The budgetary process includes the township’s operating and capital property budgets. A draft is prepared in consideration of the anticipated income and expenses for the year, i.e. operational expenses and capital expenses such as repairs and maintenance work for public services.

 

All recommended investment projects are subject to an assessment process before being added to the budget. After that, the final budget is presented to the municipal council for approval.

 

Chartered accountants audit the township’s financial status every year in order to meet certain standards.

 

An asset management plan is drawn up to help plan the township’s financial needs and processes. This plan accounts for the current state of assets, estimates their lifespan, and plans for their eventual replacement cost.