Governance & Priorities Meeting Highlights for April 6, 2021

Posted On Wednesday April 07, 2021

Council Reviews Revenue and Taxation Policy

Council accepted an update to the Revenue and Taxation policy during last night’s meeting. With the policy being up for review this year, Administration moved forward with providing Council options and recommendations for an updated policy.

An updated policy will be brought to Council for approval at the April 26 meeting. The Tax Rate bylaw, which will set the tax rates for 2021, will follow on May 10.

Learn more about the Revenue & Taxation policy and find the complete review in the agenda package on pages 11 – 30.

Fiscal Sustainability Framework Enters Phase 2

Strengthening the fiscal sustainability of the Town is a key action identified in the Strategic Plan. In 2013, Council approved a series of seven updated financial policies, laying the groundwork for the Fiscal Sustainability Framework (FSF). The FSF provides the Town with financial guidance and is used by Council and Administration as a reference in decision making.

Last year, Council approved strategies for investments, debt management, self-sustaining utilities, and capital funding. The remaining strategies are planned to progress as follows:

 Asset Management

 May 2021

 Service Levels

 May 2021

 Offsite Levies

 June 2021

 Reserves & Reserve Fund Management

 July 2021

The final Fiscal Sustainability Framework document will be presented to Council in September 2021.

Find more information about the Fiscal Sustainability Framework in the agenda package on pages 32 – 39.

Please note: This is not the official Town of Stony Plain council meeting minutes. Please refer to Agendas and Minutes for all supporting documents, and official meeting minutes that have been approved by Town Council.