The District of Stewart completes a five year financial plan, which is updated every year, to ensure responsible money management that relates directly to the priorities identified by the community.
The CAO and the Director of Financial Administration coordinate the Districts’ five-year Financial Plan process, analyzes department budget information, prepares non-departmental revenue estimates, assembles the budget document and provides overview, financial monitoring, and reporting once the budget is adopted.
Steps in developing a financial plan:
- The Director of Financial Administration coordinates budget submissions from the departments;
- The CAO presents to Council the draft of the proposed Five-Year Financial Plan;
- Council holds a number of meetings to review and finalized the proposed Five-Year Financial Plan for the final approval. All meetings are open to the public and Stewart citizens are invited and encouraged to provide their input and be part of the process;
- The Financial Plan Bylaw is prepared based on Council decisions, given three readings and adopted.
Having a Financial Plan:
- Provides District staff with clear direction and the authority to pay for services for Stewart citizens;
- Ensures accountability to the citizens;
- Meets the requirements of the Community Charter.