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2024 budget process begins at upcoming Prescott council meeting

Work is underway on Prescott’s budget for the next year. 

In a report to council, Chief Financial Officer and Treasurer Matt Armstrong has outlined the timeline for 2024’s budget process. 

According to the report, which is being presented to council Monday night, the operating budget will be developed in stages over the course of several months.  

Council will decide on a target range for the property tax rate change beginning on November 20th. Last year’s budget saw a 3.17 percent increase in the property tax rate. 

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The last stage of the development process for the operating budget is expected to end in late February, with a final review of the full budget planned for March 4th. 

Large infrastructure projects are set to be pre-approved in December, so construction tenders can be issued early in the new year for contractors to bid on. 

Afterwards, the town will outline and review other projects to include in the budget before a final review at the March 4th council meeting. 

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