The Local Government Act requires the City of Coquitlam to complete a Five-Year Financial Plan and Budget each year. The Financial Plan ensures responsible money management and relates directly to the priorities identified by the community.
Why does the City prepare a Financial Plan?
- The Financial Plan provides City staff with clear direction on spending levels for each defined priority and the authority to pay for services for Coquitlam residents.
- Ensures that City staff are accountable to the residents.
How does the City develop a Financial Plan?
The Financial Plan development process begins with strategic planning and includes public consultation, extensive background briefings for Council and comprehensive discussion sessions that culminate in a proposed Five-Year Financial Plan for Council approval. It also includes a number of key budget assumptions. Using this as a basis, work plans are developed for each department, with resource needs identified. Together with the Strategic Plan and Business Plan, this approach to financial planning provides for a thorough, strategic focus in the budget deliberations.
Where can I get more information about the City’s Financial Plan?
Download - Five-Year Financial Plan 2019 - 2022
2019 Budget Speech
On Feb. 25, 2019 Mayor Richard Stewart provided introductory comments prior to Council consideration of the 2019-2023 Five-Year Financial Plan Bylaw.
The Annual Tax Rates Bylaw was adopted on May 6, 2019, after the BC Assessment Authority information on property values became available. See the 2019 Annual Tax Rates Bylaw, which includes 2019 Municipal Tax Rates.
The 2019-2023 Five Year Financial Plan document will also be posted to the website in spring 2019.
See also Information Bulletin – Coquitlam’s 2019 Budget Provides for a Growing Community.