Essex Adopts 5-Year Financial Plan
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Essex Town Council has adopted a financial plan that is expected to create greater efficiencies in budget preparation and delivery of services.
The plan includes the 2017 Budget adopted in March and the 2018 to 2021 Forecast.
“This document is the result of a year of review and planning by all municipal departments,” says Jeffrey Morrison, Acting Director, Finance and Business Services. “Our intention was to look at long-term goals and to create a well-planned and predictable approach to achieving them financially.”
The 5-Year Financial Plan takes into account and ties together objectives and recommendations outlined in the Town’s Development Charge Background Study, Water Wastewater Study, and Asset Management Plan.
This initiative is in line with Council’s strategic objective of managing the Town’s finances and human resources in a responsible manner.
“This project supports Council’s Strategic Plan by aiming to ensure financial stability and predictability while also working towards reducing overall debt by the end of Council’s term,” says Donna Hunter, Interim Chief Administrative Officer.