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 2024 Utilities Budget (approved by Council on Nov 14, 2023), the 2024 Operating Budget, 2024 Capital Budget and the 2024 One-Time Expenditures (all of which were approved by Council on Dec 12, 2023). The 2024 Richmond Public Library Budget was approved by Council on Dec 11, 2023.
2024 Proposed Capital Budget (7.6MB)
2024 Proposed Operating Budget (2.1MB)
2024 Utility Budgets and Rates (1.1MB)
2024 One-Time Expenditures (1.1MB)
2024 Richmond Public Library Budget (0.8MB)
The following document provides an overview of the Consolidated 5 Year Financial Plan (2024-2028):
Highlights of the Consolidated 5 Year Financial Plan (2024-2028) (0.8MB)
Consolidated 5 Year Financial Plan (2024-2028) Bylaw No. 10515 Amendment Bylaw No. 10604
The Community Charter requires that Council adopt a 5 Year Financial Plan each year prior to the adoption of the Annual Property Tax Rates Bylaw. The Community Charter also allows for amendments to the 5 Year Financial Plan.
Subsequent to the adoption of the City's Consolidated 5 Year Financial Plan (2024-2028) Bylaw No. 10515 on January 29, 2024, additional opportunities and project shave emerged.
Amendments to the Consolidated 5YFP (2024-2028) Bylaw No. 10515
Council has officially adopted Amendment Bylaw No. 10604 at the Regular Council Meeting on Monday, October 21, 2024 at the Council Chambers at Richmond City Hall. Public delegations at the Council Meeting were also permitted with regard to this bylaw.
The Consolidated 5 Year Financial Plan (2024-2028) Bylaw No. 10515, Amendment Bylaw 10604 is available for viewing:
Consolidated 5 Year Financial Plan (2024-2028) Bylaw No. 10515, Amendment Bylaw 10604