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 2020 - 2024
Learn More About City Budgets
Want to learn more about where your tax dollars go? The City of Coquitlam has made available a data visualization tool for the public to easily view information about City budgets and spending. Check it out to view:
- Capital Budgets (breakdown of the 5-year capital budget down to the project level)
- Project Explorer (a highlight of select new and ongoing projects)
- Operating Budgets (breakdown of the operating budget down to the business unit)
- 2018 Annual Expenses (the City’s most recent audited financial statement data)
Feel free to provide us with your feedback by clicking on the Feedback icon in the top right corner of the visualization.
2020 Budget Speech
On Dec. 9, 2019 Mayor Richard Stewart provided introductory comments prior to Council consideration of the 2020-2024 Five Year-Financial Plan Bylaw.
The City’s Annual Tax Rates will be adopted in 2020, after the BC Assessment Authority information on property values becomes available.
The 2020-2024 Five Year Financial Plan document will also be posted to the website in spring 2020.
See also our Information Bulletin – Coquitlam’s 2020 Budget Addresses Community Priorities.