Financial Plan for 2024-2028 Bylaw

MAYOR 
KEITH YACUCHA 
ACTING MAYOR 
CITY OF LANGFORD 
BYLAW NO. 2167 
A BYLAW TO ADOPT A FINANCIAL PLAN FOR 2024 - 2028 
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 of the 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 2024 - 2028. 
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 2024-2028 Financial Plan Bylaw No. 2167, 
2024". 
READ A FIRST 1-imE this 15th day of April, 2024. 
READ A SECOND TIME this 15th day of April, 2024. 
READ A THIRD TIME this 15th day of April, 2024. 
ADOPTED this 6th day of May, 2024. 
(Certified Correct) 
CORPORATE OFFICER 
Marie Watrtiough 
Corporate Officer 

Consolidated 
REVENUES: 
External Revenues 
Bylaw No. 
Financial 
2024 
2167 
Plan 2024-2028 
2025 
2026 
20:7 
Schedule "A" 
2028 
Development Cost Charges 
$ 6,477,884 
$ 4,850,000 
$ 1,100,000 
$ 1,100,000 
$ 
2,600,000 
Developer Contributions 
5,139,977 
Other Capital Contributions 
Municipal PropertyTaxes 
53,922,397 
61,573,035 
67,392,971 
73,585,427 
78,129,348 
Grants in Lieu 
192,000 
196,000 
200,000 
204,000 
208,000 
Utility Taxes 
537,353 
602,341 
627,732 
654,711 
683,402 
Parcel Taxes 
4,313,438 
4,313,438 
4,313,438 
4,313,438 
4,313,438 
Fees and Charges 
3,843,700 
3,707,300 
3,619,900 
3,632,500 
3,645,100 
Interest 
750,000 
600,000 
500,000 
500,000 
500,000 
Grants From Other Governments 
4,059,761 
1,337,544 
1,302,158 
1,305,181 
1,308,294 
Other Sources 
10,537,790 
10,560,344 
10,578,285 
10,481,494 
10,481,017 
Total External Revenues 
89,774 300 
87,740 002 
89 634 484 
95 776 751 
101,868,599 
EXPENDITURES: 
External Expenditures 
Operating Expenditures 
69,009,600 
71,769,277 
75,412,154 
78,760,039 
84,137,816 
Interest Payments on Debt 
2,462,250 
2,447,250 
2,427,250 
2,427,250 
2,427,250 
Capital Expenditures 
112,427,076 
14,540,000 
7,031,000 
5,231,000 
6,271,000 
Total External Expenditures 
183,898,926 
88,756,527 
84,870,404 
86,418,289 
92,836,066 
CHANGE IN NET FINANCIAL POSITION 
(94,124,626) 
(1,016,525) 
4,764,080 
9,358,462 
9,032,533 
OTHER REVENUES: 
Borrowing Proceeds 
88,518,040 
5,500,000 
2,700,000 
2,000,000 
2,000,000 
OTHER EXPENDITURES: 
Principal Payments on Debt 
5,609,211 
5,907,211 
6,799 475 
7,769,378 
6,885,260 
TOTAL REVENUES LESS EXPENDITURES 
-$ 11,215,797 -$1,423,736 
$ 
664,605 
$3,589,084 
$ 
4,147,273 
INTERNAL TRANSFERS: 
Transfer from Reserve Funds 
Affordable Housing 
989,000 
347,290 
270,695 
273,716 
276,827 
Capital Works &Equipment 
3,497,000 
1,600,000 
1,350,000 
1,350,000 
1,325,000 
Equipment Replacement 
753,200 
435,200 
1,818,700 
741,200 
204,900 
Parks &Open Space 
- 
- 
Park Improvement 
Sidewalk Capital 
- 
- 
Police Building Capital 
96,000 
96,000 
96,000 
96,000 
96,000 
General Capital Fund 
120,000 
120,000 
120,000 
120,000 
120,000 
General Operating 
1,412,410 
- 
General Amenity 
5,332,908 
2,975,000 
800,000 
800,000 
800,000 
Transfer from Reserve Fund Total 
12,200,518 
5,573,490 
4,455,395 
3,380,916 
2,822,727 
Less:Transfer to Reserve and Capital Funds 
Reserves: 
Police Building Capital 
100,000 
100,000 
100,000 
100,000 
100,000 
Capital Works & Equipment 
1,405,000 
1,405,000 
1,405,000 
1,405,000 
1,405,000 
Equipment Replacement 
1,000,000 
1,000,000 
1,000,000 
1,000,000 
1,000,000 
Parking Reserve 
Police Special 
General Amenity 
Infrastructure Sustainability 
General Capital Fund 
2,162,410 
2,000,000 
2,900,000 
4,750,000 
4,750,000 
4,667,410 
4,505,000 
5,405,000 
7,255,000 
7,255,000 
Transfers from(to) Surplus 
3,437,772 
285,000 
285,000 
285,000 
285,000 
Transfers from(to) Reserve Accounts 
244,917 
70,246 
TOTAL INTERNAL TRANSFERS 
$ 11,215,797 
$ 1,423,736 -$ 
664,605 
$3,589,084 
4,147,273 
Bylaw No. 2167 
Page 2 of 4 

Bylaw No. 2167 
Page 3 of 4 
Schedule "B" 
Bylaw No. 2167 
Revenue and Property Tax Policy Distclosure 
REVENUE DISCLOSURE 
Revenue Proportions 
2024 
2025 
2026 
2027 
2028 
($'000s) 
% 
($'000s) 
% 
($'000s), 
% 
($'000s) 
% 
($'000s) 
% 
Property Taxes 
53,922 
30% r 
61,573 
70% r 
67,393 
74% 
73,585 
74% 
78,129 
77% 
Parcel Taxes 
4,313 
2%' 
4,313 
5%' 
4,313 
5%' 
4,313 
4%' 
4,313 
4% 
Fees 
3,844 
2% ,' 
3,707 
4%' 
3,620, 
4%' 
3,633 
4%' 
3,645 
4% 
Other Sources 
27,695 
16%r 
13,297 
15%' 
13,208 
14% 
13,144r 
15% 
13,181 
13% 
Proceeds From 
' 
r
 
r 
Borrowing 
88,518 
50% 
5,500 
6% 
2,700' 
3% 
2,000 
2% 
2,000' 
2% 
178,292 
100% 
88,391, 100%, 
91,234 
100% 
96,676 
99% 
101,269 
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 roads. 
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 of the debt payments needs to be considered as does the 
justification for advancing the project 

Bylaw No. 2167 
Page 4 of 4 
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 2024 Revised Assessment Roll: 
Property Tax Distribution 
Property Class 
Taxation Revenue 
Net Taxable Assessed 
Value 
Tax Rate 
Multiple 
($'000s) 
($'000s) 
`)/0 
($/1000) (Rate/Res. Rate) 
1.Residential 
38,973 
72.3% 
16,164,203 
87.73% 
2.4111 
1.00 
2. Utility 
188 
0.3% 
10,326 
0.06% 
18.1911 
7.54 
4. Heavy Industry 
- 
0.0% 
- 
0.00% 
7.7394 
3.21 
5. Light Industry 
489 
0.9% 
69,812 
0.38% 
7.0013 
2.90 
6. Business/Other 
14,214 
26.4% 
2,162,482 
11.73% 
6.5736 
2.73 
7. Managed Forest 
1 
0.0% 
346 
0.00% 
2.6849 
1.11 
8. Rec./Non-Profit 
57 
0.1% 
20,503 
0.11% 
2.7799 
1.15 
9. Farm 
0 
0.0% 
154 
0.00% 
2.4110 
1.00 
53,922 
18,427,826 
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 three such developments. 
Council has established a revitalization tax exemption program under section 226 of the 
Community Charter which grants an exemption for eligible buildings for up to 10 years. An 
exemption certificate was issued for one property in 2021 for which the exemption expires in 
2028.