Between November 15 and December 31 of each year, Council must prepare and adopt the budget of the municipality for the next fiscal year that begins on January 1st. It must present a balanced budget that provides for at least revenues equal to or greater than expenses in order to comply with section 474 of the Cities and Towns Act.
The financial information contained in the Municipal Estimates Report must comply with Ministry of Municipal Affairs and Land Occupancy (MAMOT) standards.
However, in 2017, the government removed the “Budget Forecasts” form to include it in the financial report. For example, you will find only the annual presentation that was made at the special meeting that includes the budget presentation and the three-year capital program and, following the tabling of the financial report, an excerpt from the portion of the estimates.