Understanding Lincoln's Budget

Understanding Lincoln's Budget

Planning for & Building a Municipal Budget

The Town of Lincoln provides more than 90 services to the residents of Lincoln. Council and staff must make strategic decisions to balance affordability with service delivery levels and mandated services.

Each year the Town prepares and approves an annual budget to address:

It requires Council’s leadership to find balance between:

  • Service levels
  • Increased cost to deliver services
  • Sustainability and affordability

The budget is:

  • An itemized summary of money coming into the Town and a plan for how that money is going to be spent over a specific time period
  • Provincial legislation requires a balanced budget, money coming in must equal money going out

There are two main components of the budget:

  1. Operating budget
  2. Capital budget

Budget Planning

Budget planning is a year-round activity that includes informal and formal activities.

There are several inputs considered in budget planning:

  • Legislated/Mandated: We need to do it – other funding available
  • Council priorities
  • Support growth or strategic projects
  • Service delivery
  • Public engagement
  • 10-Year Capital Plan: is a forecasting tool to assist with the prioritization of capital projects while not losing sight of competing priorities
  • Asset Management Plan:enables informed decisions regarding the building, operating, maintaining, renewing, replacing and disposing of infrastructure assets
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