Financial plans are driven by the work program priorities identified in the service planning process.
Regional districts are a bit different from other types of government like municipalities. Regional districts can't use revenue from one service to support a different one. Each service has its own set of expenses and funding sources, and they can't spend more than they have in any given year. This means that we keep track of and report on over 200 individual service budgets in the CRD Financial Plan.
The Financial Plan ensures consistency and alignment with the legislative authority of services, and, upon its approval, provides the expenditure authority for all CRD operations. The CRD follows a four-year service and financial planning process to ensure resources are used efficiently and that services effectively meet community needs. Each year, the CRD also prepares audited financial statements in accordance with legislative requirements and presents them at a public Board meeting.