BUDGET & FINANCES
The Town of Regina Beach is a municipal government corporation that provides a wide range of services to its residents. Every year the Town develops a new budget under the direction of Council’s strategic priorities and what we have heard from our residents over time. The annual budget indicates the Town’s priorities, projected revenue and costs, and plans for the future; and provides a roadmap for our Town and ensures that Council and administration stay focused on what matters most to our residents, value for their taxes and continuing to enhance our quality of life.
Development of the annual budget is more than just number crunching; the budget reflects a strategic plan and its conception should consider the needs and priorities of all stakeholders, from government administration and employees to residents and business leaders. No municipality has an unlimited budget. This means every municipality has to carefully consider their limited resources and how to allocate them properly. Even when the budget only extends through the fiscal year, thought has to go into the future when creating it. That way, consideration will take place on how to budget for important projects that aren’t right in front of us but will eventually require funding.
The development, approval, and implementation of a municipal budget are all critical steps of the budget process. After much planning and deliberation, administration presents Council with a proposed annual budget with a recommendation for approval. Once approved, the budget for the fiscal year is enacted by Council and administration may make expenditures which are included in the operating or capital budget. Administration’s duties include monitoring expenditures and ensuring that funds are spent as intended. Council is then presented with monthly reports on actual revenue and expenses. Any amendment to an adopted budget, outside of municipal policies, shall be enacted by a resolution of Council.
Transparency and communication are a top priority for Council, and they strive to ensure a fiscally responsible budget while still providing high quality services to our residents.
AUDITED FINANCIAL STATEMENTS
Saskatchewan’s municipalities must prepare their financial statements in accordance with Canadian Public Sector Accounting Standards as recommended by the Chartered Professional Accountants of Canada (CPA Canada). Every municipal auditor in the Province of Saskatchewan must follow the CPA Canada Handbook - Assurance while conducting the audit. The Municipalities Act requires each municipality to submit a copy of its annual audited financial statement and auditors report to Government Relations.
Click HERE for information on the Municipal Audit Guidelines
Statements of Financial Position & Operations