The District of Squamish has approved its first-ever 10-year Financial Plan, establishing a decade-long roadmap for taxes, utilities, and infrastructure projects. The plan was adopted at a Special Business Meeting of Council on Jan. 13.
In a press release, the District noted the plan addresses rising costs, facility upgrades, and long-term capital programs while using projections of revenues, expenses, reserves, and debt to ensure financial sustainability.
The Council spent more than 30 hours deliberating the budget, with residents providing input to ensure the plan reflects community priorities. Mayor Armand Hurford said, “The scale of challenges and financial pressures we face as a community made this 10-Year Financial Plan necessary to address the needs of a growing community.”
Squamish is among a small number of B.C. municipalities to adopt such a long-term plan, the press release noted.
Heather Boxrud, General Manager of Financial, Information Technology, and Procurement Services, added that the plan “balances rapid growth with the need to renew aging infrastructure, supports predictable taxation, and maintains reserves to fund the District’s capital program.” The Government Finance Officers Association recommended long-term planning to reduce borrowing and strengthen risk management.
