April 2024: City Council adopted the 2024 – 2028 Financial Plan Bylaw on April 22, 2024.

Update March 27, 2024: On March 11, Council directed staff to bring forward a Financial Plan Bylaw (2024 to 2028) that reflects an overall tax rate increase of 6.9%. This bylaw will be presented to Council on April 22, 2024.

Update February 7, 2024: Thank you for providing feedback on the draft 2024 budget. The draft 2024–2028 Financial Plan and a summary of public feedback were presented for Council’s consideration during the City Council meeting on Monday, February 5, 2024. During the meeting, Council requested that staff update the Financial Plan to reflect options for a baseline tax rate increase of 6.5 to 7.5%. The updated Financial Plan will be presented for Council’s consideration during the City Council meeting on March 11, 2024.

Update February 2, 2024: Thank you for sharing your feedback on the draft 2024 budget. The form is now closed. Your comments are being reviewed, and a summary of feedback will be shared during the City Council meeting on Monday, February 5. Comments will be considered, where possible, as Council reviews the budget.

If you are still interested in sharing feedback, you are invited to speak at the Council meeting on February 5. To register, visit cnv.org/PublicMeetings or call 604-990-4230.

Help shape the City’s 2024 Budget

We are developing our annual budget and 5-year Financial Plan and want to hear from you. Your feedback will help us keep the community’s priorities top of mind as we take care of today’s needs and plan for tomorrow.

About the annual budget and Financial Plan

Each year, the City develops a balanced budget that governs how much it needs to spend to provide services for that year and how much revenue it will need to fund those services. The annual budget is part of the City’s 5-year Financial Plan that forecasts future budgeting to ensure accountability and service delivery to taxpayers. The plan considers external economic opportunities and pressures and the long-term vision for the City, balanced with the need to provide the essential services that residents rely on every day.

The Financial Plan is guided by Council’s Strategic Plan, which outlines the vision and four-year direction of Council and informs the work of the organization.

There are three main categories of the Financial Plan:

• Operating Budget: Ensures the dependable delivery of essential services and programs, including public safety, transportation and transit, recreation and culture, and more.
• Capital Budget: An investment plan for maintaining, improving and building essential infrastructure, including the new Harry Jerome Community Recreation Centre, roads and sidewalks, parks and trails, and more.
• Utilities Budget: Ensures effective and sustainable delivery of water, sewer services and waste collection.

Draft 2024 Budget in Brief

These are challenging financial times, including for local governments. Ongoing economic realities like inflation and supply chain issues make it difficult to develop a budget that balances fiscal prudence and the need to maintain City service levels while continuing to invest in community infrastructure.

The draft 2024 budget includes a base budget of $395.2 million. The three main categories of this budget are:

• Operating budget of $101.7 million
• Capital budget of $144.0 million
• Utilities budget of $48.7 million

The draft budget projects an 8.5 per cent increase in taxes on the average home in the City in 2024. This increase is largely due to external factors driving up the cost of everything from labour to goods and services purchased by the municipality.

Learn more in our 2024 Budget in Brief info sheet.

Where did my taxes and levies go in 2023?

Share your feedback

The community is invited to share feedback on the City’s draft 2024 budget.

• Share feedback through the feedback form, available below or a print copy is available to print or at City Hall. The form is open between January 25 and February 1 at 11:59pm.
• Mail or deliver written feedback to City Hall by between January 25 and February 1 at 11:59 p.m.
• Speak at the City Council meeting on Monday, February 5. To register, visit cnv.org/PublicMeetings or call 604-990-4230.

A summary of feedback will be shared during the City Council meeting on February 5. Comments will be considered, where possible, as Council reviews the draft Financial Plan.