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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 2022 Utilities Budget (approved by Council on November 8,2021), the 2022 Operating Budget, 2022 Capital Budget and the 2022 One-Time Expenditures (all of which were approved by Council on December 6, 2021). The 2022 Richmond Public Library Budget was approved by Council on December 6,2021.

PDF Document 2022 Proposed Capital Budget
PDF Document 2022 Proposed Operating Budget
PDF Document 2022 Utility Budgets and Rates
PDF Document 2022 One-Time Expenditures
PDF Document 2022 Richmond Public Library Budget

The following documents provide an overview of the Consolidated 5 Year Financial Plan (2022-2026):

PDF Document Highlights of the Consolidated 5 Year Financial Plan (2022-2026)

Consolidated 5 Year Financial Plan (2022-2026) Bylaw No. 10327, Amendment Bylaw No. 10381
The Community Charter requires that Council adopt a 5 Year Financial Plan each year prior to the adoption of the Annual Property Tax Rates Bylaw. The Community Charter also allows for amendments to the 5 Year Financial Plan.

Subsequent to the adoption of the City's Consolidated 5 Year Financial Plan (2022-2026) Bylaw No. 10327 on January 24, 2022, additional opportunities and projects have emerged.

PDF Document Amendments to the Consolidated 5 Year Financial Plan (2022-2026) Bylaw No. 10327

Council has officially adopted Amendment Bylaw No. 10381 at the Regular Council Meeting on Monday, July 25, 2022 at the Richmond City Hall Council Chambers. Public delegations at the Council Meeting were also permitted with regard to this bylaw.

The Consolidated 5 Year Financial Plan (2022-2026) Bylaw No. 10327, Amendment Bylaw No. 10381 is available in the following link:

PDF Document Consolidated 5 Year Financial Plan (2022-2026) Bylaw No. 10327, Amendment Bylaw No. 10381

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