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 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)

Consolidated 5 Year Financial Plan (2025-2029) Bylaw No. 10622

Council adopted Bylaw No.10622 at the Regular Council Meeting on Mon, Jan 27, 2025 in 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 (2025-2029) Bylaw 10622 is available for viewing:

Consolidated 5 Year Financial Plan (2025-2029) Bylaw 10622  (0.8MB)
Consolidated 5 Year Financial Plan (2025-2029) Bylaw 10622 - Report to Council (1.3MB)