The Town of Golden is committed to sound financial management and developing a responsible budget. Under the Community Charter, the Town is required to adopt a five year financial plan, bylaw, before May 15 of each year. The Budget steps include:
- Planning: Managers provide project work sheets to the Chief Financial Officer (CFO) and they review and prioritize the projects. The Chief Administrative Officer (CAO) provides final administrative approval.
- Council Consideration: Council considers the CAO’s approvals to determine what will be included in the draft financial plan.
- First Reading: The draft package is prepared and given 1st reading by Council.
- Public Consultation: Residents are given the opportunity to review the plan, comment and ask questions. A summary of public input is then presented to Council and revisions to the plan can be made in preparation for 2nd and 3rd Readings. Final adoption must take place before May 15.
The Town of Golden's 2022 budget process is underway! The proposed 2022 Budget and 2022-2026 five-year Financial Plan is now available in the Budget Book:
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 9th 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.
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.