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Budgets & Financial Reporting

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 Consolidated 5 Year Financial Plan combines the 2018 Operating Budget, the 2018 Capital Budget, the 2018 Utility Budget, the 2018 One-Time Expenditures, and the 2018 Council Community Initiatives One-Time Expenditures. The next four years of the 5 Year Financial Plan are estimates based on the economic forecasts for BC and internal plans.
Each year, this rolling plan is reviewed and updated.

Consolidated 5 Year Financial Plan (2018-2022) Bylaw No. 9800
Council has officially adopted Bylaw No. 9800 at the Regular Council Meeting on Monday, March 12, 2018 at the Richmond City Hall Council Chambers. Public delegations at the Council Meeting were also permitted with regard to this bylaw. 

PDF Document Consolidated 5 Year Financial Plan (2018-2022) Bylaw 9800 

​Consolidated 5 Year Financial Plan (2018-2022) Bylaw No. 9800, Amendment Bylaw No. 9904
Subsequent to the adoption of the City's Consolidated 5 Year Financial Plan (2018-2022), additional opportunities and projects have emerged. The current expenditures bylaw does not include these amounts. Therefore the City is proposing to amend its Consolidated 5 Year Financial Plan Bylaw. The proposed amendment to the Consolidated 5 Year Financial Plan (2018-2022) Bylaw No. 9800, Amendment Bylaw No. 9904 is available in the link below. 

PDF Document Consolidated 5 Year Financial Plan (2018-2022) Bylaw No. 9800, Amendment Bylaw No. 9904 

The City is required by the Community Charter to undertake a process of public consultation before the amendment is adopted by Council, and to this end, please submit your feedback via e-mail to finance@richmond.ca by November 5, 2018. All comments will be provided to Council prior to the final adoption of this proposed bylaw. 

It is anticipated that Amendment Bylaw No. 9904 will be considered by Council for adoption at the Regular Council Meeting of November 13, 2018 at 7:00 pm in the Council Chambers at City Hall. Public delegations at the Council Meeting are also permitted with regard to this bylaw.

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