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Budgets & Financial Reporting

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.

The Consolidated 5 Year Financial Plan combines the 2023 Utilities Budget (approved by Council on November 14, 2022), the 2023 Operating Budget, 2023 Capital Budget and the 2023 One-Time Expenditures (all of which were approved by Council on December 12, 2022). The 2023 Richmond Public Library Budget was approved by Council on December 12, 2022.

PDF Document 2023 Proposed Capital Budget
PDF Document 2023 Proposed Operating Budget
PDF Document 2023 Utility Budgets and Rates
PDF Document 2023 One-Time Expenditures
PDF Document 2023 Richmond Public Library Budget

The following document provides an overview of the Consolidated 5 Year Financial Plan (2023-2027):

PDF Document Highlights of the Consolidated 5 Year Financial Plan (2023-2027)

Consolidated 5 Year Financial Plan (2023-2027) Bylaw No. 10429
The City's Consolidated 5 Year Financial Plan (2023-2027) Bylaw No. 10429 was approved on Monday, December 12, 2022 and is currently available in the link below:

PDF Document Consolidated 5 Year Financial Plan (2023-2027) Bylaw No. 10429
PDF Document Consolidated 5 Year Financial Plan (2023-2027) RTC

It is anticipated that Bylaw No. 10429 will be considered by City Council for adoption at the Regular Council Meeting on Monday, January 30, 2023 at 7:00 p.m. in the Richmond City Hall Council Chambers. Public delegations at the Council Meeting are permitted with regard to this bylaw either in-person or remotely by teleconference. Advanced registration is required for individuals attending remotely and early registration is encouraged. Registration closes at 1:00 p.m. on the date of the meeting. Information on how to register is available on the City website: https://citycouncil.richmond.ca/meetings/phone-participation.htm. Please note that advanced registration is not required for in-person attendance and members of the public are welcome to submit written comments in advance of the meeting. 

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