Financial Planning Committee Special Meeting Agenda

Extracted text (beginning)

Financial Planning Committee
Agenda
 
Date:Thursday, February 1, 2024
Time:2:00 pm - 4:00 pm
Location:Electronic Zoom Meeting
Pages
1.  CALL TO ORDER
2.  AGENDA
2.1  Review of the Agenda
Committee to consider late items, new items and re-ordering of the agenda plus
consider any need to create an in camera meeting
2.2  Approval of Agenda
3.  BUSINESS
3.1  Budget Guidelines - Discussion
3.1.1  Memo from Chair Bernardo to FPC
2 - 4
3.1.2  District of Saanich 2023 Budget Guidelines
5 - 17
4.  NEXT MEETING
Wednesday, February 21, 2024 at approximately 10:30 a.m. Start time is after the Audit
Committee adjourns which is expected to be at 10:30 a.m. 
5.  CLOSED MEETING
If desired:
That the meeting be closed to the public in accordance with the Community Charter, Part 4,
Division 3, s.90, (quote the pertinent section here, for example, (1)(a) personal information
about...) and that the recorder and staff [attend/not attend] the meeting.
6.  RISE AND REPORT
If desired.
7.  ADJOURNMENT
*Approximate time is provided for the convenience of the public only and is subject to change
without notice.

1   | P a g e 
 
Background 
At the August 2023 meeting of the FPC, we discussed the concept of budget guidelines in relation to 
corporate planning. 
Briefly:  
 All organizations need a process for allocating resources in accordance with their strategic 
priorities.  
 That’s corporate planning: the deliberate exercise of ensuring an organization’s financial and 
staffing decisions are closely aligned with its strategic objectives.  It is a process of coordinated 
decision-making that:  
o defines and prioritizes specific strategic goals; 
o identifies outcomes that will advance those goals; 
o develops work plans to achieve those outcomes that include performance benchmarks, 
specify completion dates, and identify the total resource commitment required to 
complete the plan;  
o authorizes and commits resources to plans on the basis of the relative strategic value 
and cost-effectiveness of their projected outcomes; and  
o recognizes an organization’s strategic goals cannot be advanced effectively over the 
long term unless its annual budgets are efficient in managing resources in the short-
term. 
 Under corporate planning, the purpose of a budget is not simply to address the next year’s 
operational and capital funding needs. Each year’s budget is also developed with an overall goal 
in mind, namely, ensuring the organization at year end is in a strong financial position to 
continue advancing its long term strategic objectives.  
 This is why corporate planning undertaken by local governments will include reliance on budget 
guidelines.  
o The purpose of budget guidelines is to specify certain financial outcomes a budget 
should deliver at year end.  
o The outcomes will be those the local government has identified are necessary to ensure 
sufficient and stable funding for its operations and projects on an ongoing basis. 
o For local governments, whose o

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