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.

Budget 101

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

The City’s Consolidated 5 Year Financial Plan (2025-2029) Bylaw No.10622 was approved on Mon, Dec 9, 2024, and is available for review below:

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)

Little girl sitting in the driver's seat of a firetruck

Give Us Your Feedback

We want to hear from you about the City’s proposed Consolidated 5 Year Financial Plan (2025-2029). We welcome input before 11:59pm on Jan 19, 2025, by:

It is anticipated that Bylaw No. 10622 will be considered by City Council for adoption at the Regular Council Meeting on Mon, Jan 27, 2025 at 7:00pm in Richmond City Hall Chambers.