2021-2025 Financial Plan (Budget)
Our 2021-2025 Approved Financial Plan contains our operating and capital budget, highlights of our work program, and a proposed 3% tax increase for 2021.
Core services, such as public safety, transportation, parks and recreation along with critical investments in public infrastructure are primarily funded by your tax dollars.
Download the 2021-2025 Approved Financial Plan
The Financial Plan and the COVID-19 pandemic
In 2020, we responded to the financial impacts caused by the pandemic. In recognition of economic hardship due to COVID-19, Council approved a reduction in the 2020 property tax levy from its established 3% increase, to 2%. After investments in safety to protect public health and our employees, most services are now open or partially open and costs are being managed to offset revenue losses.
The draft 2021 budget reflects our continued response to the pandemic and ongoing Council priorities. Services are shown at normal activity levels in order to highlight changes to work plans. Actual impacts from the pandemic over the past year will be included in the 2020 Annual Report.
2021-2025 Financial Plan Calendar
| Date | Meeting Purpose | Location/Time | Comments |
|---|---|---|---|
| Tuesday, Oct. 26, 2020 | Financial Plan Update | Virtual Meeting, 6:00-7:00pm |
Workshop |
| Monday, Nov. 16, 2020 | Utility Rates and User Fees | Virtual Meeting 7:00pm |
Regular Council Meeting |
| Monday, Nov. 23, 2020 | Long-term Financial Plan Introduction, Budget Update | Virtual Meeting 7:00pm |
Workshop |
| Monday, Dec. 7, 2020 | Financial Plan Amendment | Virtual Meeting 7:00pm |
Regular Council Meeting |
| Monday, Jan. 25, 2021 | Long-term Financial Plan – Part 1, Funding Gap | Virtual Meeting 5:00-7:00pm |
Workshop |
| Monday, Feb. 8, 2021 | Budget Introduction Draft Financial Plan Workbook | Virtual Meeting 7:00pm |
Regular Council Meeting |
| Wednesday, Feb. 17, 2021 | Community Associations Briefing | Zoom Meeting 7:00pm |
Financial Plan Meeting |
| Monday, Feb. 22, 2021 | Public Input & Opening Remarks | Virtual Meeting 7:00pm |
Regular Council Meeting |
| Monday, Mar. 1, 2021 | Financial Plan Deliberations | Virtual Meeting 7:00pm |
Workshop |
| Monday, Mar. 29, 2021 | First Three Readings of Financial Plan Bylaws | Virtual Meeting 7:00pm |
Regular Council Meeting |
| Monday, Apr. 12, 2021 | Final Adoption of Financial Plan Bylaws | Virtual Meeting 7:00pm |
Regular Council Meeting |
Council adopted the 2021-2025 Financial Plan on April 12, 2021, after community consultation and Council deliberations in March.
Council's core priorities remain unchanged:
- Improvements to mobility and transportation, such as safe cycling and pedestrian routes
- Diversity of available housing options, including social and affordable housing
- Supporting a vibrant local economy
- Taking action on climate change and environmental management
- Organizational resiliency and sustainable service delivery
Approved Financial Plans from previous years
| Date | Financial Plan document |
|---|---|
| 2020-2024 | Download |
| 2019-2023 | Download |
| 2018-2022 | Download |
Financial planning and municipal government
All municipalities in BC must have a financial plan (or budget) that is adopted annually, by bylaw, before the annual property tax bylaw is adopted. The financial plan may be amended by bylaw at any time.
The planning period for a financial plan is 5 years, that period being the year in which the plan is specified to come into force and the following 4 years.
The financial plan must set out the following for each year of the planning period:
- proposed expenditures by the municipality
- proposed funding sources
- proposed transfers to or between funds
A process of public consultation regarding the proposed financial plan must be undertaken before the plan is adopted.
Roadmap to a sustainable future
Through our Official Community Plan (OCP) policies, we are fulfilling our community's vision of vibrant, sustainable neighbourhoods where everyone is welcomed and valued.
Our many social, environmental, and economic plans are helping us implement those policies.
