Manitoba Stronger Together

Budgets, Risk & Financial Stewardship

Purpose:

This worksheet is designed to help you reflect on your readiness to engage responsibly with municipal finances — including budgets, taxes, capital decisions, and long-term accountability.

There are no correct answers. Honest answers will serve you — and your community — far better than confident ones.

Section 1 — Budget Foundations

1. Before this module, how comfortable were you with municipal budgets?
How has that changed?

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2. Which aspect of budget construction do you now see as most influential?

☐ Operating budgets
☐ Capital budgets
☐ Budget assumptions
☐ Timing of council input
☐ Incremental budgeting
☐ Unsure

Why?

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Section 2 — Revenue & Fairness

3. Which revenue tool concerns you most from a fairness perspective?

☐ Property taxes
☐ User fees
☐ Permits and service charges
☐ Grants and transfers
☐ Debt

Explain your concern:

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4. How comfortable are you explaining a tax or fee increase to a resident who is struggling financially?

☐ Very comfortable
☐ Somewhat comfortable
☐ Uncomfortable
☐ Unsure

What would help you communicate more effectively?

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Section 3 — Capital Decisions & Long-Term Thinking

5. When evaluating a capital project, which factor do you tend to focus on first?

☐ Upfront cost
☐ Community benefit
☐ Grant availability
☐ Political impact
☐ Lifecycle cost

Which factor do you believe should carry the most weight — and why?

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6. How comfortable are you with delaying or opposing a popular capital project due to long-term cost concerns?

☐ Very comfortable
☐ Somewhat comfortable
☐ Uncomfortable
☐ Unsure

What would strengthen your resolve in that situation?

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Section 4 — Reading Financial Information

7. Which financial document do you find most intimidating?

☐ Statement of Financial Position
☐ Statement of Operations
☐ Cash Flow Statement
☐ Audit reports
☐ Budget variance reports

What specifically makes it challenging?

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8. When reviewing financial information, what do you tend to focus on first?

☐ Bottom-line totals
☐ Trends over time
☐ Variances
☐ Risks and assumptions
☐ Recommendations

Which focus best supports good governance?

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Section 5 — Oversight & Accountability

9. How would you respond if mid-year financial reports show a growing deficit?

☐ Wait for more information
☐ Ask for explanations
☐ Support corrective action
☐ Defer to administration
☐ Seek public discussion

Which responses reflect responsible oversight — and which may carry risk?

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10. How do you feel about using reserves to cover operating shortfalls?

☐ Comfortable if necessary
☐ Concerned
☐ Strongly opposed
☐ Unsure

Under what conditions, if any, would you support it?

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Section 6 — Integrity & Stewardship

11. Imagine being encouraged to support a financially risky decision to avoid a tax increase before an election.
How would you evaluate that request?

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12. What personal principles will guide your financial decision-making as an elected official?

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Final Reflection

13. After completing Module 3, how prepared do you feel to exercise financial stewardship?

☐ Very prepared
☐ Moderately prepared
☐ Aware but cautious
☐ Still unsure

What additional learning or support would help most?

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Closing Note

Financial decisions outlast political terms.

Stewardship means making choices today that future councils — and residents — can live with.

Revisit this worksheet during budget season and again at the end of your first year in office.