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Budgets & Finance

2022 Resort Village of Candle Lake Budget

2022 Budget Package 

2022 Budget Presentation

2021 Resort Village of Candle Lake Budget 

2021 Budget Package

2021 Budget Highlights 

Audited Financial Statements 

Audited Financial Statement for 2021 (coming soon!)

Audited Financial Statement for 2020

Audited Financial Statements for 2019

Audited Financial Statements for 2018

Audited Financial Statements for 2017

Audited Financial Statements for 2016

For Audited Financial Statements prior to 2016,  please contact the Resort Village Office at (306) 929-2236 or info@candlelake.ca.

The Budget Process 

Like all Saskatchewan municipalities, the Resort Village of Candle Lake must follow provincial legislation when developing and approving its budget. Council must adopt an operating budget and a capital budget for each financial year. Tax levies may not be authorized by Council unless it has adopted the operating budget and the capital budget for that year. 

The Operating Budget 

The operating budget includes the estimated amounts required to operate the municipality, pay all debt obligations, meet the sums the municipality is required, by law, to raise by levying taxes or other amounts that the municipality is required to pay. The budget must also include the amounts to be transferred to reserves, to capital, and to acquire, construct, remove or improve capital property.  Finally, it must include the amount of any operating deficit incurred in the previous financial year.  

The operating budget also includes the estimated amount of revenues from each of its sources of revenue and transfers. These must be at least sufficient to pay the estimated expenditures and transfers.

The Capital Budget 

A capital budget, also called a “capital works plan” may be prepared and adopted by Council for a period of not less than five years, including the current year. This budget shows the estimated capital cost of and the proposed sources of financing for each capital work for each year of the plan. 

The Budget Process & Planning 

Each year in fall, the Finance Manager begins working on the budget for the following year. This includes gathering information and data for the past year and future plans from the management team.  

A number of planning sessions are held to develop and finalize the budget. At these meetings, potential major operational and capital projects are considered, the value of these projects are identified by department managers, village committees and through input from the community. Council identifies the priority projects to be included and costed in the preliminary draft budget. 

 A preliminary budget is then presented to Council. The budget includes projected revenues and proposed expenses. 

Additional budget discussions may be held at Special Council Meetings if required, and a final budget if then prepared and presented to Council. The budget is typically approved by late March/early April each year.