|
Port Moody’s budget process is a major undertaking, the results of which impact every resident and business in the City. Mayor and Council want to hear what you think about proposed budget expenditures for 2010-2014.
View the budget town hall meeting agenda
View budget town hall meeting PowerPoint presentation
Read minutes of the budget town hall meeting
2010 Financial Plan
Residents who were unable to attend the meeting had an opportunity to share their thoughts and ideas with Coucil by submitting an online public input form.
2010 budget information
Council for the City of Port Moody believes in the value of planning. We look to the future, and bring it into the present so we can do something about it. The 2009 Council Strategic Plan establishes Port Moody Council’s vision, value and goals and guides their decisions for future planning. Excellence in Service Delivery is one of the four principles of the plan, and Council has identified the following as top priorities:
Essential Services – Service, facility or activity of local government that is or will be, at any time, necessary for the safety security, health and mobility of the community.
- Police
- Fire
- Water
- Sewer
- Local roads
- Garbage and recycling
Priority Services – Service, facility or activity of local government that is or will be, at any time, provided to enhance the prosperity and quality of life of the community.
- Planning/development
- Environmental management
- Parks
- Recreation
- Library services
- Arts & Culture
- Licencing/bylaws
- Heritage
Support Services - Service, facility or activity of local government that is or will be, at any time, provided to support the essential and priority services
- Tax Collection/Billing
- Human Resources
- Payroll
- Finance
- Administration
- Clerks
- Information Technology
Breaking down your tax dollars
How your tax dollars are divided amongst departments
How revenues are spent to deliver services
The big picture – where we are now
Port Moody funds its budget from taxes, utilities, fees, grants and reserve transfers.
Port Moody’s tax base is comprised of different tax classes. The majority of tax revenue (70%) is derived from the Residential or Class 1 property tax payer
Council determines how revenues are generated to fund services. Taxation, including utility user fees, is their major consideration as they make up 75% of the City’s revenues.
Council had set the target tax rate increases shown below in green. The City’s 5 Year Financial Plan has the current tax rate increases, shown below in red. Only 2010 has been deliberated over by Council; 2011 to 2014 have not yet been reviewed by Council.
Target tax rate increases set by Council
Current 5-year plan
Please note that all rates above are proposed and have not been approved by Council
So what does this mean for you in terms of actual dollars? Here is what an average household would pay based on the current 5 Year Financial Plan
Please note that all rates above are proposed and have not been approved by Council
How can we balance the budget?
- Reduce Services
- Increase Revenues
- Adjust Expenditures/Alternative Service Providers
2010 Financial Plan
|