GFOABC Dollars & Sense – December 2025 - Issue 133

ISSUE #133 • DECEMBER 2025

INSIDE Development Costs Recovery Updates

Human Side of Municipal Budgets

Training & Events: 2026 Calendar

PRESIDENT’S MESSAGE | CORINNE BOMBEN

INSIDE 2 President’s Message 4 Executive Director’s Message 6 Membership Renewal 8 Training & Events 12 Strategic Financial Leadership Program 14 Balancing Fairness 16 Cash Flow Forecasting 18 Strengthening Municipal Security 20 Collector’s Corner 22 Member Spotlight 24 Our Bonds Build BC 26 The Human Side of Municipal Budgets 28 Strategic Performance Planning 32 Development Costs Recovery 34 Economics, Markets & Trade 36 Navigating Change 38 Financial Reporting Requirements 40 The AI Readiness Gap 42 Digital Transformation 44 Cloud-based Software 46 Local Government Finance Award 48 Online Forum 50 Quarterly Question 52 Call for Newsletter Article Ideas 53 Thank You Exhibitors 54 Thank You Sponsors 2 | DOLLARS & SENSE PERSPECTIVE

AM I READY FOR 2026?

Has anyone seen the English comedy The IT Crowd? The show features a (likable) tech-inept Manager of an IT Department. I like to poke fun at myself because I can relate as the overseer of our local government IT department. I laughed myself to tears the episode where IT gave their Manager the ‘internet’ and all they had done was given her a black box. She proceeded to proudly present it to shareholders who were all appropriately humbled by her possession of such a critical and powerful piece of technology.

I now find myself in the real-life representation of that episodic moment. Artificial intelligence is not completely mystifying, however it is still somewhat beyond my comprehension of how to best employ it and embed it in local government finance. AI provides us one example among many where technology has outpaced the adaptation of the humans around it. Like I’m sure many people do, I simply don’t have the time I believe I need to give the topic my attention.

Although I’m responsible for IT, the culture of financial management in local government moves at a much slower pace. Many of us, especially in smaller municipalities, are still using excel as our budget tool and are trying to one day move to a software

that integrates with our financial management system. Do we even take that step, or do we leap-frog to the next generation and leverage the power AI has to offer? Do I continue to stand in front of my organization holding fast to the old way of doing things because as a profession we take the conservative (or late adopter) approach?

This is certainly a question that is collectively facing our industry of professionals. Looking to the year(s) ahead I am in part excited by the prospects of producing scenarios faster, updating historical information with a few key strokes and further automating some of the more routine tasks our systems have us performing. However, I’m also partly anxious about just how much of our systems should embed AI, and how much more risk we are at in keeping our information, and public money, safe.

If you’re pondering the same questions, feeling the same apprehension, but still curious about the possibilities, know you’re not alone. We are all facing this rapidly changing landscape. In the end, AI is simply another tool presenting yet another opportunity for our members to learn from each other through GFOABCs forum and future webinars, conference programming GFOABC.CA

2025-2026 BOARD OF DIRECTORS

and tradeshow. So rather than turning into the latest version of a technophobe, or trying to give back the ‘black box’, my new year’s professional development resolution is to take advantage of the training opportunities available, do my best to keep an open mind and thoughtfully leverage AI in the processes that make sense. So, ya! I’m ready for 2026 with a little help from my GFOABC friends.

I want to congratulate you on another year of doing such meaningful work, and wish all of you in local government, our mighty staff, and our amazing partners the very best for the new year. May your holiday season now include time to watch the episode I referenced above.

Corinne Bomben, GFOABC President

Teri Fong Alberni-Clayoquot Regional District DIRECTOR AT LARGE

Corinne Bomben City of Prince Rupert PRESIDENT

Kelly Lownsbrough Fraser Valley Regional District VICE PRESIDENT

Charlotte Osborne City of Cranbrook SECRETARY TREASURER

Rianna Lachance District of Oak Bay PAST PRESIDENT

Carla Fox Thompson Nicola Regional District DIRECTOR AT LARGE

Nicole Gervais MFABC DIRECTOR AT LARGE

Elio Iorio District of North Vancouver DIRECTOR AT LARGE

lenora Lee KPMG DIRECTOR AT LARGE

Dave Hallinan City of Kamloops DIRECTOR AT LARGE

Jeffrey Lovell City of Port Coquitlam DIRECTOR AT LARGE

GFOABC STAFF

BOARD OF DIRECTORS

DIRECTORS AT LARGE

Kala Harris, Executive Director

Corinne Bomben, President

Teri Fong, Alberni-Clayoquot Regional District

Matt Holme, Manager, Member Services & Communications

Kelly Lownsbrough, Vice President

Carla Fox, Thompson Nicola Regional District

Otto&Fran / www.ottoandfran.com, Graphic Design Services

Charlotte Osborne, Secretary Treasurer

Dave Hallinan, City of Kamloops

Rianna Lachance, Past President

Lenora Lee, KPMG

DECEMBER | 2025

Nicole Gervais, MFABC Elio Iorio, District of North Vancouver Jeffrey Lovell, City of Port Coquitlam

DOLLARS & SENSE PRESPECTIVE | 3

EXECUTIVE DIRECTOR’S MESSAGE | KALA HARRIS

LEANING IN ON COMMUNITY As I look back on 2025, what stands out most are the moments of connection—those conversations in hallways, shared reflections during sessions, and the generosity with which our members support one another. Whether at the Annual Conference, Boot Camp, workshops, or our Fall PD program, this year reinforced something I believe deeply: our members are at the centre of everything we do.

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What I love about this community is that the learning doesn’t only happen from the front of the room. It happens member-to-member through shared stories, informational peer coaching, and candid conversations about real challenges. It happens partner-to-member through expertise, resources, and a willingness to help strengthen our sector. And it happens member-toGFOABC, where your feedback, curiosity, and engagement shape the programs we build and the direction we take as an Association.

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KALA HARRIS | EXECUTIVE DIRECTOR’S MESSAGE

This year’s programming—across every major event— was a reflection of that collective leadership. The continued integration of the Leadership Competency Framework reminded us that leadership isn’t a title; it’s a practice we develop together. Boot Camp case studies, conference plenaries, and national sessions all pointed to the same truth: the strength of this association and the profession that it supports comes from how everyone shows up for each other.

I am deeply grateful for the Board members, facilitators, and partners who offered their time, insight, and professional capital throughout the year. But above all, I am grateful for our members—for bringing energy, curiosity, honesty, and gratitude to the spaces that we created together. You make this work meaningful.

LOOKING AHEAD TO THE NEW YEAR As we turn toward 2026, I’m excited about the year ahead and the opportunities it brings for our community.

Membership renewal season is underway, and I want to express how much we appreciate your continued commitment to GFOABC. Your membership is more than a transaction—it’s a shared investment in strengthening local government finance across B.C. Every renewal sustains the programs, resources, and collective learning spaces that support you and your colleagues throughout the year.

Thank you for the trust you place in us and for the leadership you bring to your organizations and communities every day. I look forward to welcoming you into another year of learning, connection, and shared purpose.

“TO EVERYONE WHO PARTICIPATED IN OUR PROGRAMS, SHARED STORIES, CONTRIBUTED EXPERTISE, OR SIMPLY SHOWED UP WITH HONESTY AND CURIOSITY—THANK YOU. YOUR ENGAGEMENT IS THE HEARTBEAT OF GFOABC, AND BECAUSE OF YOU, 2025 WAS A YEAR DEFINED BY CONNECTION, COLLABORATION, AND COLLECTIVE LEADERSHIP. WE ARE GRATEFUL FOR ALL YOU BRING AND EXCITED FOR THE YEAR AHEAD.” Thank you to the many members and partners who contributed to workshops, case studies, sessions, and peer-learning activities throughout 2025. Your leadership makes our work possible.

Kala Harris, Executive Director

We are also preparing a full slate of programming for 2026, building on the momentum of this past year. You’ll see continued integration of the Leadership Competency Framework, new workshops that blend technical learning with applied leadership, and more opportunities for member-to-member and partner-to-member engagement. From case-based sessions to webinars, Boot Camp, and our 2026 Annual Conference in Kelowna, our focus remains on creating meaningful, practical, and connected learning experiences.

DECEMBER | 2025

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INVESTING IN WHAT MATTERS TO OUR MEMBERS—TOGETHER On behalf of the GFOABC Board and staff, thank you for your participation and engagement in our programs, events, and member benefits over the past year. Your involvement — through the Annual Conference, Boot Camp, and the Online Forum — continues to strengthen our community of local government finance professionals across British Columbia.

Together, we’ve built a community that continues to grow — 62% since 2017 — a testament to the shared belief in member-to-member connection, continuous learning, and leadership development that form the foundation of GFOABC’s mission.

This growth is made possible by our commitment to continuously enhance the programs and benefits that deliver value for our members. Three ways we’re doing this are outlined below:

COMMITTING TO A HYBRID CONFERENCE MODEL Since shifting to a hybrid format, participation in our premier event has more than doubled. While nothing replaces the energy of in-person networking, the virtual option remains a flexible and cost-effective way for members to engage and earn continuing professional development hours. Next year’s Kelowna Conference will again offer both in-person and virtual attendance options and will feature member-to-member case study sessions that leverage the collective expertise of our members to address key sector challenges — ERP transformation, long-term financial and capital planning, and intergenerational equity and asset management — culminating in a province-wide dialogue on housing.

LEVELING UP OUR FLAGSHIP BOOT CAMP PROGRAM Boot Camp continues to evolve as the foundation for early-career and emerging finance leaders. This year, we integrated the Leadership Competency Framework, linking technical skills, legislation, and leadership practice to real-world decision-making. Building on that success, we will deepen this approach in 2026 — helping 6 | DOLLARS & SENSE PERSPECTIVE

participants strengthen their leadership impact within their organizations, no matter their role. An updated Boot Camp Toolkit is in development to reflect the enhancements made this year. Our goal is to ensure Boot Camp continues to evolve to meet the labour market challenges facing the local government finance sector through a member-to-member community-of-practice approach.

DEMONSTRATING THE VALUE OF THE ONLINE FORUM AS A TRUSTED SPACE The Online Forum remains GFOABC’s dedicated space for member-to-member knowledge sharing — where finance professionals exchange ideas, discuss challenges, and seek solutions to day-to-day issues. With a new platform in place, we’re focused on helping members to see the value of embedding the Forum into their regular workflow as a trusted, go-to space for real-time problem-solving across the province. From helping new members navigate their entry into the local government sector to enabling seasoned professionals to share what has worked in their communities, the Forum provides a foundation of collective knowledge that equips members with practical next steps. Over the coming year, we’ll continue to enhance this platform to support deeper engagement, more accessible discussions, and meaningful peer connections.

Each of these investments — in learning, leadership, and connection — reflects our ongoing commitment to supporting you and strengthening the profession as a whole.

Membership renewal opens November 24, 2025!!!!

With appreciation, Kala Harris, Executive Director

GFOABC.CA

BENEFITS OF MEMBERSHIP

OUR FOCUS

For over 35 years, the Government Finance Officers Association of British Columbia (GFOABC) has been the professional association for local government finance officers and their teams in BC. GFOABC provides: • Member-discounted webinars, workshops, and annual conferences with over 100 hours of continuing professional development.

• Access to a member-only secure Online Forum, a valuable reference, communication, and collaboration tool for local government finance professionals.

Members can also earn continuing professional development by serving on a committee or on the Board of Directors, facilitating workshops, or presenting a session at the annual conference.

YOUR ORGANIZATIONAL MEMBERSHIP (Municipalities, Regional Districts and Improvement Districts or Other Districts)

Members are financial professionals employed by municipal, regional districts, or related governments.

From accounting clerks to chief financial officers, their roles include a combination of administration and financial management.

• To provide programming that considers the full breadth of the roles and responsibilities of local government financial professionals and the diversity of experience.

• To leverage the experience and expertise of our members, government, and partners in building dialogue on local government financial matters.

• To encourage cross-partnership opportunities that leverage partner resources, training, and reputation within the association to benefit members and partners.

MEMBER TYPES (Voting Members and Non-Voting Members)

Each organizational membership consists of voting and non-voting members.

• Voting members are entitled to vote on memberrelated issues such as the annual election for the Board of Directors, approval of financial statements, and bylaws.

• Non-voting members are entitled to all membership benefits but do not vote on member-related issues.

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DECEMBER | 2025

MEMBERSHIP RENEWAL PROCESS Membership renewal opened November 24. Your organization’s GFOABC primary contact received an email on December 1 with instructions for membership renewal. Please contact us if you have not received your membership renewal.

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2026 TRAINING & EVENTS

ANNUAL CONFERENCE

ANNUAL CONFERENCE AND AGM

PRE-CONFERENCE WORKSHOPS

Wednesday, May 27, 2026 – Friday, May 29, 2026

Monday, May 25, 2026 – Tuesday, May 26, 2026

The 2026 Annual Conference will take place at the Delta Hotels Grand Okanagan Resort in Kelowna. The conference will address the dual challenges of affordability and a widening infrastructure gap. Through keynote presentations, panel discussions, and interactive sessions, participants will explore how finance leaders can approach affordability and infrastructure challenges with innovation and resilience.

Pre-Conference Workshops are offered in-person and separately from the Annual Conference. These workshops offer a fantastic opportunity for further professional development, and to explore a specific local government finance topic in-depth. Past PreConference Workshop topics include development cost charges, municipal property tax sales and a session dedicated to regional district topics.

MORE INFORMATION DELTA HOTELS GRAND OKANAGAN RESORT, 1310 WATER ST, KELOWNA, BC

FALL PD

SPRING PD

PROPERTY TAX 101 WORKSHOP

FALL PD

Tuesday, April 7, 2026 Tuesday, April 14, 2026 Tuesday, April 21, 2026

November 24-25, 2026

Property Tax is the single largest source of local government revenue. Learn more about property tax collection through this three-part virtual workshop.

All sessions run from 9:00 am to 11:30 am

The annual Fall PD Workshops take place in Vancouver every November. These in-person, full-day workshops cover a breadth of local government finance topics and are an opportunity to network with peers one last time before the end of the year. Past sessions include Financial Reporting, Budgeting Best Practices, and Ethics and Leadership.

MORE INFORMATION

MORE INFORMATION

VIRTUAL

COAST COAL HARBOUR HOTEL, 1180 WEST HASTINGS STREET, VANCOUVER, BC

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GFOABC.CA

2026 TRAINING & EVENTS

BOOT CAMP

BOOT CAMP FINANCE OFFICERS DEVELOPMENT PROGRAM Monday, August 10, 2026 - Friday, August 14, 2026 Boot Camp is our flagship residential program. Grounded in the legislation that guides the role of the financial officer and the Leadership Competency Framework (LCF), it helps participants connect statutory responsibilities with the leadership behaviours needed to guide teams and influence decisions. Each participant receives the Boot Camp Toolkit — a comprehensive binder of templates, legislative references, and leadership resources to support continued growth as confident, capable financial leaders.

MORE INFORMATION UNIVERSITY OF VICTORIA

STRATEGIC FINANCIAL LEADERSHIP

STRATEGIC FINANCIAL LEADERSHIP This cohort-based program is a blend of in-person workshops, virtual meetings, one-on-one executive coaching, self-guided learning , and collaboration – helping participants develop leadership competencies, build relationships, and make a bigger impact on their organization.

MORE INFORMATION VANCOUVER

DECEMBER | 2025

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2026 TRAINING & EVENTS

WEBINAR

PROPERTY TAXATION AND ASSESSMENT MONTH WEBINAR

ANNUAL MUNICIPAL TAX SALE WORKSHOP WEBINAR

The third Wednesday of the month in 2026

Tuesday, September 1, 15 and 29, 2026

This webinar is offered in a “once-a-month” format where each session deals with aspects of taxation that are topical for that month. The objective of this webinar series is to provide participants with a comprehensive overview of municipal finance issues with a focus on providing “real-life”, practical information that can immediately be applied in a municipal setting.

The Annual Municipal Tax Sale Workshop Webinar Series is an online three-part workshop offered just before, during and after the tax sale date. Selling a person’s property at Tax Sale is a big responsibility and includes an element of risk to the municipality. This webinar series will be of interest to all finance officers who want to know the details of Tax Sale. Material has been updated to reflect legislative changes in 2025.

MORE INFORMATION

MORE INFORMATION VIRTUAL

WORKSHOP

PROCUREMENT TOOLKIT WORKSHOP & TOOLKIT REFRESH – MATERIALS AVAILABLE FOR PURCHASE The Procurement Workshop & Toolkit Refresh took place in March 2025 and was designed to provide local government staff and stakeholders with the skills and knowledge to navigate procurement process effectively. It provided practical tools such as sample bylaws, policies, forms and procedures to assist local governments in the procurement practices.

If you missed the workshop, recordings of the four (4) sessions, the Procurement Toolkit, templates and a glossary of terms are available for purchase.

MORE INFORMATION AVAILABLE FOR PURCHASE VIRTUAL

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2026 TRAINING & EVENTS

FORUM

ACCOUNTING & AUDITING FORUM

COLLECTORS’ FORUM

The Accounting & Auditing Forum webinar allows members to learn more about new and changing public sector accounting standards, understand their impact, and hear directly from audit firm partners and standards-setter presenters. The next Accounting & Auditing Forum takes place January 15, 2026, and features presentations from PSAB and KPMG.

The Collectors’ Forum webinar series allows municipal tax collectors from across the province to exchange information, discuss current issues, and collaborate with our local government associations and provincial ministry partners on property taxation and assessment matters.

MORE INFORMATION

MORE INFORMATION

PROCUREMENT FORUM Originally scheduled for fall 2025, the final Procurement Forum will take place on January 7, 2026. The topic will be social procurement and will include a mix of member participation and external presentations.

Representatives from the City Courtenay, City of Pemberton, and Buy Social Canada will discuss questions like: • Why should these things matter to local governments?

• What are the benefits?

• What can we implement without significant resource allocations?

• How can we, and our consultants, further our social procurement and/or indigenous procurement objectives in documents and contracts?

The session will be hosted by Cris Munro from CM2 Ventures.

MORE INFORMATION VIRTUAL, COMPLIMENTARY FOR MEMBERS VIRTUAL, COMPLIMENTARY FOR MEMBERS

DECEMBER | 2025

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STRATEGIC FINANCIAL LEADERSHIP PROGRAM | NORAMAY ISSAC

INVESTING IN GROWTH:

MY JOURNEY THROUGH THE STRATEGIC FINANCIAL LEADERSHIP PROGRAM OVER THE PAST YEAR, I’VE HAD THE PRIVILEGE OF PARTICIPATING IN THE STRATEGIC FINANCIAL LEADERSHIP (SFL) PROGRAM THROUGH GFOABC; A COMPREHENSIVE, ONE-YEAR PROFESSIONAL DEVELOPMENT PROGRAM THAT HAS SIGNIFICANTLY SHAPED MY PERSPECTIVE ON LEADERSHIP AND FINANCIAL MANAGEMENT IN LOCAL GOVERNMENT.

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It was a privilege not only because of the financial investment involved, but also because of the trust placed in me to fully engage with and apply the program’s teachings.

From the outset, I felt genuinely supported by the District of Port Hardy’s Council and CAO, whose commitment to staff development is both clear and inspiring. Their encouragement to pursue continuous learning has strengthened my professional growth but also deepened my respect for the District’s dedication to empowering its employees. Knowing that leadership values education and professional advancement made this experience particularly meaningful.

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The District’s focus on professional growth also plays a crucial role in employee retention, helping us build resilient teams committed to serving the North Island. Having lived on the North Island for 45 years, I ’ve seen many young people leave the region to pursue career opportunities. That’s why investment in internal career development is so important. Let’s encourage our staff to grow within the organization so they can continue contributing to the community they call home.

I am truly thankful to be part of an organization that recognizes the importance of empowering employees through continuous learning and leadership development. The support I’ve received has reinforced my belief that when an organization invests in its people, it benefits everyone from staff members and elected officials to the broader community we serve.

The SFL program challenged me to think more strategically, refine my communication skills, and cultivate leadership qualities that go beyond financial expertise.

I learned that true leadership isn’t just about titles, it’s about inspiring collaboration, navigating challenges, and serving our community with purpose.

One of the most rewarding aspects has been applying these lessons in my day-to-day work and sharing new approaches with colleagues. For example, starting my oneon-one meetings with “are you above the line or below the line”, or using tools like the Mood Meter has opened the door to more supportive and authentic conversations.

I am passionate about mentorship and collaborative learning, and I believe that investing in education uplifts individuals and strengthens the whole organization. I believe that when staff feel supported and appreciated, it boosts motivation, loyalty, and a shared sense of purpose.

DECEMBER | 2025

Heather Nelson-Smith, CAO for the District of Port Hardy, shares: “We are incredibly proud of Noramay’s accomplishments and her dedication to ongoing learning.

Supporting our staff’s professional growth strengthens individual capabilities and organizational capacity. When we invest in our employees, we build a culture of loyalty, leadership, and community impact that benefits us all.”

NORAMAY ISSAC is the Director of Finance at the

District of Port Hardy.

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MEMBER ARTICLE | LORRAINE KUZYK

BALANCING FAIRNESS AND INFLUENCE IN RFP EVALUATIONS AT THE GFOABC PROCUREMENT FORUM ON SEPTEMBER 24, I HAD THE OPPORTUNITY TO JOIN CRIS MUNRO FROM CM2 VENTURES FOR A PANEL DISCUSSION ON TWO KEY TOPICS: HOW TO EVALUATE SUBMISSIONS RECEIVED FROM REQUEST FOR PROPOSALS (RFP) , AND HOW TO BALANCE FAIRNESS WHEN UNDUE INFLUENCE SHOWS UP IN EVALUATION TEAMS.

The conversation reaffirmed just how much skill and structure it takes to run a fair procurement. Key themes emerged that I think are worth highlighting for those participating in procurement processes in local government finance.

1. THE BIGGEST CHALLENGE IN SETTING UP AN EVALUATION The biggest challenge, in my view, is making sure everyone has a holistic understanding at beginning of the process. There needs to be an understanding of what we are buying, the pricing structure, and what we are evaluating. Don’t rush to develop the evaluation methodology (low bid or high score) before clarifying the outcome we want.

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I once worked on an RFP that had a mix of products and services. Early on, some members of the evaluation team who were working on the draft of the deliverables felt only one company could win. Something didn’t feel right, so I brought the team together to unpack what we were really trying to buy. That’s when someone mentioned a mobile repair van that could service equipment — a key piece we hadn’t defined in the document. Once we reworked the RFP to reflect that, it opened the door for other companies to compete fairly. The lesson? Alignment and clarity at the outset prevent confusion and possible bias later in the process.

2. MANAGING UNDUE INFLUENCE In every organization, you may find individuals — often senior leaders — who want to “help” shape the outcome with or without being part of the evaluation team. I always assume that they have best intentions, but undue influence at evaluation could compromise fairness if it’s not addressed early.

4. TIPS AND TRICKS FOR STRONG EVALUATIONS A few lessons that consistently lead to success: • Plan the entire procurement process before you start — from what you are buying, the pricing structure, what you will evaluate, and how you will debrief.

• Clarify what is being evaluated and why. Alignment of the evaluation team to the wording in the RFP is important.

• Train evaluators and ensure they’re comfortable with the evaluation criteria and rating scale.

• Trust your gut. If something in the document or process doesn’t feel transparent, pause and fix it before release.

• Think about debriefing early. You’ll want to clearly explain decisions to suppliers afterward.

In the end, good procurement isn’t just about compliance — it’s about trust, fairness, and getting the right outcome for the community.

When I sense that an individual wants to have the final say, I try to understand the “why” and approach with curiosity. For example, is it about ensuring that we hire an experienced supplier? If so, we can often address concerns by clearly indicating in the “what we are buying” and “what we are evaluating” instead of tainting the process. Evaluators should never be pressured to change their scores to match someone else’s opinion. Each person must be able to stand behind their individual evaluation.

Procurement integrity depends on that independence.

3. SHARING A GREAT EXPERIENCE One of my best experiences was when a department initially wanted to proceed with a direct award, believing they already knew the best supplier. We took the time to test that assumption and issued an open RFP instead.

Another company ultimately won — and the department was thrilled. It reinforced for everyone that the goal isn’t to reward familiarity, but to achieve best value through a transparent, competitive process.

DECEMBER | 2025

LORRAINE KUZYK is the Manager of Strategic

Procurement for the District of Saanich. She believes her education and career in Engineering set the foundation for certification in Supply Chain Management. She uses systems thinking to support and enable departments to get deliverables that deliver best value for public money. .

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MEMBER ARTICLE | ANDREW HOGE

CASH FLOW FORECASTING:

TURNING INSIGHT INTO ACTION FOR BC LOCAL GOVERNMENTS ACROSS BRITISH COLUMBIA, LOCAL GOVERNMENTS MANAGE MORE THAN $24.5 BILLION IN RESERVES AND SURPLUS FUNDS. THIS RESPONSIBILITY CREATES BOTH A SIGNIFICANT PUBLIC TRUST AND AN OPPORTUNITY TO STRENGTHEN FINANCIAL RESILIENCE, OPTIMIZE INVESTMENT RETURNS, AND REDUCE BORROWING COSTS. ONE OF THE MOST PRACTICAL - YET OFTEN UNDERUSED - TOOLS TO SUPPORT THESE GOALS IS A ROBUST CASH FLOW FORECAST. Cash flow forecasting is not an exercise in precision. It is a planning discipline: understanding what is coming in, what is going out, and when. Even a simple, well-structured forecast provides the visibility needed for confident operational and treasury decisions.

WHY CASH FLOW FORECASTING MATTERS The purpose of a forecast is straightforward: align liquidity with organizational needs.

Predictable inflows - requisitions, user fees, and investment income - form the foundation of operating cash. Yet significant variability still occurs. In decentralized local governments, unanticipated cash demands are common: accelerated capital work, late vendor invoices, grant timing shifts, or sudden land acquisition opportunities can all disrupt normal patterns.

Without an established forward plan that can absorb new information and unexpected cash movements, this volatility can lead to high-cost borrowing, sub-optimal investment terms, or, in extreme cases, forced sales of long-term investments.

A strong forecast ensures liquidity is available when required while enabling organizations to lock in higheryield investment terms during surplus months.

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GFOABC.CA

DIRECT VS. INDIRECT METHODS In a forecasting context - not to be confused with financial-statement preparation - local governments typically rely on the Direct Method. This approach analyzes actual bank activity and forecasts inflows and outflows by category, closely reflecting day-to-day cash behaviour. It is ideal for liquidity management and tactical investment planning.

The Indirect Method derives future cash positions from financial plan projections rather than from transaction data. While less precise for daily decisions, it supports long-term planning and aligns cash forecasts with broader strategies such as debt and funding mix, reserve management, and financial sustainability.

In practice, this means projecting the income statement, balance sheet, and statement of cash flows together - producing an integrated, forward-looking financial model from which cash requirements, borrowing activity, investment capacity, and other treasury flows naturally emerge.

Both methods bring value depending on the planning horizon.

SETTING THE STANDARD: THREE COMPLEMENTARY TIME HORIZONS A strong cash flow program typically incorporates three views:

Together, these horizons create a comprehensive liquidity framework, each built using the Direct Method to reflect real cash movements.

FROM INSIGHT TO ACTION A forecast becomes most powerful when it guides real decisions.

In surplus periods, it supports confident placement of term deposits, MFA pooled funds, notice plans, or laddered GIC programs. In deficit periods, it clarifies the sequence in which funding sources should be accessed - internal borrowing, high-interest savings, selling liquid MFA pooled fund units, or MFA temporary borrowing prioritizing the lowest-cost and lowest-opportunity-cost options.

Even modest improvements in investment timing, combined with shopping for the best available rates on investments of equivalent credit risk, can meaningfully increase interest income and strengthen treasury performance.

FINAL THOUGHTS Cash flow forecasting is a commitment to financial stewardship and transparency. It equips local governments to invest wisely, borrow strategically, and navigate uncertainty with confidence transforming everyday treasury activity into measurable public value.

• 12-month rolling forecast – baseline for strategic visibility; extending to 18-24 months captures two requisition cycles, improving planning for municipal (July) and regional district (August) inflows.

• 13-week forecast – the bridge between strategic and daily views, structured as a 91-day (one-quarter) horizon to provide consistent week-by-week visibility.

• Daily forecast – critical for day-to-day liquidity control, precise timing of investment placements and maturities, and sequencing payments with accuracy.

ANDREW HOGE , CPA, CGA, CFA, is the Manager of

Corporate Finance & Treasury at the Capital Regional District (CRD). He leads treasury strategy, investment management, and long-term financial planning for CRD, CRHD, and CRHC. Prior to joining the CRD, he worked at BCI and the Municipal Finance Authority of BC in investment performance and credit & economic analysis. .

DECEMBER | 2025

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MEMBER ARTICLE | MELISSA BEAUFORD

STRENGTHENING MUNICIPAL SECURITY:

LETTERS OF CREDIT AND SURETY BOND ACCEPTANCE IN BURNABY

MUNICIPALITIES ACROSS BRITISH COLUMBIA FACE THE ONGOING CHALLENGE OF ENSURING FINANCIAL SECURITY FOR LAND DEVELOPMENT PROJECTS. AT THE CITY OF BURNABY, THE TREASURY SERVICES DIVISION MANAGES A ROBUST PORTFOLIO OF DEVELOPMENT SECURITIES, INCLUDING CASH, LETTERS OF CREDIT AND, MORE RECENTLY, SURETY BONDS.

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As of the latest census, Burnaby is BC’s third-largest city, with a population of 249,125 and a dynamic development landscape spanning four town centers.

WHY DEVELOPMENT SECURITY MATTERS Development security is essential for guaranteeing the fulfillment of obligations by third parties and mitigating financial risk from defaults. Whether it’s infrastructure assets like roads and water mains, contractual commitments such as utility works, or goods like car sharing and public art, security instruments ensure that municipalities can safeguard public interests and complete necessary works if a developer defaults.

GFOABC.CA

LETTERS OF CREDIT: STRUCTURE AND POLICY Burnaby currently holds approximately 800 letters of credit and surety bonds, with a total of $529mm. Letters of credit remain the predominant form of security, with cash bonding representing a much smaller share. The city’s security policy provides clarity on when a letter of credit versus surety bond is acceptable, offers guidance to staff and developers, and ensures consistent document structure and risk mitigation controls.

Key features of Burnaby’s letter of credit requirements include:

items which are part of servicing and access works agreements or legislated Development Cost Charges and Amenity Cost Charge instalments.

CONCLUSION Burnaby’s approach to municipal security demonstrates the importance of clear policies, robust risk management, and adaptability to legislative changes. By balancing the benefits and risks of letters of credit and surety bonds, the city continues to protect public interests while supporting responsible development.

• The letter of credit must be both standby and irrevocable • Beneficial clauses such as full and partial drawings, yearly expiry dates with automatic renewal, and credit available by sight draft • No requirement for special certificates or additional documentation for draws • A handout outlining acceptable formats and clauses, available on the City’s website

SURETY BONDS: NEW OPPORTUNITIES AND RISKS In January 2025, Burnaby began accepting surety bonds, which now account for two (2) percent of securities by count and 12 percent by value. Surety bonds, issued by insurers, offer developers access to working capital and are simpler to obtain once approved by an insurer.

However, they present challenges for municipalities, including complex contract language and potential delays in collecting from insurers.

To mitigate risks, Burnaby undertook extensive legal review and developed a surety bond template with waivers for certain rights, ensuring the bond remains a true legal instrument of issue by an insurer. The City also leverages AI to verify the integrity of submitted surety bonds. Surety bonds are accepted only for items with clear contractual obligations, such as engineering servicing

MELISSA BEAUFORD is a Treasury Analyst at the

City of Burnaby, where she supports the Treasury Services team with analytics, training and procedural policies for investments, security intake and release, banking, merchant services, and cash management.

As the lead for Letter of Credit and Surety Bond review, acceptance, and release; Melissa provides key support to City staff through training and risk mitigation strategies.

With a career spanning roles in contract management and administration Melissa brings expertise in process improvement and team development. Outside work, she enjoys hiking, biking, and paddleboarding with her family. .

DECEMBER | 2025

DOLLARS & SENSE PRESPECTIVE | 19

COLLECTORS’ CORNER | DOUG STEIN

Collectors’ Corner:

TAX COLLECTION ON MANUFACTURED HOMES – PART 3 (TAX SALE)

COLLECTING OUTSTANDING PROPERTY TAXES ON MANUFACTURED HOMES CONTINUES TO BE A CHALLENGE FOR COLLECTORS.

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In the March 2010 GFOABC Newsletter, Tanya Garost wrote an excellent article providing practical suggestions about collecting delinquent taxes on manufactured homes that reside on land owned by another entity (e.g. manufactured home parks) such as filing a financing lien per the Manufactured Home Act S28 or suing in small claims court (Civil Resolution Tribunal) per the Community Charter S231. I also recommend doing a site visit to ensure the manufactured home has not disappeared or is derelict and then notifying BC Assessment to remove the

GFOABC.CA

manufactured home from the roll or write it down to a nominal assessment.

In the March 2017 GFOABC Newsletter, I discussed manufactured homes that are situated on land owned by the owner of the manufactured home such as a strata lot in which case the property (land and manufactured home) is subject to tax sale. However, can a manufactured home located in a manufactured home park be sold at tax sale?

Firstly, the Local Government Act (LGA) S645(1) states: “At 10 a.m. on the last Monday in September, at the council chambers, the collector must conduct the annual tax sale by offering for sale by public auction each parcel of real property on which taxes are delinquent.” The Community Charter Schedule defines “real property” as “land, with or without improvements”. So, it can be argued that a manufactured home on its own is not subject to tax sale. To support this conclusion, if a manufactured home was sold at tax sale, the further provisions of the Local Government Act cannot be complied with (e.g. filing the applicable notices at Land Titles).

However, enter the Manufactured Home Tax Act. S3 states that the owner of a manufactured home park is not liable for the unpaid property taxes imposed on the manufactured home. Section 5 states that the owner of a manufactured home is liable for taxes imposed by the Community Charter. The Community Charter S252 states that a collector may levy the amount of taxes due, with costs, by distress of goods and chattels of the person liable to pay the taxes. A manufacture home is a chattel.

Therefore, the municipality can go through the process of seizing a manufactured home for non-payment of taxes.

For distress/distraint a court order is required, notification and probably the services of a bailiff. Pursuant to the Community Charter S252(5) “the collector or agent must sell at public auction the seized property”. So, the manufactured home can be sold as a seized chattel at the same public auction that is used to auction properties eligible for tax sale.

DECEMBER | 2025

Also, based on Section 5 of the Manufactured Home Tax Act, it could also be argued that offering a manufactured home (without the land) per the Community Charter S254 at tax sale is discretionary.

Going full circle, depending on the condition of the manufactured home, selling it at the tax sale public auction may not be the most desirable choice as the municipality may end up obtaining the manufactured by default and thus have to expend additional cost to dispose of it. Time to reread Tanya’s article (GFOABC Newsletter March, 2010).

DOUG STEIN has worked in municipal finance for over

40 years. He retired from his position as Manager of Revenue Services for the District of Saanich in 2011 and now facilitates GFOABC workshops and webinars and consults on property taxation issues. Doug is very involved with the Collectors’ Forum, is a GFOABC Life Member and a CPA, CMA..

DOLLARS & SENSE PRESPECTIVE | 21

MEMBER SPOTLIGHT | SALLY BHULLAR-GILL

SALLY BHULLAR-GILL WHEN DOUG ASKED ME TO WRITE FOR THE COLLECTORS’ CORNER, MY FIRST THOUGHT WAS WHAT WORDS OF WISDOM CAN I SHARE AFTER 44 YEARS IN LOCAL GOVERNMENT.

However, rather than words of wisdom, I quickly realized the most meaningful takeaway from my 44 years is the recognition that the only constant has been change!

I remember a time when we all didn’t have computers, but now we are in the era of AI. That being said, I believe the numbers will be the numbers, whether we crunched them manually or by leveraging technology. However, people and culture are always evolving and drive the success of any team. I recall once sharing with a senior manager, if we didn’t adapt as an organization, we would get left behind and I feel that is even more true today than ever.

People today bring their academic achievements and energy to their new jobs and are not necessarily thinking about a long-term career, so we as managers can guide, mentor and coach them to be their best and own the good, and the not so good in our jobs – that is part of the learning experience. I have always maintained nobody comes to work with the idea of not wanting to be successful, so how do we as managers interact with our team to position them for success!

As managers, we should provide mentoring and coaching and not think in terms of how long they will stay in their job. If we are all providing support, then it doesn’t matter the term of their role because the next candidate hired also has the benefit of that mentoring and coaching.

I have been surrounded by some incredible mangers over the years and learned that people are truly the

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GFOABC.CA

backbone of our organization, and relationships need to be nurtured. So, I have worked to build those relationships internally and externally. I saw the reward this work from our Collectors’ Group especially. I feel one saving grace while managing during COVID was the Collectors’ Group to reach out to one another to ask for help or clarification of legislation. I genuinely believe much of my success over the years has been because of the Collectors’ Group – to be able to email, call or text to get help or simply to be able to vent to one another on all thing’s property taxes and utilities.

!

IF THERE IS SOMEONE IN YOUR ORGANIZATION THAT YOU’D LIKE TO RECOGNIZE IN THE JUNE MEMBER SPOTLIGHT, LET US KNOW. Contact office@gfoabc.ca.

I think one of the most challenging times of my career was COVID, but it also reinforced people’s resiliency and local government’s ability to pivot and adapt. Prior to COVID, I would have never believed work from home would be possible and now because of COVID, we continue to have work from home, as part of the standard employment practice.

To reiterate change is the only constant so I believe there is real strength in learning to be able to adapt and embrace the changes to be successful.

I wish all the best and know it can be very rewarding working for local government as it has been for me!

SALLY BHULLAR-GILL was the Property & Payment Services Manager at the City of

Surrey until her retirement earlier this year.

DECEMBER | 2025

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SPONSOR ARTICLE | LAUREN KERR

Many clients utilize our short-term borrowing program – municipalities, regional districts, regional hospital districts, emergency communications corporations, Metro Vancouver utilities, and even school districts. We also fund multiple kinds of loans: temporary borrowing, shortterm capital borrowing, revenue anticipation borrowing, liabilities under agreement (including equipment financing) and more! Projects range from small-scale (replacing a minor piece of equipment) to hundreds of millions of dollars (constructing a new hospital or wastewater treatment facility).

OUR BONDS BUILD BC GET IT? WELL, ACTUALLY…IT’S NOT JUST BONDS. WHILE THE MUNICIPAL FINANCE AUTHORITY OF BC (MFA)‘S BOND SALES FUND OUR LONG-TERM LOANS, OUR SHORT-TERM LOANS ARE FUNDED BY OUR COMMERCIAL PAPER PROGRAM. WITH SIGNIFICANT PROJECTS UNDER CONSTRUCTION AROUND THE PROVINCE, SHORTTERM BORROWING LEVELS ARE AT AN ALL-TIME HIGH. TO HELP ENSURE THAT THE MFA CAN CONTINUE TO PROVIDE TIMELY FUNDS FOR EVERYONE’S NEEDS, WE NEED YOUR HELP FORECASTING UPCOMING FINANCING REQUIREMENTS.

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We are one of the largest and lowest-cost municipal issuers of commercial paper in Canada. This program helps us to lend at a significantly lower cost than commercial banks. We have the authority to issue up to $1.25B of commercial paper; however, we only have $700M issued. Keeping the program at the appropriate size is one key to maintaining our excellent credit ratings. Striking a balance between loans and how much commercial paper we have outstanding (versus borrowing and having excessive cash on hand) demonstrates the prudent use of leverage. We can increase the program’s size, but it requires substantial background work (and time), so we require early insight into your borrowing needs.

We try our best to keep on top of the projects around the province, but as you can imagine, it is easy to miss something. When planning our short-term lending capacity, we currently call communities that we know are undertaking large projects and then dust off our trusty MFA crystal ball. We’re hoping that you can help us improve that process.

If your borrowing needs are smaller (up to $10M), they don’t impact the program as significantly. We can assess the base level of funds required based on historical usage, but we would still appreciate estimates to ensure we are right-sized. If you have a project or a group of projects for which you anticipate borrowing more than $10M, please communicate with us early and often as your plans evolve.

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We understand that things change over time, and we do not expect your estimates to be perfect; however, please let us know when and if things change!

A few key pieces of information would be invaluable: • Total estimated project cost • Total estimated short-term borrowing ($ and timing) • How and when do you intend to repay short-term borrowing?

• How much will be converted to long-term debt, and when?

We are working on incorporating this information into our short-term loan application or other records, but a quick call or email in advance is much appreciated. By the time an application comes in, borrowing is usually imminent, so an earlier heads-up is helpful.

In this case, the “bonds” we need to solidify are with you. We recognize that you are all extremely busy, but we can’t plan effectively without you. If you can update us on your borrowing requirements twice per year (or when there is a material change), it will allow us to optimize our commercial paper program and ensure we can fund every client’s requests promptly.

LAUREN KERR Lauren joined the Municipal Finance

Authority as their Credit & Compliance Officer in 2017.

She is responsible for short-term and equipment financing loan approvals and ensuring legislative compliance of all documents required for long-term borrowing. Before joining the MFA, Lauren worked for the Ministry of Municipal Affairs for eight years in a variety of positions, ending as a Senior Financial Officer. While at the Ministry, she worked with many local governments to find creative ways to resolve local issues. When she is not helping clients navigate the local government finance system, she is generally being bossed around by her German Shepherd Cruzr or her nephew Rider (a Frenchie). .

DECEMBER | 2025

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SPONSOR ARTICLE | CHRIS SINCLAIR

UNDERSTANDING THE HUMAN SIDE OF MUNICIPAL BUDGETS:

HOW RISING COSTS IMPACT CONSUMER FINANCES EACH YEAR, MUNICIPAL FINANCE OFFICERS FACE THE CHALLENGE OF BALANCING BUDGETS IN THE FACE OF RISING COSTS, INFRASTRUCTURE NEEDS, AND EVOLVING COMMUNITY EXPECTATIONS.

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Inflation, higher borrowing costs, and wage pressures all add complexity to the budget process. While these challenges are well understood within municipal finance circles, it is also worth considering how these same cost pressures affect the residents who ultimately fund local services through property taxes, user fees, and utility rates. Councils and Boards are often sensitive to these challenges when they ask for the tax rate increases to be lowered. Understanding the challenges can be a useful tool for finance officers to help navigate the process of working with Councils and Boards to determine the final tax rates and budget bylaw.

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Across British Columbia, household budgets are under significant strain. Many families are contending with higher mortgage payments, increasing rent, and elevated costs for essentials such as groceries, fuel, utilities, and other expenses. According to data from the Office of the Superintendent of Bankruptcy, consumer insolvencies in Canada have been trending upward, returning to, and in some regions surpassing, pre-pandemic levels. Rising interest rates have made it harder for households to manage variable-rate debt, and the cumulative effect of years of inflation has significantly eroded disposable income.

Local governments certainly cannot solve household debt, but they can be part of a broader conversation about financial well-being. As budget deliberations take shape, understanding the link between community affordability and municipal decision-making can help ensure that fiscal prudence and compassion remain aligned.

From a municipal perspective, these financial stresses can have several implications. Residents struggling to meet basic expenses may fall behind on property taxes, utilities, or other municipal payments. Demand may increase for community support programs, subsidized recreation, or housing assistance. Even small increases in local fees or levies can have a disproportionate impact on lower-income households or those carrying significant debt. These realities show the importance of considering affordability and payment flexibility as part of the broader budgeting process.

For councils and finance officers, there is an inherent tension between fiscal sustainability and community affordability. Municipalities must maintain infrastructure, pay staff, and plan for growth—yet they do so within a context where many taxpayers may be financially stretched. Transparent communication about cost drivers, capital priorities, and the long-term value of investments can help build public trust and understanding, particularly when rate increases are unavoidable.

The current environment highlights how interconnected personal and public finances have become. When individuals face unmanageable debt, the effects ripple outward—impacting not only families, but also local economies and community engagement. Local government leaders who recognize these pressures can play a role in promoting resilience, whether by supporting local financial literacy initiatives, offering flexible payment options, or simply being mindful of the cumulative financial demands placed on residents.

DECEMBER | 2025

CHRIS SINCLAIR CPA, CA, CIRP, LIT, is a Partner with BDO and he oversees the firm’s insolvency practice for British Columbia, primarily including the B.C. Interior region and the Greater Vancouver Area. He is also licensed to practice in the Yukon. Chris is a Licensed Insolvency Trustee, and has been advising businesses and individuals on insolvency matters since 2009. He spent the first 8 years of his insolvency career working with businesses and companies to restructure their debts through court-appointed receiverships, proposals to creditors, bankruptcies, and other non-legislative restructuring solutions. Since 2017, Chris has been helping individuals and small businesses navigate the difficult but rewarding process of debt relief. Through his broad range of experience, Chris can bring an empathetic and practical approach to solving problems and he provides his clients with solutions that are tailored to the specific situation and meet the client’s current and future objectives.

DOLLARS & SENSE PRESPECTIVE | 27

SPONSOR ARTICLE | CANOE

STRATEGIC PROCUREMENT PLANNING:

PREPARING FOR 2026 WITH GROUP PROCUREMENT

28 | DOLLARS & SENSE PERSPECTIVE

GFOABC.CA

GROUP PROCUREMENT’S ROLE IN STRATEGIC BUDGETING While group procurement is often viewed as a tool for efficient purchasing, its true value extends well beyond the transaction. For local governments preparing capital and operating budgets, group procurement offers a strategic advantage: helping teams forecast needs, streamline timelines, and reduce administrative complexity before the fiscal year begins.

Effective procurement planning is fundamental to sound budgeting. Multi-year capital plans, asset replacement schedules, and operating forecasts all hinge on clear timelines, dependable supplier relationships, and accurate specifications. Yet too often, procurement is treated as a downstream administrative function, activated only after budgets have been passed.

This strategic misalignment can often lead to delays, cost overruns, and missed opportunities. Strategic procurement planning means integrating procurement into the budget process from the outset, ensuring that what is approved can be delivered on time and within budget.

AS 2025 DRAWS TO A CLOSE, GOVERNMENT FINANCE OFFICERS ARE FINALIZING PURCHASES, REVIEWING BUDGET PERFORMANCE, AND LAYING THE FOUNDATION FOR A SUCCESSFUL 2026. FOR MANY, THIS PERIOD IS AS MUCH ABOUT CLOSING THE BOOKS AS IT IS ABOUT SETTING PRIORITIES FOR THE YEAR AHEAD. AMID ONGOING SUPPLY CHAIN UNCERTAINTIES AND POLICY DISCUSSIONS AROUND TARIFFS AND PROCUREMENT STRATEGIES, THE NEED FOR THOUGHTFUL, FORWARD-LOOKING PROCUREMENT PLANNING HAS NEVER BEEN MORE PRESSING.

HOW GROUP PROCUREMENT SUPPORTS 2026 PLANNING Group procurement serves as a bridge between financial planning and operational execution, allowing finance officers to incorporate existing contracts into the budgeting process early, resulting in more confident assumptions around timelines, specifications, and supplier availability. This proactive integration ensures that when budgets are approved, the mechanisms to execute them are already in place, reducing uncertainty and enhancing organizational readiness.

Continued on page 32

DECEMBER | 2025

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SPONSOR ARTICLE | CANOE

Continued from page 31

Some ways group procurement can help streamline the 2026 financial planning include: 1. PROCESS RELIABILITY AND PLANNING CONFIDENCE Group procurement contracts, such as those competitively tendered by the Canoe Procurement Group of Canada on behalf of the Canadian public sector, support stronger process control and predictability. Using established, trade-compliant agreements helps finance teams plan activities with defined scopes and consistent supplier performance. This reliability aligns project schedules with funding expectations and improves coordination across departments.

2. COMPRESSED PROCUREMENT TIMELINES With contracts already competitively awarded and tradecompliant, group procurement streamlines the process of securing critical goods and services, reducing both the time and administrative effort required. From office supplies to infrastructure projects, local government departments can begin procurement earlier in the year, aligning purchases with funding cycles and project schedules.

3. FLEXIBILITY AND STRATEGIC APPLICATION Group procurement contracts are designed to be effective in both ad hoc and strategic situations, enabling quick action for immediate needs and structured planning for long-term initiatives. They fit a wide range of requirements, from large capital projects to everyday operational purchases. With no minimum

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spending requirements or commitments, finance teams can respond to emerging priorities while maintaining alignment with broader departmental goals and long-term plans.

4. SUPPLIER COLLABORATION AND LONG-TERM PLANNING Canoe’s extensive supplier network can help local governments anticipate future needs, whether planning for fleet replacement, infrastructure maintenance, or facilities upgrades. Working with approved suppliers who are experienced in both the group and public sector procurement landscape can help uncover opportunities for strategic efficiencies that extend beyond transactional purchasing.

5. BUILDING PROCUREMENT INTO ORGANIZATIONAL STRATEGY For finance professionals engaged in both short and longterm capital and asset planning, group procurement is a valuable resource. Collaborating early with operational departments to identify upcoming procurement needs allows teams to map those purchases to available group procurement contracts. This both prevents rushed tendering later in the year while also ensuring that approved budgets translate to tangible outcomes.

Whether planning a phased facility upgrade, securing critical equipment and services, or placing routine supply orders, embedding procurement strategy into budget planning can help support smoother execution in 2026.

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6. TAKEAWAYS FOR GOVERNMENT FINANCE OFFICERS • Integrate procurement timelines into budget planning early • Use group procurement to strengthen planning consistency throughout the year • Engage with Canoe suppliers to align on both short and long-term purchasing needs • Align internal purchasing plans with existing Canoe contracts to streamline procurement and reduce administrative workload throughout the year.

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To explore how group procurement can support your planning goals for 2026, visit canoeprocurement.ca or contact Kim Thiessen, Canoe’s regional representative for British Columbia, at 250.215.1818 or kim@

PUBLIC SECTOR PROCUREMENT MADE SIMPLE Procurement doesn’t have to be stressful, From furniture and maintenance supplies to IT software and technology, Canoe delivers trade-compliant solutions tailored to public sector needs. Focus on what truly matters - serving your community while we handle the complexities

canoeprocurement.ca

canoeprocurement.ca.

ABOUT THE AUTHOR: The Canoe Procurement Group of Canada is a Canadian group procurement organization that collaborates with municipal associations across the country, including CivicInfo BC, to support public sector and registered non-profit organizations through mutually beneficial, trade-compliant procurement contracts and relationships with suppliers. In operation since 1936, Canoe is wholly owned and operated by its membership through a not-for-profit municipal association.

DECEMBER | 2025

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SPONSOR ARTICLE | AIDAN ANDREWS

UPCOMING CHANGES IN DEVELOPMENT COSTS RECOVERY A FEW IMPORTANT CHANGES ARE COMING TO DEVELOPMENT COSTS RECOVERY. Beginning January 1, 2026, amendments to the Development Charge (Instalments) Regulation, B.C. Reg. 166/84 (as the Development Cost Charge and Amenity Cost Charge (Instalments) Regulation will become known) come into force. Those working in planning and finance should be aware of how the changes will affect the collection of charges, as well as their effect on local governments’ discretion over the form of security they may require from developers.

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GFOABC.CA

The first change of note is the addition of school site acquisition charges (Local Government Act, s. 572(1)) to the scope of the Regulation. Up until now, only development cost charges and amenity cost charges were payable in instalments.

Local governments should consider whether their development charge instalment surety bond forms, default notices and informational materials are up to date and ready for these changes before the new year.

The second change affects the timing of instalments.

Previously, a developer had two years from time of subdivision approval or grant of building permit to pay their charges in full, with at least one-third immediately payable and at least half of the balance payable within the year. Under the new regime, a developer will have four years to pay their charges in full, with one quarter immediately payable. No other timing of instalments is specified. However, if a development requires occupancy permits, and such permits are issued within four years from subdivision approval or grant of building permit, the developer must pay the balance of the charges within 15 days of issuance and on notice from the local government.

The final change affects local governments’ discretion over the form of security they can accept to secure a developer’s commitment to pay according to the instalment schedule. While local governments retain greater discretion with respect to an irrevocable letter of credit or duly assigned security, they will no longer be able to refuse a developer’s on-demand surety bond, provided it meets certain criteria. The insurer issuing the bond must have a credit rating in a specified “A” range, and the insurer must pay the balance of the charge within 15 days of a local government giving notice that the developer has defaulted on a payment obligation.

Importantly, the bond must also provide that the insurer cannot escape its obligation to pay on demand, except on 90 days’ notice and provided the developer has replaced the security at least 30 days before termination of the insurer’s payment obligation. In such an event, a local government may have opportunity to negotiate terms of the security, should the developer be unable to obtain another surety bond meeting the criteria for non-refusal.

DECEMBER | 2025

AIDAN ANDREWS is an associate lawyer with Civic Legal LLP, practising across the spectrum of municipal law. Aidan has previously presented to the Collectors’ Forum.

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SPONSOR ARTICLE | CAMILLA SUTTON, DOUGLAS PORTER & DAN PHILLIPS

WHAT’S NEXT IN ECONOMICS, MARKETS, AND TRADE?: A CLEARER VIEW OF RISKS AND REDUCED UNCERTAINTY HAVE SUPPORTED INVESTOR CONFIDENCE IN RECENT MONTHS, EVEN IF THE ECONOMIC OUTLOOK IN THE U.S. AND CANADA IS NOT ENTIRELY ROSY. .

Earlier in 2025, market participants had many questions about what U.S. tariffs would ultimately look like, what that could mean for inflation and how central banks would respond. Today, many of those questions have been answered, giving economists and investors the information they need to factor those risks into their forecasts and portfolios.

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BMO recently hosted a panel discussion moderated

by Camilla Sutton, Managing Director and Head of Equity Research, Canada & UK, BMO Capital Markets.

The panel featured Doug Porter, Managing Director & Chief Economist, BMO, Ernie Tedeschi, Director of Economics at Yale University’s Budget Lab and former Chief Economist at the White House Council of Economic Advisers, and Dan Phillips, Chief Investment Officer, BMO U.S. Wealth Management.

ECONOMIC OUTLOOK For most of the year, business leaders and investors have had no shortage of curveballs to handle, including trade tensions, shifting U.S. fiscal and tax policies and, more recently, the potential U.S. government shutdown. On the one hand, it may seem as though economic and business confidence is quite weak, but the reality is more nuanced, Doug Porter explained.

GFOABC.CA

For the past nine months, everyone has been trying to figure out how these complicated variables were going to weigh on inflation and growth, he explained. Now the concern has shifted somewhat from inflation to the weakening employment picture. “It’s clear that payroll growth is slowing quite markedly,” he says.

The U.S. unemployment rate is at 4.3 percent, up nearly a full percentage point from its low in April 2023, noted Ernie Tedeschi. That number is not alarming, but it is right on the cusp of what economists would define as full employment. “If you have a job in the United States right now, you’re fine, but if you’re looking for a job or a new entrant, it’s a very difficult labour market,” he says.

Strategic guidance to help your organization.

In terms of the overall health of the U.S. economy, neither Porter nor Tedeschi felt there was any reason to expect a recession. In the final read on the second quarter, U.S. GDP growth rose to 3.8 percent while third quarter growth is expected to come in somewhere between 2.5 percent and 3 percent, said Porter. “The recent GDP numbers are still quite solid,” he said. “Overall, we’re not looking at a particularly robust year for the U.S. economy, but not weak either.”

Tedeschi shares a similar view. “What we have in the U.S. is a split personality economy right now,” he said, pointing to the dichotomy between GDP growth and slowing employment. Tedeschi did note that the U.S. economy is partially being supported by private investment in Artificial Intelligence technologies. The challenge is understanding how durable that investment will be.

For 2025, BMO Economics expects U.S. GDP growth will come in slightly above 2 percent, with similar growth expected in 2026 as well. In Canada, BMO Economics is projecting GDP will rise by a little more than one 1 percent this year, so not quite a recession, said Porter.

To read the full article and listen to the recorded panel discussion, visit http://spr.ly/6005AfoL7.

DECEMBER | 2025

At BMO, you’ll have access to expertise in the public sector as well as an extensive suite of solutions to propel your organization forward.

For more information, visit bmo.com/publicsector

DOLLARS & SENSE PRESPECTIVE | 35

PARTNER ARTICLE | ANTONELLA RISI

NAVIGATING CHANGE:

IMPLEMENTING PSAB’S NEW REPORTING MODEL CANADIAN LOCAL GOVERNMENTS ARE PREPARING FOR MAJOR CHANGES IN PUBLIC SECTOR FINANCIAL REPORTING. THE PUBLIC SECTOR ACCOUNTING BOARD’S (PSAB) NEW REPORTING MODEL (IN SECTION PS 1202) AND CONCEPTUAL FRAMEWORK, EFFECTIVE APRIL 1, 2026 (OR JANUARY 1, 2027, FOR DECEMBER YEAR ENDS), WILL RESHAPE HOW FINANCIAL INFORMATION IS PRESENTED AND COMMUNICATED.

GET STARTED TODAY Start your implementation journey as soon as you can.

Visit our resource pages to access tools, guidance, and educational materials for: • Reporting Model • Conceptual Framework

PREPARING FOR A SMOOTH TRANSITION Implementing PSAB’s new Reporting Model and Conceptual Framework takes planning. Early engagement with interested and affected parties, and use of available resources will ensure a smooth transition. Though complexity may vary based on factors like system flexibility and education needs, the benefits—greater transparency, accountability, and comparability—are well worth the effort.

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KEY IMPLEMENTATION STEPS Here’s what local governments need to consider as they prepare for implementation: 1. UNDERSTAND THE NEW STANDARD AND CONCEPTUAL FRAMEWORK Local governments should review Section PS 1202 and the new Conceptual Framework, which introduces concepts like service capacity and derecognition, clarifies foundational principles, and removes certain recognition exclusions.

2. UPDATE FINANCIAL STATEMENT SOFTWARE The revised financial statement package will require software updates. Key changes to the financial statements include a restructured statement of financial position, new statements for net financial assets/liabilities and changes in net assets/liabilities, and an updated cash flow statement. Local governments should assess how updates affect budgeting and consolidation systems.

3. CLASSIFY LIABILITIES ACCURATELY Section PS 1202 introduces the distinction between financial and non-financial liabilities. Financial liabilities are settled with financial assets; non-financial ones are not. Guidance materials such as decision trees and illustrative examples, within Section PS 1202, support accurate classification.

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4. APPLY NEW BUDGET REQUIREMENTS If no budget information is prepared or approved, entities must disclose this and explain why actual-to-budget comparisons aren’t possible. Amended budgets may be allowed in specific cases, such as after an election and approval by a new governing body.

5. EDUCATE INTERESTED AND AFFECTED PARTIES Communicate the new financial statement package to council members, the public, media, and other interested and affected parties so that they are aware of the changes. Use PSAB’s resources including the snapshot, webinar, and plain-language overview to support education.

ADDITIONAL CONSIDERATIONS • Retroactive Application: Section PS 1202 requires restating prior periods, where applicable. Entities with non-financial liabilities may need to recalculate previous balances.

• Trend Analysis: Review how changes may affect trend tables and other data in the Financial Statement Discussion & Analysis.

WHY THE CHANGE MATTERS The new Reporting Model and Conceptual Framework aim to enhance transparency, comparability, and accountability in public sector financial statements. For local governments, this means revisiting long-standing practices to ensure financial reporting aligns with the updated standards before the new year.

ANTONELLA RISI CPA, CA, is an Associate Director at Canada’s Public Sector Accounting Board, overseeing advisory groups and major projects to develop and amend public sector accounting standards.

She oversees initiatives on cloud computing, financial instruments and intangible assets, and serves on national and international accounting standards task forces.

DECEMBER | 2025

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EXHIBITOR ARTICLE | LAURINDA BROWN

HOW MUNICIPALITIES CAN KEEP UP WITH CHANGING FINANCIAL REPORTING REQUIREMENTS IF YOU WORK IN MUNICIPAL FINANCE, YOU KNOW HOW QUICKLY THINGS CAN CHANGE.

AUTOMATION ISN’T ABOUT REPLACING PEOPLE — IT’S ABOUT RECLAIMING TIME

One day you’re preparing reports a certain way — and the next, new Public Sector Accounting Standards (PSAS), audit requirements, or transparency mandates come rolling in, often all at once. The pressure to keep up isn’t just about compliance anymore; it’s about maintaining public trust while managing limited resources and technology that doesn’t always cooperate.

There’s a misconception that automation means less human involvement. It actually means freeing up your people to focus on analysis, forecasting, and decisionmaking, not manual number input. When processes like data consolidation, reconciliations, and report generation are automated, your team spends less time firefighting and more time thinking strategically.

OUTDATED SYSTEMS, MODERN CHALLENGES

And here’s the bonus: automation builds consistency. It minimizes human error, reduces last-minute scrambles, and keeps data aligned across departments. It also removes the risks associated with staff turnover. In an environment where one incorrect cell can ripple through an entire budget, that consistency is gold.

Many municipalities still rely on last-decade tools: manual spreadsheets, inflexible ERPs, and reporting “systems” known only to one person. But the world of financial reporting has changed. Accuracy and timeliness are nonnegotiable now. Stakeholders expect to see the story behind the numbers, not just the totals at the bottom.

That shift means finance teams need systems that can adapt — ones that handle evolving regulations without creating headaches every time something changes.

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FLEXIBILITY IS THE REAL SUPERPOWER If there’s one skill every municipality needs right now, it’s flexibility. Regulations will continue to shift. Funding formulas will keep evolving. And community expectations for transparency? Those are only getting higher.

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That’s why adaptability, not just compliance, has become the hallmark of resilient finance teams. Whether that means developing dynamic reporting models, building standardized templates that evolve easily, or improving collaboration between finance and operations, flexibility keeps you moving forward when others are stuck in the mud.

A CULTURE OF CONTINUOUS READINESS Being “audit-ready” or “compliance-ready” shouldn’t be a once-a-year event. The most effective municipal finance teams treat readiness as an ongoing state — with clean data, consistent processes, and systems that make accountability second nature.

Because ultimately, financial reporting isn’t just about meeting standards. It’s about empowering decision makers with accurate data and showing your community that their trust is well-placed.

Ready to automate financial reporting? Kickoff to go-live in as little as two weeks.

Learn more at www.vividreports.com.

LAURINDA BROWN , Client Solutions Manager at

Vivid Reports, brings 15+ years of experience helping municipal and public sector finance teams boost efficiency through automation and smart technology.

Her expertise spans ERP systems, financial reporting, document management, and automation of AP/AR — streamlining operations and enhancing visibility across public sector organizations. .

DECEMBER | 2025

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EXHIBITOR ARTICLE | KIM ARSENAULT

BRIDGING THE AI READINESS GAP IN LOCAL GOVERNMENT ACROSS CANADA, LOCAL GOVERNMENTS ARE UNDER GROWING PRESSURE TO DO MORE WITH LESS. THEY’RE EXPECTED TO DELIVER FASTER SERVICES, IMPROVE TRANSPARENCY, AND MANAGE RISING COSTS. NOW, ARTIFICIAL INTELLIGENCE (AI) IS EMERGING AS A NEW OPPORTUNITY TO DRIVE EFFICIENCY AND MODERNIZE OPERATIONS..

BUT WHAT IS AI, REALLY? AI isn’t futuristic robots or complex algorithms. In local government, it means software that can automate tasks, analyze data, and assist with decision-making. Often, it’s quietly embedded in tools you already use, like Microsoft 365. Yet while AI promises to transform how municipal teams work, many organizations are discovering a growing challenge. Awareness is high, but readiness remains low.

AWARENESS WITHOUT READINESS For most municipalities, AI is already part of their day-today work, often without realizing it. Tools like Microsoft 365 Copilot and Power Automate are quietly adding new capabilities that summarize reports, draft documents, and automate approvals.

The issue isn’t access to AI; it’s being prepared to use it safely and effectively. Without a clear understanding of data governance, permissions, or internal policies, even simple automation can expose sensitive information or create compliance risks.

Readiness isn’t about becoming an expert in AI. It’s about building the right foundation so your team can adopt it confidently.

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WHY READINESS MATTERS AI offers enormous potential to improve efficiency, but it also introduces new considerations around privacy, data security, and accuracy. For public sector organizations, these risks are amplified by the responsibility to safeguard taxpayer information and uphold transparency.

Being “AI ready” means ensuring your data is properly stored and labeled, your staff understand how to use new tools responsibly, and your organization has policies in place that balance innovation with accountability.

In short, readiness is about trust. Building it internally helps your staff experiment confidently, while externally it reassures your community that their data is protected.

START SMALL, LEARN FAST Municipalities don’t need big budgets to begin. The best way to close the readiness gap is by identifying small, highvalue use cases inside Microsoft 365, where automation or AI can reduce manual effort and speed up existing workflows.

A few good starting points include: • Summarizing Council or committee meeting minutes • Drafting routine communications or reports • Automating approvals for recurring forms and requests • Streamlining expense reviews and purchase order approvals • Using a chat to answer common public inquiries, like property tax questions

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Each small win builds confidence, creates measurable value, and shows that AI can support, not replace, human expertise.

HIGHLIGHTING A PRACTICAL EXAMPLE: Take automating approval chains for recurring forms.

By setting up simple workflows in Microsoft 365, finance teams can save hours each month, reduce manual errors, and ensure compliance with internal policies, all without needing advanced technical skills.

THE BOTTOM LINE AI isn’t a distant trend; it’s a present-day tool that can help local governments operate smarter, faster, and more securely. The key is readiness: preparing your people, processes, and policies before diving in.

At ALPHA IT, we help Vancouver Island communities bridge the gap between awareness and action. Through readiness assessments, strategy workshops, and secure Microsoft 365 implementations, we make AI approachable and practical, helping local governments harness innovation safely, strategically, and with confidence.

SMARTER IT. LOWER COSTS. GREATER EFFICIENCY. ALPHA IT helps municipalities and local governments modernize outdated systems, unlock automation with Microsoft 365, and reduce IT costs, all while providing proactive support and enterprise-grade security.

HOW WE HELP Cut IT costs with right-sized tools, proactive care, and predictable pricing Modernize outdated systems Unlock automation with Microsoft 365 Strengthen cybersecurity protections

KIM ARSENAULT is the Director of Sales and Marketing at ALPHA IT. She helps local governments and small businesses strengthen cybersecurity, modernize systems, and prepare for AI adoption. With more than 15 years of experience in client success and digital strategy, Kim focuses on making technology simpler, safer, and more effective for people.

CONTRIBUTOR NOTE: This article was contributed by ALPHA IT, a Managed Services

Provider based on Vancouver Island. ALPHA IT helps local governments and communities simplify technology, strengthen cybersecurity, and take confident first steps into AI within Microsoft 365.

Discover how much smarter your IT can be.

Book a consultation today. getalpha.ca/contact 778-441-2535 info@getalpha.ca ALPHA IT: Technology That Pays Off

DECEMBER | 2025

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EXHIBITOR ARTICLE | UNIT 4

CANADA’S PUBLIC SECTOR AT A CROSSROADS:

WHY DIGITAL TRANSFORMATION MUST ACCELERATE ACROSS CANADA, PUBLIC SECTOR ORGANIZATIONS ARE FACING A PIVOTAL MOMENT IN THEIR DIGITAL TRANSFORMATION JOURNEYS. While nearly every government body has a strategy in place, new research from Unit4’s State of the Digital Nation 2025 reveals a troubling trend: progress is stalling just as pressures intensify.

The report shows that only a small fraction of organizations has fully implemented their digital strategies. This gap between ambition and execution is widening, raising concerns about the sector’s ability to meet rising demands for efficiency, sustainability, and citizen-centric services.

CHALLENGES BEYOND TECHNOLOGY In Canada, the barriers to transformation are not just technical. Cultural resistance, workforce constraints, budget limitations, and leadership priorities all play a role. The return-to-office mandates, for example, have significantly impacted recruitment. In 2025, over half of public sector organizations are now fully office-based— up from just 7 percent in 2023. This shift has reduced access to national talent pools, making it harder to attract specialized digital skills and increasing retention risks.

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DATA SILOS AND INTEGRATION WOES Despite investments in modernization, data silos remain a persistent challenge. Many Canadian agencies struggle to access real-time data across departments, undermining efforts to improve decision-making and service delivery.

Nearly 70 percent of respondents expressed doubts that transformation strategies will resolve integration issues.

Without unified systems, the promise of digital transformation—efficiency, transparency, and agility— remains out of reach.

BUDGET PRESSURES AND EXECUTION GAPS Financial constraints are another major hurdle. While optimism remains high—many organizations expect to complete their strategies within two years—the reality is more sobering. Delays, shifting priorities, and resource shortages are common. To navigate these pressures, some Canadian public sector leaders are exploring shared services and collaborative models to pool resources and reduce costs.

STRATEGIC RECOMMENDATIONS FOR CANADIAN LEADERS To move forward, Canadian public sector leaders should: • Prioritize data integration: Breaking down silos must be a top priority.

• Strengthen vendor evaluation: Focus on solutions that deliver measurable value and integration.

• Invest in change management: Successful transformation depends on people as much as technology.

CONCLUSION: WHY WAIT? Canada’s public sector stands at a critical juncture. The path to modernization requires clear leadership, adaptive strategies, and a renewed focus on execution. With the right tools and mindset, digital transformation can deliver better outcomes for citizens and build a more resilient, future-ready public service.

STORIES WITH UNIT4 Despite these challenges, several Canadian public sector organizations are demonstrating what’s possible with the right tools and strategy: • City of Nanaimo adopted Unit4 ERP and FP&A to streamline financial planning and improve reporting accuracy.

• City of Campbell River implemented Unit4 ERP, FP&A, and Talent Management to unify operations and enhance workforce engagement.

• Library of Parliament and Senate of Canada selected Unit4 to modernize back-office systems and improve data transparency.

• City of Kelowna replaced legacy systems with Unit4 ERP, achieving significant workflow efficiencies.

These examples show that transformation is not only achievable- it’s already underway.

DECEMBER | 2025

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Find out more from Unit4.com or get your copy of this report here.

CONTRIBUTOR NOTE: Unit4 delivers agile ERP solutions for finance, HR, procurement,

and projects, empowering over 400 public sector organisations to achieve digital transformation. For over 40 yrs Unit4 ERP has enabled efficiency, delivered rapid value, and innovation, reducing costs and administrative tasks, enhancing citizen service and future-proofing public sector technology.

DOLLARS & SENSE PRESPECTIVE | 43

EXHIBITOR ARTICLE | CENTRALSQUARE

WHY YOUR LOCAL GOVERNMENT IS MODERNIZING WITH CLOUD-BASED SOFTWARE—AND WHAT IT MEANS FOR YOU IF YOU’VE EVER WAITED AT CITY HALL, STRUGGLED WITH PAPER FORMS OR FELT EMERGENCY RESPONSE SEEMED SLOW, YOU’RE NOT ALONE. Across the country, government agencies—from small towns to major cities—are under growing pressure to modernize the systems behind everything from permitting, billing, and emergency response. For many, cloud-based technology—where data is hosted in secure data centers instead of local servers— is the best path forward.

While some agencies still rely on older, on-premises technology, cloud solutions are now more accessible even for smaller local governments with limited budgets. The shift isn’t just a tech upgrade; it’s about delivering faster, more secure, and more reliable services while improving resilience against disasters and cyberattacks.

REAL-LIFE EXAMPLES: WHY IT MATTERS Communities that are seeing the benefits: • Fulton County, Georgia: After a cyberattack in 2024 took down all systems, moving 911 operations to the cloud made them more secure and uninterrupted.

“You don’t want a cyber event. People don’t realize how important 911 is until you don’t have it,” said William Orgertrice, Division Chief.

• Albany/Dougherty County, Georgia: Frequent flooding in the jail’s server room prompted a move to the cloud.

Colonel John Ostrander, Chief Jailer, said, “Moving to the cloud is not a simple technology upgrade, it’s a way to literally keep our data dry.”

• Fairbanks, Alaska: The regional dispatch center now supports multiple agencies. “If we go down, they go down, too. Moving to the cloud gives us the confidence we need to support everyone who relies on us.” said Kristi Merideth, Dispatch Manager.

• Terrebonne Parish, Louisiana: After Hurricane Ida knocked out communications, cloud-based software and backups ensured continuity. “We don’t rely on hope anymore. We rely on the cloud.” said Mark Boudreaux, Executive Director.

These stories show that cloud technology isn’t just about convenience, it’s about safety, reliability, and public trust.

HOW IT IMPROVES EMERGENCY RESPONSE Seconds matter in emergencies. Cloud-based 911 platforms streamline communication and reduce delays, and give first responders real-time data, such as traffic conditions, maps, and building layouts, before they arrive.

This situational awareness saves lives.

With 240 million 911 calls made each year, cutting response times by even one minute can save an additional 253,032 lives annually.

WHY MORE AGENCIES ARE SWITCHING TO CLOUD A recent study by CentralSquare Technologies and Amazon Web Services (AWS) found that leaders are optimistic about moving to the cloud.

While saving money is a motivator, leaders are also excited about: • Enhanced security against cyber threats • Better disaster preparedness with 24/7 remote access • Flexibility to re-allocate staff from maintenance to mission-critical duties

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• Automatic software updates for faster deployments • Pay-as-you-go method for better financial planning

HERO-GRADE

• Improved collaboration and citizen experience The more progress agencies made in their cloud journey, the more confident they felt about continuing.

BENEFITS FOR RESIDENTS Cloud modernization means: • Faster service for permits and billing • Greater transparency with real-time data • Improved emergency response • Stronger data security • Resilience during disasters

THE ROLE OF NEW TECHNOLOGIES Cloud computing also opens the door to innovations like AI, machine learning, and edge computing, helping governments: • Predict and respond to community needs

Technology that empowers public administration in 65% of the largest US cities and counties.

• Analyze data to improve services • Automate routine tasks A report by Forrester noted that nearly one-third of government tech leaders plan to modernize their core systems within the next year.

WHAT’S NEXT? If your local government hasn’t fully modernized yet, cloud-based technology is likely on the horizon. Whether it’s renewing your license online or receiving emergency alerts, expect services to become more efficient, responsive, and user-friendly. Cloud-based systems help public services work better for everyone.

For more information, visit centralsquare.com.

Lourdes Rodriguez

Building Department - Bal Harbour, FL

CONTRIBUTOR NOTE: CentralSquare Technologies is the trusted provider of public

sector software in North America. Our comprehensive, cloud-based platform connects public safety and public administration, helping communities of all sizes run more safely and effectively every day.

DECEMBER | 2025

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AWARD WINNER | FARHAD HOSSAIN

EXCELLENCE IN LOCAL GOVERNMENT FINANCE AWARD:

FARHAD HOSSAIN

AT THE 2025 ANNUAL CONFERENECE, REGIONAL DISTRICT OF KOOTENAY BOUNDARY CHIEF FINANCIAL OFFICER FARHAD HOSSAIN WAS PRESENTED WITH AN EXCELLENCE IN LOCAL GOVERNMENT FINANCE AWARD IN THE CATEGORY OF NEW MEMBER. ALTHOUGH FARHAD IS NEW TO BC LOCAL GOVERNMENT, HE IS A HIGHLY EXPERIENCED AND AUTHENTIC LEADER WITH OVER 18 YEARS OF CROSS-FUNCTIONAL EXPERIENCE IN BUSINESS FINANCE, STRATEGY IMPLEMENTATION, AND PROJECT MANAGEMENT IN MULTIPLE SECTORS, SUCH AS LOCAL GOVERNMENT, HOUSING, AND CONSUMER GOODS.

1) CONGRATULATIONS ON WINNING THE NEW MEMBER AWARD! YOU ARE OBVIOUSLY NEW TO LOCAL GOVERNMENT. TELL US ABOUT YOUR PREVIOUS WORK EXPERIENCE AND HOW YOU ENDED UP IN LOCAL GOVERNMENT. I have worked in all three sectors of the economy: private/ global multinational, not-for-profit, and government sectors. I started my professional career as a management hire at a top British multinational corporation (a FTSE 100 organization). The global platform helped me hone my competencies in management accounting, leadership, and revenue operations, leading to a nearly decade-long career. My entry into local government happened during the pandemic in Ontario. I began my local government career as the Director of Finance/Treasurer/CFO for a municipality of 14,000 people in Southwestern Ontario.

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2) WHAT IS IT, SPECIFICALLY, THAT DREW YOU TO LOCAL GOVERNMENT FINANCE? I was fascinated by the extent of the local government’s influence on residents’ day-to-day lives and by the impact of the sector on our communities. I also enjoy the collaborative and people-first approach of the sector. .

3) WHAT TYPE OF WORK HAVE YOU LED AT RDKB? HAVE THERE BEEN ANY PROJECTS THAT WERE PARTICULARLY UNIQUE? I have been with RDKB for almost a year and a half, and there has been no shortage of work during this period.

My salient projects so far include restructuring the finance function, revitalizing the financial planning process, and developing funding arrangements and taxation strategies for a $76 million wastewater treatment plant.

We are currently working on building asset management capabilities and establishing infrastructure levies to minimize our infrastructure gap.

4) YOU ATTENDED GFOABC’S BOOT CAMP IN 2024.

TELL US ABOUT THIS EXPERIENCE AND OTHER EXPERIENCES WITH GFOABC MEMBERS AND PROGRAMING? GFOABC’s Boot Camp was a great experience. It served as a catalyst, helping me hit the ground running by minimizing my knowledge gaps. Boot Camp helped me identify the similarities and differences between local governments in Ontario and British Columbia. I am thankful to the GFOABC for organizing such a highquality learning experience. The passion and dedication of each and every speaker brought to the session were contagious. The memory is especially sweet as our team, Team Blue, won the Golden Boot Award.

5) AT A REGIONAL DISTRICT, PART OF YOUR WORK ENTAILS WORKING WITH MUNICIPALITIES WITHIN THE RDKB BOUNDARIES. WHAT INITIATIVES HAVE YOU LED TO FOSTER COLLABORATION WITH THESE MUNICIPALITIES?

I work with professionals from eight member municipalities. RDKB provides 74 services for the participating municipalities and electoral areas. So, collaboration is the backbone of the regional district’s business model. I took the time to reach out and develop a working relationship to foster collaboration. For example, I have delivered a keynote speech on the RDKB approach to Budget Engagement & Cost Leadership, conducted many workshops with member municipalities, and invited member municipalities’ officials to RDKB budget deliberation meetings.

6) WHAT DOES IT MEAN TO WIN THE GFOABC NEW MEMBER AWARD? I was excited to receive the award and very grateful to RDKB, GFOABC, and my fellow local government community for collaboration, support, and learning.

7) LOOKING FORWARD, WHAT EXCITES YOU ABOUT THE WORK AT RDKB? RDKB is navigating many of the challenges of our time, such as staffing shortages, affordability crisis, and integration of Artificial Intelligence in our workflows. I am excited to explore various solution models to these wicked challenges.

FARHAD HOSSAIN is the Chief Financial Officer at the Regional District of Kootenay

Boundary. He holds extensive qualifications, including an MBA from the University of Calgary, an MSc from Queens University, and multiple Chartered Accountancy designations.

He is a highly experienced and authentic leader with over 18 years of cross-functional experience in business finance, strategy implementation, and project management in multiple sectors, such as local government, housing, and consumer goods.

Farhad also holds memberships to a range of professional bodies, such as the Institute of Corporate Directors (ICD, Canada), the Global Innovation Management Institute (GIMI, USA), and multiple professional accounting associations. .

DECEMBER | 2025

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ONLINE FORUM UPDATE | MATT HOLME

What’s Trending in the Online Forum?

THE ONLINE FORUM WILL BE A STRATEGIC FOCUS IN 2026. AS WE MOVE INTO THE NEW YEAR, NOW IS A GOOD TIME TO ONCE AGAIN HIGHLIGHT THIS DEDICATED SPACE FOR MEMBER-TO-MEMBER KNOWLEDGE SHARING. AS OUTLINED IN THE MEMBERSHIP RENEWAL LETTER ON PAGE 6, IT IS A GREAT PLACE TO EXCHANGE IDEAS, DISCUSS CHALLENGES AND SEEK SOLUTIONS TO DAY-TO-DAY ISSUES. THE ONLINE FORUM PROVIDES A FOUNDATION OF COLLECTIVE KNOWLEDGE. WHAT BETTER RESOURCE IS THERE THAN YOUR PEERS IN LOCAL GOVERNMENT FINANCE, WHO ARE WORKING THROUGH SIMILAR ISSUES AND HAVE THE SIMILAR QUESTIONS?

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Below are few recent highlights from members who initiated topics in the Online Forum. These topics are generated by members like you and provide a snapshot of current issues in local government finance.

OTHER OPTIONS THAN MUNICIPAL PENSION PLAN CONTRIBUTIONS FOR NEWLY HIRED RETIREES Haley McDonald, Director of Finance – Village of Radium Hot Springs

As local governments navigate recruitment and retention of staff, one avenue to fill vacancies is to hire retired local government finance staff to help on a temporary or full-time basis. One issue that arises is regarding pension contributions. Once an individual retires and begins to receive Municipal Pension Plan benefits, they become ineligible for (re)enrolme nt.

What options are available to local government employees in this situation? I asked this question in the Online Forum. Several members responded that they have experienced this situation, and that they will pay the equivalent MPP employer premium into an RRSP setup by the employee. However, there is one word of caution with this approach: the employer portion of the contribution to the RRSP is a taxable benefit.

pipeline valuations in their jurisdiction were an increase in valuation, but many valuations decreased as well. It was noted in the responses in the thread how this change could impact property tax rates in other classifications.

If you are interested in what local government finance officials are saying regarding this topic, you can check out the thread in the Online Forum.

COMPUTERS AND TECHNOLOGY FOR MAYOR AND COUNCIL What is your local government’s policy for providing computers and other technology for mayors and council?

Are these provided by the local government? Or is there a stipend? And is this set out in policy? It seems simple – but there are practical and ethical considerations.

This question was asked in the Online Forum and the responses to these questions varied. One local government offers a device purchase at the beginning of each term and a $300 a year technology allowance.

Another provides a tablet at the beginning of each term.

An example of a policy was provided in the Online Forum thread as well. In this case, the policy notes laptops are provided but it also covers off what happens if a council member resigns, and how the local government is not responsible for any costs for service or support related to the improper use of the device.

TRANSMISSION PIPELINE VALUATION Mike Olson, Director of Finance – District of Hope

The District of Hope received a letter from BC Assessment regarding changes to transmission pipeline valuations.

I asked in the Online Forum: Have others received a similar letter? And, if you have received this letter, how are you approaching this issue? Many responded in the thread I created – noting the changes to transmission

DECEMBER | 2025

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QUARTERLY QUESTION | CIVIC INFO BC

?

quarterly question

SUMMARY OF SURVEY FINDINGS:

PERMISSIVE TAX EXEMPTIONS AND GRANTS-IN-AID IN BC LOCAL GOVERNMENTS A TOTAL OF 79 LOCAL GOVERNMENTS RESPONDED TO THE SURVEY, PROVIDING INSIGHTS INTO HOW THEY MANAGE PERMISSIVE TAX EXEMPTIONS (PTE) AND GRANTSIN-AID (GIA) PROGRAMS. THE RESPONSES REVEAL SIGNIFICANT DIVERSITY IN APPROACHES, THOUGH SEVERAL CLEAR TRENDS EMERGE.

BUDGETING AND CAPS For PTE, the dominant pattern is the absence of formal caps: over 60% of respondents reported “no cap”.

A smaller group uses percentage-based limits tied to property tax revenue (commonly between 0.6% and 5%), while others apply fixed dollar caps or council discretion.

In contrast, GIA programs are more likely to have defined caps, with about 38% specifying a dollar limit (ranging from $5,000 to $750,000), and another 27% using discretionary or policy-based approaches. Only a minority link GIA budgets to property tax percentages.

INTAKE AND DECISION MODELS The most common intake model is a single unified annual intake, adopted by nearly half of respondents.

This approach provides predictability and aligns with annual budget cycles. About 22% use rolling or continuous intake, offering flexibility for emerging needs, while 19% run multiple program intakes throughout the year. A few municipalities employ hybrid or ad hoc models, often tied to council discretion or special funding streams.

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TRANSPARENCY AND REPORTING

UNIQUE PRACTICES

Transparency practices are generally strong: 65% of respondents make processes public, either through council agendas, published lists, or annual reports.

However, reporting and proportionality remain limited, with 81% indicating no formal reporting requirements for recipients. Only a small fraction (16%) require structured accountability measures, such as financial statements or proportionality checks.

Several respondents described distinctive approaches:

OBSERVATIONS AND TRENDS • Permissive Tax Exemptions are largely uncapped, reflecting their role as a policy tool rather than a strictly budgeted program.

• Grants-in-Aid show greater fiscal control, often through dollar caps or council-set limits.

• Annual intakes dominate, but continuous models are common in smaller communities or where flexibility is prioritized.

• Transparency is widely practiced, yet formal reporting lags, suggesting an opportunity for improved accountability.

THE NEXT QUARTERLY QUESTION WILL BE ON CAPITAL PLANS & BUDGETS

• One community ties GIA awards to specific community guidelines, requiring council resolutions for inclusion in the budget.

• Another uses a dual-tier system, with regional grants for organizations and electoral area grants available upon application.

• A third restricts PTE eligibility to registered charities and societies, while allowing GIA for local groups and individuals, creating a clear delineation between the two programs.

Overall, the data suggests a strong commitment to supporting community organizations, but with considerable variation in structure and oversight.

While permissive tax exemptions remain broadly accessible and policy-driven, grants-in-aid tend to be more regulated and budget-conscious. Opportunities exist to enhance consistency in reporting and explore best practices for balancing flexibility with accountability.

Please use this link to be a contributor.

This short survey should take less than 5 minutes to complete.

If you would like to contribute topics for upcoming questions, please contact office@gfoabc.ca or call (250) 382-6871.

DECEMBER | 2025

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CALL FOR TOPICS | MATT HOLME

CALL FOR MARCH NEWSLETTER ARTICLE IDEAS OUR DOLLARS & SENSE PERSPECTIVE NEWSLETTER IS MORE THAN AN UPDATE ON PROFESSIONAL DEVELOPMENT OPPORTUNITIES AND INDUSTRY TRENDS—IT’S ALSO A PLATFORM FOR MEMBERS TO SHOWCASE THEIR EXPERTISE AND INNOVATIONS IN LOCAL GOVERNMENT FINANCE.

Have you been part of a project, initiative, or experience that could benefit colleagues across the province? Sharing your story in the newsletter is a great way to highlight your work and contribute to the collective knowledge of the profession.

Member contributions in past editions have spanned a wide range of subjects. These articles remind us that finance professionals influence much more than the bottom line; they play a vital role in building stronger, more resilient communities.

Articles published in Dollars & Sense Perspective can also spark further opportunities—whether as a conference session, a workshop, or a webinar— expanding conversations and showcasing leadership within the field.

Submission Details: • Article in Word format (approx. 500 words) • Photo or image to accompany your piece (separate file) • Author bio (max 50 words) • Organization logo (separate file) • Content should offer “thought leadership,” addressing a current challenge or opportunity in local government finance The Government Finance Officers Association of British Columbia (GFOABC) represents over 1,500 members working in municipalities, regional districts, and improvement districts across the province. This diverse community offers countless examples of creativity and problem-solving worth sharing.

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Deadline for topic ideas: February 2, 2026 Questions or ready to submit? Contact us here.

MATT HOLME Manager, Member Services and Communications.

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