Priority: Continue to seek opportunities for infrastructure grants and fiscal prudence.
Action: Increase community input into budget planning.
I am proud of the way this Council has planned and managed challenging and costly projects.
We’ve acquired 3 million in grant money for shovel ready projects to renovate our rec centres, build bike lanes, and pay for environmental and infrastructure projects. Our reserves and cash are substantial ($45 M), our debt is low ($4 M), and, according to the Municipal Finance Authority, we are well poised to borrow money to help pay for infrastructure deficits, if we so choose. This year Council committed to conservation of water. Conservation of water will prolong the use of the current water shed thus mitigating costs for current and future generations. To incentivize water conservation Council agreed to keep the sewer cost capital charges on the water bill rather than on the tax bill. This user-pay strategy incentivizes reduction of water use as it is tied to a reduction of the sewer cost charges.
One of our most significant expenses over the coming years will be infrastructure renewal. See my post on Renewing Oak Bay’s Infrastructure.