The City's Financial Plan outlines the City's sources of revenue and expenditures needed to fund services for residents. The plan for 2010 was adopted December 14, 2009. This supports departmental functions as budgets are then known before the start of the year.

How does the City develop a financial plan?

Steps in developing a financial plan:

1. City Council approves the schedule supporting preparation of the five-year financial plan.
2. Surveys are sent out to residents, advertised in local newspapers and provided in an interactive format on the City's website.
3. Results of the Financial Planning Survey are reported to Council.
4. The Financial Services Division addresses the financial position with City's General Management Team.
5. The Financial Services Division coordinates budget submissions from the departments.
6. The City's General Management Team holds a number of meetings to finalize the proposed Five-Year Financial Plan for Council's review. 
7. An overview presentation of the proposed Five-Year Financial Plan is given to Council. 
8. General Managers present departmental plans at Council Committee meetings for further review and discussion.
9. Council participates in a workshop to finalize the operating and capital components of the financial plan.
10. Financial Plan Bylaw is prepared based on Council decisions, given three readings and adopted.

Why does the City Prepare a Financial Plan?

Having a Financial Plan:

• Provides City staff with the authority to pay for services for Coquitlam residents
• Provides City staff with clear direction on spending levels for each defined priority
• Ensures City staff are accountable to the residents
• Meets the requirements of the Local Government Act - the guiding legislation for local governments

Where can I get more information about the City's Financial Plan?

• Financial Plan 2010 - 2014 (pdf)
  
  
• 2010 Financial Plan Bylaw (pdf)