Financial Plan for 2014-2018 Bylaw

CITY OF LANGFORD 
BYLAW NO. 1523 
A BYLAW TO ADOPT A FINANCIAL PLAN FOR 2014 - 2018 
WHEREAS under the Community Charter the municipality must have a financial plan adopted by bylaw before 
the annual property tax bylaw is adopted; 
AND WHEREAS through a public process the financial plan has been presented and the public has had an 
opportunity to comment; 
AND WHEREAS Council deems this to be a process of public consultation as required by the 
Community 
Charter, 
NOW THEREFORE the Council ofthe City of Langford, in open meeting assembled, enacts as follows: 
1. 
Schedule "A" attached hereto and forming part of this bylaw comprises the City of Langford 
Consolidated Five Year Financial Plan for 2014-2018 
2. 
Schedule "B" attached hereto and forming part of this bylaw comprises the City of Langford Revenue 
and Property Tax Policy Disclosure. 
3. This bylaw may be cited for all purposes as "City of Langford 2014-2018 Financial Plan Bylaw No. 1523, 
2014". 
L 

Bylaw No. 1523 
Page 2 of4 
Schedule "A" 
Bylaw No. 1523 
Consolidated Financial Plan 2014-2018 
2014 
2015 
2016 
2017 
2018 
REVENUES: 
External Revenues 
Development Fees 
Development Cost Charges 
Developer Contributions 
Other Capital Contributions 
$ 2,854,200 
3,000,000 
$ 2,407,500 
2,000,000 
$ 1,715,000 $ 1,207,500 $ 1,695,500 
Development Fees Total 
Municipal Property Taxes 
Parcel Taxes 
Fees and Charges 
Interest 
Grants From Other Governments 
Other Sources 
5,854,200 
22,393,100 
1,528,900 
5,345,500 
532,000 
5,982,900 
1,556,400 
4,407,500 
24,878,990 
820,200 
5,568,700 
541,000 
6,146,900 
1,431,600 
1,715,000 
26,226,286 
2,225,000 
5,795,300 
566,000 
2,248,300 
1,556,400 
1,207,500 
27,484,434 
2,175,000 
5,963,500 
574,000 
2,249,700 
1,581,800 
1,695,500 
28,931,184 
2,125,000 
6,031,900 
582,000 
2,251,100 
1,682,300 
Total External Revenues 
43,193,000 
43,794,890 
40,332,286 
41,235,934 
43,298,984 
EXPENDITURES: 
External Expenditures 
Operating 
Operating Expenditures 
Interest Payments on Debt 
Capital Expenditures 
28,083,200 
1,147,000 
21,616,300 
28,981,842 
1,188,836 
17,187,200 
30,766,386 
1,215,000 
7,881,900 
31,852,434 
1,134,200 
6,262,100 
32,930,884 
1,072,800 
8,573,100 
Total External Expenditures 
50,846,500 
47,357,878 
39,863,286 
39,248,734 
42,576,784 
CHANGE IN NET FINANCIAL POSITION 
(7,653,500) 
(3,562,988) 
469,000 
1,987,200 
722,200 
OTHER REVENUES: 
Borrowing Proceeds 
5,500,000 
1,300,000 
800,000 
669,900 
930,400 
OTHER EXPENDITURES: 
Principal Payments on Debt 
2,548,400 
1,411,312 
2,557,800 
2,565,900 
2,723,600 
TOTAL REVENUES LESS EXPENDITURES 
-$ 4,701,900 -$3,674,300 • -$ 1,288,800 
$ 
91,200 -$ 1,071,000 
INTERNAL TRANSFERS: 
Transferfrom Reserve Funds 
Capital Works & Equipment 
Equipment Replacement 
Parks & Open Space 
Park Improvement 
Sidewalk Capital 
Police Building Capital 
General Amenity 
$ 
902,400 
966,400 
1,500,000 
295,000 
25,000 
5,700 
1,496,900 
$ 2,725,000 
884,500 
600,000 
150,000 
5,700 
992,400 
$ 1,452,500 
132,000 
175,000 
150,000 
5,700 
1,021,800 
$ 1,075,500 
101,300 
150,000 
135,000 
497,000 
$ 1,850,000 
95,000 
100,000 
150,000 
1,322,200 
Transferfrom Reserve Fund Total 
5,191,400 
5,357,600 
2,937,000 
1,958,800 
3,517,200 
Less: Transfer to Reserve and Capital Funds 
Reserves: 
Police Building Capital 
Capital Works & Equipment 
Equipment Replacement 
General Capital Fund 
12,900 
896,000 
480,000 
125,000 
26,700 
2,527,900 
550,000 
125,000 
17,200 
1,056,000 
650,000 
125,000 
19,000 
1,356,000 
750,000 
125,000 
15,200 
1,756,000 
750,000 
125,000 
1,513,900 
3,229,600 
1,848,200 
2,250,000 
2,646,200 
Transfers from (to) Surplus 
Transfers from(to) Reserve Accounts 
904,400 
120,000 
1,486,300 
60,000 
200,000 
200,000 
200,000 
TOTAL INTERNAL TRANSFERS 
$ 4,701,900 
$ 3,674,300 $ 1,288,800 -$ 
91,200 
$ 1,071,000 

Bylaw No. 1523 
Page 3 of4 
Schedule "B" 
Bylaw No. 1523 
Revenue and Property Tax Policy Disclosure 
REVENUE DISCLOSURE 
Revenue Proportions 
2014 
2015 
2016 
2017 
2018 
($'000s) 
% 
($'000s) 
% 
($'000s) 
% 
($'000s) 
% 
($'000s) 
% 
Property Taxes 
22,393 
46% 
24,879 
55% 
26,226 
64% 
27,484 
65% 
28,931 
65% 
Parcel Charges 
1,529 
3% 
820 
2% 
2,225 
5% 
2,175 
5% 
2,125 
5% 
Fees 
5,346 
11% 
5,569 
12% 
5,795 
14% 
5,964 
14% 
6,032 
14% 
Other Sources 
13,926 
29% 
12,528 
28% 
6,086 
15% 
5,612 
14% 
6,211 
14% 
Proceeds From 
Borrowing 
5,500 
11% 
1,300 
3% 
800 
2% 
670 
2% 
930 
2% 
48,694 100% 
45,096 100% 
41,132 100% 
41,905 100% 
44,229 100% 
Other Sources includes grants from other governments and agencies, development contributions to capital, interest and 
penalties and miscellaneous sales of services. 
Objectives and Policies 
Property tax revenue is the City's primary revenue source, and one which is heavily reliant on 
the residential class. Diversification of the tax base and generation of non-tax revenue are 
ongoing objectives. Except in extraordinary circumstances, tax increases are kept to cost of 
living or less. 
Parcel Charges are comprised of local area service debt servicing costs for sewers and 
drainage. 
Fees & Charges are a tool used for cost recovery. Various fees are reviewed every 1-5 years to 
ensure that they are adequate to recover costs of providing specific services. 
Other Sources will vary greatly from year to year as it includes such items as: 
• 
Development cost charges used to fund DCC capital projects, 
• 
Contributions from others for capital, 
• 
Interest earned on funds invested in accordance with the City's investment policy, 
• 
Grants, which are sought from other governments and government agencies, often to be 
leveraged with City funds, 
• 
Casino revenue sharing income. 
Proceeds from Borrowing - Debt is used where it makes sense such as for urgent projects or to 
leverage grants where internal funding is not available. Caution is necessary when considering 
debt as it commits future cash flows to debt payments, restricting the ability to use those funds 
to provide other services. The source ofthe debt payments needs to be considered as does the 
justification for advancing the project 

Bylaw No. 1523 
Page 4 of4 
Schedule "B" Continued 
Revenue and Property Tax Disclosure 
PROPERTY TAX DISCLOSURE 
Property Tax Revenue Distribution 
The table below presents tax revenue and tax rates based on the 2014 Revised Assessment 
Roll: 
Property Tax Distribution 
Net Taxable Assessed 
Property Class 
Taxation Revenue 
Value 
Tax Rate 
Multiple 
(Rate/Res. Rate) 
Property Class 
($'000s) 
% 
($'000s) 
% 
($/1000) 
Multiple 
(Rate/Res. Rate) 
1. Residential 
13,344 
60.9% 
4,803,203 
82.39% 
2.7782 
1.00 
2. Utility 
137 
0.6% 
6,688 
0.11% 
20.5587 
7.40 
3. Supportive Housing 
-
0.0% 
-
0.00% 
2.7782 
1.00 
4. Heavy Industry 
-
0.0% 
-
0.00% 
8.9180 
3.21 
5. Light Industry 
169 
0.8% 
18,999 
0.33% 
8.9180 
3.21 
6. Business/Other 
8,219 
37.5% 
986,120 
16.92% 
8.3346 
3.00 
7. Managed Forest 
-
0.0% 
92 
0.00% 
2.7782 
1.00 
8. Rec./Non-Profit 
48 
0.2% 
14,386 
0.25% 
3.3477 
1.20 
9. Farm 
-
0.0% 
132 
0.00% 
2.7782 
1.00 
21,917 
5,829,620 
Objectives and Policies 
Council sets tax rates to maintain tax stability between property classes. Property class multiples are 
reviewed periodically to ensure that the burden of tax among property classes is not distorted by 
differing market value changes between classes. 
Permissive Tax Exemptions 
Policy with respect to permissive tax exemptions under section 224 of the Community Charter is that 
exemption will be considered where the organization has demonstrated proof of community access to 
citizens of Langford at a nominal charge and community benefit in the previous year. 
Council supports the establishment of assisted living seniors' housing in Langford and has granted 10-
year exemptions to two such developments. 
Council has established a revitalization tax exemption program under section 226 ofthe 
Community Charter which grants a five-year or 10-year exemption for eligible buildings. 
Exemption certificates were issued for two properties in 2009 for which the exemptions expire in 
2014 and one property in 2011 for which the exemption expires in 2021