5 Year Financial Plan
What is a 5 Year Financial Plan?
The Community Charter requires that Council adopt a 5 Year Financial Plan each year prior to the adoption of the annual Property Tax Bylaw. The purpose of the 5 Year Financial Plan is to provide a budgetary framework for the City to plan the management of its resources, revenues and expenditures in order to best serve the community. The following video provides an introduction to the City's budget process.
The Consolidated 5 Year Financial Plan combines the 2023 Utilities Budget (approved by Council on November 14, 2022), the 2023 Operating Budget, 2023 Capital Budget and the 2023 One-Time Expenditures (all of which were approved by Council on December 12, 2022). The 2023 Richmond Public Library Budget was approved by Council on December 12, 2022.
The following document provides an overview of the Consolidated 5 Year Financial Plan (2023-2027):
Highlights of the Consolidated 5 Year Financial Plan (2023-2027)
Consolidated 5 Year Financial Plan (2023-2027) Bylaw No. 10429
Council has officially adopted Bylaw No. 10429 at the Regular Council Meeting on Monday, January 30, 2023 at the Richmond City Hall Council Chambers. Public delegations at the Council Meeting were also permitted with regard to this bylaw.
The City's Consolidated 5 Year Financial Plan (2023-2027) Bylaw No. 10429 is available in the link below: