Long Range Financial Planning

The City of Vaughan is one of the fastest growing cities in Canada. Over the past 10 years the City’s population has increased by almost 60%. Like most high growth municipalities, Vaughan is experiencing the challenges associated with increasing service demands, aging infrastructure and changing regulations. Of particular concern is how to manage Vaughan’s aging infrastructure, which will require significant repair and replacement investment decisions in the near future to ensure they remain operational.

Complimenting the existing multi-year budget process, the Financial Planning & Development Finance Department with the assistance, support, and cooperation of other departments is a Financial Master Plan (FMP). The FMP is meant to articulate Vaughan’s long-term operational and capital funding trends, allowing staff and Council to better understand Vaughan’s future financial requirements. Although not a precise science, the ability to consolidate and summarize key future financial trends and identify long-term implications and their effects on debt service levels, reserves, and the tax rate enables staff to identify issues and test a variety of financial approaches. It also provides a framework in which to develop progressive fiscally prudent policies and strategies, which compliment Vaughan’s vision, initiatives and guide important financial decisions. This information will play an important role in forward planning and is a significant step in managing Vaughan’s future.


The FMP was presented to Council on November 20th 2012, below is a link to the item and final report.


Oct.29, 2012 FMP Item & Final BMA Report

Oct. 29 2012 FMP Presentation by BMA

The City is continuing with this effort and future reports are anticipated for 2013.