qathet Regional District (qRD) will consider going with an accelerated schedule for the 2022 to 2026 financial plan.
At the September 7 finance committee meeting, directors recommended that the regional board approve the 2022 to 2026 financial planning process as proposed at the meeting. According to the schedule, the first meeting to consider the budget would be at the October 20 finance committee meeting, with final adoption of the budget by the regional board proposed for February 2022. The financial plan does not need to be adopted until March 31, 2022.
Electoral Area E director Andrew Fall said it looks very good and it was nice for the regional district to have the financial plan moved up a bit earlier in the year.
“I think it’s a really good process,” said Fall.
Electoral Area D director Sandy McCormick said her question had to do with the last part of the schedule, which was the February 2022 adoption.
“I’m just wondering, because it isn’t actually due by the government until the end of March, if there’s any issues with approving it too early,” asked McCormick. “Things might happen in that last month.”
Manager of financial services Linda Greenan said there was no concern with approving it too early.
“My only concern was that I didn’t want to start the process too early because staff is still working on current projects,” said Greenan. “Approving it early will actually allow staff a bit more time to be confident that the budget is in place for the projects they have planned for that year.
“If there are things that come up in that last month, there is an opportunity to either adopt it in March after all. We could also do a budget amendment if something else comes up. We’d just like to try to make it earlier if we can.”
Finance committee chair and city director George Doubt said he likes starting as early as possible and it’s always possible to extend that final decision if the regional board needs to do so if things develop through the process.
The committee voted unanimously to recommend the board approve the financial planning schedule as laid out by the regional district’s finance department staff.