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.
Consolidated 5 Year Financial Plan
The Consolidated 5 Year Financial Plan combines the 2025 Utility Budget (approved by Council on Nov 12, 2024), the 2025 Operating Budget, 2025 Capital Budget and the 2025 One-Time Expenditures (all of which were approved by Council on Dec 9, 2024). The 2025 Richmond Public Library Budget was also approved by Council on Dec 9, 2024.
2025 Proposed Capital Budget (9.6MB)
2025 Proposed Operating Budget (1.9MB)
2025 Utility Budgets and Rates (2.2MB)
2025 One-Time Expenditures (0.9MB)
2025 Richmond Public Library Budget (0.9MB)
The following document provides an overview of the Consolidated 5 Year Financial Plan (2025-2029):
Highlights of the Consolidated 5 Year Financial Plan (2025-2029) (1.0MB)
Amendment to the Consolidated 5 Year Financial Plan (2025-2029) Bylaw No. 10622
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 (2025-2029) Bylaw No. 10622 on January 27, 2025, additional opportunities and projects have emerged.
Amendments to the Consolidated 5YFP (0.8MB)
Council has officially adopted Amendment Bylaw No. 10709 at the Regular Council Meeting on Monday, October 27, 2025, at the Richmond City Hall Council Chambers. Public delegations at the Council Meeting were also permitted with regard to this bylaw.
The Consolidated 5 Year Financial Plan (2025-2029) Bylaw No. 10622, Amendment Bylaw No. 10709 is available in the following link:
Consolidated 5 Year Financial Plan (2025-2029) Bylaw No. 10622, Amendment Bylaw No. 10709 (3.9MB)