Council Adopts Updated Five-Year Financial Plan and 2023 Budget

At the April 24, 2023 Regular Council meeting, Council adopted the bylaw cited as "2023-2027 Financial Plan Bylaw No. 881, 2023."

The 2023-2027 Five-Year Financial Plan is prepared by the Finance Service Area of the District of Sooke with support from administrative leadership. The district’s budget, and corresponding financial plan, are updated annually. It is informed through public participation (citizen budget survey and community pop-ups from mid-June to mid-July each year), Council's strategic priorities, master plans and technical guidance from staff.

Highlights from 2023 within the plan include (approximate values):

• Overall budget: $44,564,552.
• General Municipal Property Taxes of $10,727,707 - with adjustments from non-market change revenue, yielding a 5.65% property tax increase for the district service portion of taxes collected.
• The 2023 residential property tax increase based on the average assessment is $75/year or $6.25/month.
• Residential property tax account for $84.15% of the taxes collected on municipal services; 14.21% come from businesses and 1.22% from industrial.
• $71,000 increase for community service agreements, totalling $303,180, with agencies including:
  • Sooke Region Community Health Initiative
  • Sooke Shelter Society
  • Sooke Community Arts Council
  • Sooke Fine Arts Society
  • Sooke Food Bank
  • Sooke Family Resource Society
  • Sooke Community Association
  • Sooke Region Tourism Association
  • Sooke Region Chamber of Commerce
  • Sooek Region Visitor Information Centre
• $162,000 accounted for within the Administrative Service budget for climate change initiatives in 2023. Of the 162,000, $135,000 is funded by Provincial Local Government Climate Action Program.
• $39,00 reduction within the Corporate Services budget (non-election year adjustment)
• $65,200 non-discretionary increase for property insurance
• $6.9 million Charters Road Corridor (2023-2024 Capital Project)
• $4.5 million Church Road Roundabout (2023-2024 Capital Project)
• $2.2 million LIttle River Crossing Capital Project ($1 million district funding; $1.2 million contingent on grant funding)
• Transit stops and street light improvements
• $150,000 increase to road maintenance budget
• $450,000 Otter Road Point North Resurfacing Project
• $125,000 Manzer Road Paving Project
• $130,000 park asset repairs and maintenance
• $1.1 million Ravens Ridge Park Recreation enhancements including an accessible viewing area with seating and picnic tables, accessible parking, bleachers, small multi-purpose grass playing field, 3 on 3 basketball court, and considerable landscaping
• $400,000 Sooke Potholes Gateway Enhancement Project (Grant funded)
• Additional fire, emergency program and police (human) resources