Council completes their first reading of the budget and 5 year financial plan.
This occurred on April 15th, 2024
Public Presentation of the Budget and Public Hearing occurred on April 24th, 2024
Public Hearing scheduled for May 6th at 6PM at the Cache Creek Village Office
Can't make the meeting? Written submissions will be accepted until noon on May 6th
Council is scheduled to consider second and third readings at the May 6th Regular Council Meeting.
A Special Council Meeting will be called for final reading.
A municipal budget is a plan for how a community spends its money. It shows where the money comes from, like taxes, and where it goes, like fixing roads or maintaining parks. Leaders use it to make decisions about what's important and how to use money wisely. It's like a family budget, but for the whole town.
BC municipalities must have a balanced budget by law. Legally, they cannot spend more money than they receive in revenue. This ensures financial stability, prevents debt, and promotes responsible spending, meeting the needs of residents while safeguarding the municipality's financial health.
Inflation makes things cost more over time, so municipalities must budget more money for the same things, like fixing roads or paying for services. This means they might have to raise taxes or cut spending elsewhere to keep up with rising prices and meet community needs.