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 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

City Council has officially adopted Bylaw No. 10515 at the Regular Council Meeting which took place in City Hall Council Chambers on Mon, Jan 29, 2024. Public delegations at the Council Meeting were also permitted with regard to this bylaw.

The City's Consolidated 5 Year Financial Plan (2024-2028) Bylaw No. 10515 is available for viewing using the links below:
Consolidated 5 Year Financial Plan (2024-2028) Bylaw No. 10515 (0.8MB)
Consolidated 5 Year Financial Plan (2024-2028) RTC (1.4MB)