Annual Budgets
Each year, we develop an annual budget to meet community needs and balance the delivery of services with property taxes and user fees. Council historically adopts the budget between March and May. City staff work on the budget year round, either drafting it, presenting it, amending it, or monitoring and reporting on it. The City can operate well into the current year without having an adopted budget until as late as May because each year we adopt a Five Year Plan, and therefore have five years of budget approval under which to operate if necessary. The City simply operates under the Five Year Plan it adopted the previous year until Council adopts the new plan. Council considers approval for the Capital Budget before the year begins to avoid delaying any projects
Draft 2021 Budget
The Financial Services department introduced the Draft 2021-2025 Operating Budget to the Finance Committee on Tuesday, January 19, 2021. The Capital budget was introduced to the Finance Committee on Tuesday November 17, 2020 and was approved by Council on January 5, 2021.
Review the 2021 Draft Financial Plan for more detailed information about our budget and financial plans.
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You are now able to provide input on the 2021 budget through Engage Port Moody. Visit the site to register to participate. The 2021 Budget Guide provides information about the budget process and the City's proposed net operating expenses for 2021. Our 2021 Budget Breakdown shows you the average household costs broken down by City departments. |
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Draft 2021-2021 Operating Budget |
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| Proposed 2021-2025 Capital Budget | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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For further details, view the full 2021-2025 Capital Budget
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Operating budget
Our operating budget covers spending related to the day-to-day operations of City departments. These daily expenses help to keep our streets and homes safe, and ensure that we have clean water running through the taps, garbage and recycling trucks on the road, and recreational and cultural facilities open for the public. Typical examples of operating expenses are:
- employee salaries and wages
- supplies, materials, and equipment
- property, liability and vehicle insurance
- maintenance
Capital budget
The City's capital budgets fund larger, long-term projects, mostly related to maintaining, upgrading, and replacing the City's infrastructure and facilities. It's important to make long-term plans for scheduled maintenance and replacement of these valuable, tangible capital assets (TCAs) to ensure they are in place to deliver services. The capital budget works to advance Council’s 2019-2023 strategic plan within our long-term financial capacity.
Types of projects funded
Past budgets
Review our past budgets:
- 2020 Five Year Financial Plan
- 2019 Five Year Financial Plan
- 2018 Five Year Financial Plan
- 2017 Five Year Financial Plan
Property Value Assessment
To understand your property value assessment and how your taxes are calculated, watch our video:
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