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2015 - 2017 Fiscal Management Strategy

The Fiscal Management Strategy (FMS) is prepared annually, and presented to the Council of the Regional Municipality of Wood Buffalo (RMWB).

The purpose of the FMS is to provide a high-level overview of the Municipality’s operating and capital needs for the current year and the next two years. The FMS also provides a context for setting property tax rates, user fees and charges and other Municipal service charges.

This document outlines, at a high level, the sources of revenue and anticipated expenses over this time period. Although, the 2015 Budget and the Financial Plans for 2016 and 2017 were approved in December of 2014, the FMS is an avenue to re-evaluate budget assumptions, based on new information that was not available at the time of the budget preparations.

New information that is considered in the 2015-2017 FMS includes: information related to the Municipal Corporate Utility (MCU); Transit Operations performed by the Municipality starting May 22, 2015, and a proposed budget amendment as a result of revenue increase based on updated assessment information which directly impacts the Municipal revenue by way of property taxes.

The FMS is used as a base to build the 2016 Budget and Financial Plans for 2017 and 2018. Due to options included in the FMS, Council is able to provide direction to Administration on what should be considered when developing the budget.

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