2012 approved budget and financial plan - Regional Municipality of ...

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24 2012 BUDGET & 2013 -2017 PLAN GUIDELINES 2012 Budget Theme “Investing in Sustainable Communities” Fiscal Resilience Pillars The Regional Municipality of Wood Buffalo seeks to establish an organization that is both fiscally adaptive and regenerative. To achieve fiscal resilience, the Municipality commits to develop its long-term financial position based on the following eight (8) pillars of financial resilience, one budget at a time: Diversity – Diversity is achieved by keeping a multi-faceted perspective on financial health. It will entail maintenance and balance of diverse revenue sources and reserves to reduce reliance on annual tax increments. Diversity also incorporates enlarging the base of supportive stakeholders Redundancy – Redundancy is achieved through establishment of ‘true-reserves’ guided or managed through policy and directives. Multiple strategies for long-term financial health will be pursued; and a reserve policy to prevent use for recurring expenditures and specifying the purpose of reserves will be maintained Decentralization – This involves engaging departments in identifying issues, analyzing them and developing strategies. Departments will also be engaged in financial modelling and forecasting with managers responsible for managing their cost and revenue structures. This will result in the development of an organization-wide strategic framework that departments can innovate within Transparency – Transparency implies openness, communication and accountability through-out the financial planning processes. The Municipality will promote transparency in key areas like goals and objectives, forecast assumptions and reserve standards. Full-cost (direct and indirect) accounting will also be used for programs Collaboration – This entails building Elected Officials’ service priorities into the budget plan. Key indicators will also be used to help elected officials stay abreast on the financial condition of the Municipality Continuously Learn – Daily achievement is firmly rooted in our collective determination that what we do, we do well. Continuous learning recognizes changing conditions to make a soft landing which in turn promotes credibility and open dialogue to learn from and correct failure Flexibility – Position for constant change. Each department will monitor its environment for developments that require change or adjustment in plans and be prepared to respond swiftly, effectively and efficiently Foresight – This principle entails the development of effective forecasting techniques, capacity building among administration and elected officials for strategic diagnosis. It also complements financial planning with other longterm plans – “You can’t predict the future, but you can hear its footsteps approaching”. Departments in collaboration with Financial Planning must develop and use financial forecasts based on: o Resisting to predict the future but to identify the parameters within which to execute strategies; o Involving other departments; and o Developing flexible scenario modeling to show impacts of different possible futures.
25 OPERATING BUDGET DEVELOPMENT GUIDELINES The 2012 operating budget and 2013 – 2014 operating plans shall be guided by fiscal health measures of: sustainability, flexibility and vulnerability. SUSTAINABILITY – the degree to which the Municipality can maintain existing programs and meet existing creditor requirements without increasing the debt burden FLEXIBILITY – the degree to which the Municipality can increase its financial resources to respond to rising commitments, by either expanding its revenues or increasing its debt burden VULNERABILITY – the degree to which the Municipality becomes dependent on, and therefore vulnerable to, sources of funding outside of its control or influence General Guidelines: • Current revenues support current expenditures • Align business plans and budget with Municipal Development Plan • Maintain approved fiscal stability reserves • Provide sufficient asset maintenance funding • Maintain quality of life programs in place • Identify increasing service levels based on demonstrated demand • Maintain competitive compensation and benefits package for Regional Municipality’s employees Budget Baseline In general, all accounts are to be budgeted as follows: • Salary & benefits as per active or estimated wage settlement contracts plus growth • Contracted services as per contract terms • All other expenses as per growth or incremental costs The 2012 Base line budget is set by taking into account existing recurring costs, fiscal strategy, trends and adjusting for annualized costs (where applicable), growth, program/service level changes and inflation: • Annualized Costs – Review on-going expenses such as personnel or contracted services that started during 2011. Calculate and include in the base year the equivalent of relevant full year’s costs • Growth – Increases/Decreases as a result of population changes. Includes the additional costs required to maintain the same level of service to a larger or smaller population or service area. Identify the impact on the operating budget of new/completed capital assets for 2012 and anticipated impacts for 2013 and 2014. All growth funding requests must be justified through demonstrated changes in workloads or service demand • Inflation – While inflationary assumptions are included as part of these guidelines, departments are expected to absorb normal inflation within their 2012 allocation • Program/Service Level changes - Include Council supported changes to existing or initiation of new program/service
Page 1 and 2: 2012 APPROVED BUDGET AND FINANCIAL
Page 4 and 5: 4 2012 APPROVED BUDGET DOCUMENT REA
Page 6 and 7: INTRODUCTION 6
Page 8 and 9: 8 MUNICIPAL DEVELOPMENT PLAN WHAT
Page 10 and 11: 10 Work Together: Provide good gov
Page 12 and 13: 12 A MESSAGE FROM THE CHIEF ADMINIS
Page 14 and 15: 14 END STATE Wood Buffalo has emerg
Page 16 and 17: 16 BUDGET AND FINANCIAL POLICIES Th
Page 18 and 19: 18 Debt Policy The Municipality’s
Page 20 and 21: 20 OUTLOOK The Regional Municipalit
Page 22 and 23: 22 EXPENDITURE ASSUMPTIONS Goods &
Page 26 and 27: 26 CAPITAL BUDGET DEVELOPMENT GUIDE
Page 28 and 29: 28 CAPITAL FUNDING SOURCES An effec
Page 30 and 31: 30 A MESSAGE FROM THE CHIEF FINANCI
Page 32 and 33: 32 OPERATING REVENUE The approved 2
Page 34 and 35: 34 FUND DESCRIPTION & FUND STRUCTUR
Page 36 and 37: 36 REVENUE SUMMARIES The Regional M
Page 38 and 39: 38 4. SALES OF GOODS/SERVICES Sales
Page 40 and 41: EXPENDITURE SUMMARIES 2008 - 2012 4
Page 42 and 43: 42 In recent years, the Municipalit
Page 44 and 45: 44 5. FIXED ASSET ACQUISITION Acqui
Page 46 and 47: PERSONNEL SUMMARIES 2008 - 2012 46
Page 48 and 49: 48 POPULATION AND EMPLOYEES Total e
Page 50 and 51: 50 2012 APPROVED PERSONNEL BUDGET T
Page 52 and 53: DEBT AND DEBT MANAGEMENT SUMMARIES
Page 54 and 55: 54 subsequent debt management optio
Page 56 and 57: 56 DEBT BURDEN Debt financing requi
Page 58 and 59: 58 2012 CAPITAL BUDGET AND 2013 - 2
Page 60 and 61: 60 CAPITAL PLANNING AND BUDGET OVER
Page 62 and 63: CAPITAL IMPROVEMENT PROGRAM MAJOR C
Page 64 and 65: 64 PUBLIC FACILITIES Public facilit
Page 66 and 67: Financial Update Project Name Budge
Page 68 and 69: 68 Financial Update Project Name Bu
Page 70 and 71: 70 2013 CAPITAL PLAN Project Name A
Page 72 and 73: 72 Project Name Annual Cost North M
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74 Project Name Annual Cost Technol
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76 RECREATION AND CULTURE Recreatio
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Financial Update Project Name Budge
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80 2013 CAPITAL PLAN Project Name A
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TRANSPORTATION 82
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84 Financial Update Project Name Bu
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86 2015 - 2017 CAPITAL PLAN Project
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APPENDIX A ECONOMIC PROFILE
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Table of contents DISCLAIMER 4 A UN
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A UNIQUE REGION IN EVERY WAY The Re
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oIL SANDS PROJECTS • $120 billion
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econoMIC IMPACTS OF alberta’s OIL
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The Fort McMurray Airport serves 71
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Population and Demographics Over 32
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Wood Buffalo residents enjoy income
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economic highlights Tenth best entr
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Lifestyle and Community Services He
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SUNCOR COMMUNITY LEISURE CENTRE The
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CONTACTS Jeff Penney Manager, Econo
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APPENDIX B REGIONAL MUNICIPALITY OF
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introduction The Strategic Plan ide
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term and scope of the strategic pla
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In addition to the core principles
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priority 1DIRECT RESPONSIBLE GROWTH
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priority 3REVITALIZE THE CITY CENTR
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priority 5PROMOTE THE DEVelopment O
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priority 7INCREASE ECONOMIC DEVelop
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priority 9INVEST IN ARTS, recreatio
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APPENDIX C 2011 - 2014 FISCAL MANAG
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Contents 1.0 INTRODUCTION AND ASSUM
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The following assumptions relate to
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However, during the same period, th
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3.0 DEBT AND DEBT SERVICE 3.1 Total
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80.00% 70.00% 60.00% 50.00% 40.00%
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The following graph indicates proje
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5.0 FINANCIAL CONDITION INDICATORS
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20% 15% 10% 5% 0% Financial Vulnera
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GLOSSARY OF TERMS
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Division - This is an administrativ
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SAA - Senior Administrative Assista
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