The municipal budgeting process allows council to make decisions about which services will be provided to residents. It also guides council when making decisions about which infrastructure (roads, water, sewer) repairs can be made in a given year. Ultimately, the budget is used to determine if any increases to the property tax rate or user fees will be required.
A municipal budget is a financial plan that details the level of spending required to bring municipal services to the community and to maintain Town assets.The budget process begins in June and culminates with budget presentations by management to Council at open Council meetings in November. Formal adoption of the budget occurs in December for the subsequent year.
Accounting and Audit
The Town Administration Department provides monthly financial reporting to both Council and department managers. The Administration Department, in partnership with the Town’s Auditor, also prepares the annual financial statements.
The Municipal Government Act requires Town Council to appoint an auditor, who cannot be either a Town Councillor or an employee. Accordingly, Town Council has appointed the firm of Wilde and Company, Chartered Accountants as auditors for the Town of Viking. The auditors must report to Council on the annual financial statements. The act also requires that municipal financial statements are prepared in accordance with generally accepted accounting principles for municipal governments as recommended by the Canadian Institute of Chartered Accountants.