan

The District of Central Saanich will be considering a revised 2020 budget to address the financial impact on taxpayers from the COVID-19 pandemic. The changes to the draft budget will be presented to Council at the Council meeting on Monday, April 6, at 7:00 p.m.

The revised budget reduces almost $177,000 in planned spending, accounts for a decrease in revenue and includes use of a $400,000 financial stabilization reserve fund as a pandemic contingency. The tax increase is also reduced to a proposed 2.85% and would support the basic municipal services and key projects and initiatives to move the District forward during the anticipated recovery period.

This altered approach means that Central Saanich can implement an appropriate financial strategy to ensure continued funding is available to support daily operations, while also planning for the uncertainty created by the COVID-19 pandemic.

The full report to Council regarding 2020 financial planning is available here. When the budget is approved, the Financial Plan bylaw and Tax Rates Bylaw will be updated and brought to Council for adoption at the April 20, 2020, Council meeting.