On Tuesday, April 1, 2025, Council called a special Committee of the Whole meeting to discuss the 2025 Budget and five-year financial plan. Dustin Rutsatz, the City's Planning and Procurement Manager, provided the Committee of the Whole with a final update on the 2025 budget expectations before the Five-Year Financial Plan Bylaw is finalized.

After the last budget presentation and recommendations on supplemental budget items back in March, the tax requirement was sitting at 9.11%.

Several environmental changes and federal announcements have occurred since then, which have the potential to impact the City’s financial operations. This meeting’s update presented options for some final changes to the budget. After reviewing the options presented, the Committee of the Whole recommended the following new considerations for the Five-Year Financial Plan Bylaw:

• deferring the initial debt funding to modernize the current police services building with a plan to reassess in 2026
• shifting the hiring of six additional Community Services Office to take effect July 1, 2025
• shifting the funding source for proposed security cameras from taxation to the Equipment Reserve
• accounting for announced changes to the BC carbon tax with a 50% reduction in the budgeted costs for 2025 and complete elimination for future years.

These proposed changes will result in a $2.4 million budget reduction and a change to taxation-based funding in 2025, resulting in a lower property tax increase of 7.42%.

The Five-Year Financial Plan Bylaw will receive first readings at a regular Council meeting on April 8, 2025.