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 - 2023
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.