Planning our financial future to 2025

This engagement project concluded Sunday, March 14, 2021.

Thank you to everyone who contributed.

We want to hear from you about the City’s proposed Consolidated 5 Year Financial Plan to the year 2025. Please read the information provided on the page and complete the comment form by Sunday, March 14, 2021 at 11:59 p.m.

The Document Library on this page provides a copy of the proposed financial plan, a summary with highlights of the proposed plan, the Operating, Capital and Utility budgets as well as the 2021 One-Time Expenditures.

Background
Each year, the City of Richmond approves three annual budgets to guide civic spending:

1. The Operating Budget funds the provision of general City services and determines annual property tax rates. The Operating Budget includes One-Time Expenditures approved by Council.
2. The Capital Budget funds investments in new infrastructure or equipment.
3. The Utility Budget supports provision of water, sewer, diking, drainage and garbage and recycling services.

Once Council has approved each of its three budgets for the coming year, it also develops a Consolidated 5 Year Financial Plan to:

• meet obligations under the Community Charter, which governs local governments in BC, and requires the City to adopt a 5 Year Financial Plan.
• provide a budget road map for the City to manage its resources, revenues and spending to best serve the community.
• establish that the City has the ability to meet needs of the community and maintain civic service levels for the coming five years, while meeting its legal requirement to deliver balanced annual operating budgets.

More information

For a printed copy of the proposed Consolidated 5 Year Financial Plan (2021-2025), please call 604-276-4218 or email finance@richmond.ca.