The First Quarter Review confirms that final approved budgets have been accurately captured within the financial system and that through a high-level review of actual results to March 31, assists issues and problems identifying so they will be resolved by the end of the year.
The Mid-Year Review includes actual results to June 30 with commentary on work plans and highlights and issues. The focus is on ensuring Divisions will complete their work programs within their approved budgets by the year-end.
The Third Quarter Review is a high-level review (similar to the First Quarter Review) of actual results to September 30. This exercise provides essential information for the next year’s budget process and provides a further opportunity to ensure Divisions are spending within their approved budget.
The Year End Report is a far more formal reporting exercise, meeting the legislative requirements of the Community Charter and the Financial Information Act, and traditional West Vancouver practices. Included in this package are:
- Audited Financial Statements
- Council remuneration and expenses
- Staff remuneration and expenses – for a specified threshold
- Supplier aggregate payments – for a specified threshold
- Report on investment results
For more information, please contact Financial Services.