Financial Planning for the Future
We are all finding ways to save money these days, including here at the City of Vaughan. As our residents and businesses deal with the economic downturn, the City too must manage its budget by being innovative and frugal. Tough decisions will have to be made to ensure that excellent service levels are maintained while having the least impact on residential taxes in 2010 and beyond.
The City of Vaughan has positioned itself well during this economic downturn and remains in a strong financial position. However, Vaughan is a growing City and with growth comes an increased demand for services as well as added infrastructure needs. The economy is showing signs of recovery but the effects of the recession will linger for some time to come.
To respond to these economic challenges, Vaughan Council has passed the 2010 Operating Budget and Business Planning Guidelines. These guidelines will ensure that the City has a sustainable Budget for 2010. Included in the guidelines are specific actions such as:
- Freezing the majority of budget items at 2009 levels
- Developing a strategy to increase non-taxation revenues
- Evaluating vacant staff positions prior to recruitment
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- Introducing voluntary time off without pay
- Reducing specific budget items below 2009 levels
Strong fiscal management in the months ahead will ensure that service levels are maintained while having the least impact on property taxes in 2010 and beyond. The belt-tightening will include a ten per cent cut for expenses such as travel, meals, overtime and furniture. Budget increases will be limited to pre-existing commitments such as employment agreements and service contracts.
What is the community’s role? We want our citizens to better understand and participate in the budget process and will be consulting widely with residents as we go through the development of the 2010 Operating Budget. In order to achieve maximum citizen participation, the City will hold formal public consultations in the fall and winter. As well, Budget Committee meetings will begin in the fall and continue throughout the process.
These are public meetings and provide an opportunity for residents to participate. As well, a new website feature has been launched as an online information resource with a convenient way to provide feedback.
The 2010 Budget Online Forum is a featured link on the City’s homepage at www.vaughan.ca.
Any and all ideas, thoughts or proposals are welcome at any time to assist with budget discussions. If you have comments or questions about the City of Vaughan Budget please contact Acting Budget Committee Chair Councillor Peter Meffe at peter.meffe@vaughan.ca.