Budget

• Budget increase: Last year the municipal property taxes collected from Golden residents was $6.19 million. As in prior years, Council sets a percentage increase to this portion of the budget based on the money needed to provide municipal services. This year, to offset inflation while still being cognizant of the impact on residents, Council is targeting a 6 per cent increase. While a 6 per cent increase will not balance the effects of inflation, it will help the municipality keep up with inflation while maintaining service levels. As always, the Town will be actively searching for as many grants as possible to alleviate the local tax burden for planned capital projects.
• Reserves: Town staff will re-examine the reserve policy in 2023 to ensure adequate balances in forthcoming years.
• 2023 Notable expenditures and initiatives: the downtown transformation will continue with a complete street renewal of 6^th Street North, between Ford and the Downtown Auto Wash, and the redevelopment of the Post Office Plaza; another phase of boulevard beautification work on the Trans Canada Highway will take place; Golden Fire Rescue will purchase a new fire truck; repaving will start on the 500 block of 8^th Street South; the skatepark expansion and Mount 7 Rec-Plex Block will be completed this year; and capital improvements to water and sewer systems will take place, keeping the most fundamental infrastructure for the community functional for the long term.

The public consultation period is now closed. Residents of Golden were invited to provide feedback on the proposed budget and financial plan from January 25 to February 21 through the following opportunities:

Online Survey: an online survey was made available from January 25 to February 21 receiving 90 responses. Check out the What We Heard Report.

Attend an upcoming Council Meeting: There was space allocated on the February 7 and 21 Council meeting agendas for a conversation with Council about the proposed budget.

Email and mail: correspondence was also accepted during the public consultation period.

• January 25, 2023: Town of Golden invites public to provide input on the 2023 Budget Book
• May 9, 2023: Town Council approves 2023 Budget and Property Tax Rates

January 24 at 1:15 p.m. - Regular Open Council Meeting: Proposed first reading of the 2023-2027 Five Year Financial Plan Bylaw

January 25 to February 21: Public Consultation Period.

February 7 at 7 p.m. - Regular Open Council Meeting: Proposed second reading of the 2023-2027 Five Year Financial Plan Bylaw

February 21 at 1:15 p.m. - Regular Open Council Meeting

February 28 at 1:15 p.m. - Special Open Council Meeting: Council consideration of public input regarding the proposed budget.

March 7 at 7 p.m. - Regular Open Council Meeting: Proposed third reading of the 2023-2027 Five Year Financial Plan Bylaw

March 14 at 1:15 p.m. - Standing Committee on Finance Meeting: Tax Rate Scenarios

March 21 at 1:15 p.m. - Regular Open Council Meeting: Proposed adoption of the 2023-2027 Five Year Financial Plan Bylaw

Council agendas and Zoom links are available the Friday before each meeting at ⁣golden.civicweb.net

The Town of Golden's 2022 budget process has come to an end. The proposed 2022 Budget and 2022-2026 five-year Financial Plan is available in the Budget Book:

• Budget Book: 2022 Proposed Annual Budget and 2022-2026 Financial Plan

Highlights from the Budget:

• Budget increase: Council is targeting a 5 per cent budget increase for 2022. While a 5 per cent increase will not balance the effects of inflation, it will help the municipality keep up with inflation while maintaining service levels. Town staff will re-examine the reserve policy in 2023 to ensure adequate balances in forthcoming years. As always, the Town will be actively searching for as many grants as possible to alleviate the local tax burden for planned capital projects.
• 2022 Notable expenditures and initiatives: the much anticipated 9^th Avenue North street renewal project will be completed by July; the Transportation and Active Transportation plans will be complete this year, setting a vision for the future of transportation in our community; the basketball courts and outdoor rink base will be replaced; a new floor is set to be installed at the Mount 7 Rec Plex; and continued work will take place to upgrade and maintain our community dike infrastructure.

Budget News Releases:

• May 16, 2022: Town Council approves 2022 Budget and Property Tax Rates.
• April 12, 2022: Budget Book and proposed Financial Plan now available.

Public Consultation:

Residents were invited to provide feedback on the proposed budget and financial plan from April 12 to 26 through the following opportunities:

Online survey: an online survey was made available from April 12-25 receiving 72 responses. Check out the What We Heard Report.

Council Meeting: there was space allocated on the April 26 Special Open Council Meeting agenda for a conversation with Council about the proposed budget

Email and mail: correspondence was also accepted during the public consultation period.