File photo of CVRD board.

File photo of CVRD board.

Comox Valley Regional District launches budget process

The Comox Valley Regional District launched its 2022-2026 financial planning process Jan. 25. Individual service budgets will start being presented to the respective CVRD committees and commissions for review and feedback over the next seven weeks.

Good fiscal management and financial best practices are at the core of the CVRD financial planning process. Each year, the district prepares an updated five-year financial plan that represents the operational and capital requirements of each service from one budget year to the next. The yearly budget process utilizes “zero- based” budgeting concepts, meaning each service is reviewed, and budgets are created based on approved work plans and priorities. Both expenditures and revenue sources are evaluated to ensure the financial plan is current, sound and can achieve the priorities as outlined. Additionally, the long-term requirements are reviewed to ensure sufficient reserves are maintained, and are available to sustain appropriate service levels over both the short- and long-term.

“Budget presentations will last until March 15, and we encourage questions, comments and feedback on the individual financial plans for all our services,” said Kevin Douville, manager of financial planning. “Feedback can be provided before 4:30 p.m. on March 16.”

The timeline for the 2022 – 2026 CVRD financial planning process is:

•Jan. 25 – March 15: Budget presentations commence and feedback welcomed;

•March 16: Feedback required to be submitted to CVRD by 4:30 p.m.;

•March 29: Annual Budget Bylaw presented to CVRD board for first, second and third reading;

•March 31: The CVRD is legislatively required to have budgets approved. Annual Budget Bylaw presented to CVRD board for final adoption.

There are several ways to get involved:

•Visit www.comoxvalleyrd.ca/agendas to find meeting schedules;

•Tune-in to watch CVRD meetings live: www.comoxvalleyrd.ca/livestream or watch recorded sessions at www.comoxvalleyrd.ca/minutes;

•Submit comments, questions or feedback to www.comoxvalleyrd.ca/budgetinquiries, or call Douville at 250-334-6078;

•Provide a presentation to the board or one of its committees through a formal delegation;

•Contact a board member directly by visiting: www.comoxvalleyrd.ca/boardstructure.

budgetComox Valley Regional District

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