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

2020 Budget

On May 12, 2020, Council approved the 2020 Financial Plan presented by the Financial Services department. The 2020 Financial Plan has been prepared to maintain the same level of service as the 2019 Financial Plan with the exception of unavoidable new services and COVID-19 related reductions. To ease the financial burden faced by taxpayers during the COVID-19 pandemic, Port Moody City Council made cuts to the 2020 Financial Plan that resulted in a reduced tax rate increase of 1.61 per cent, down from the previously-approved 3.62 per cent. Review the 2020-2024 Five Year Financial Plan for more detailed information about our budget and financial plans.

Public Budget Consultation

Thank you to everyone who took the time to give us your feedback on the 2020-2024 draft financial plan.

The 2020 Budget Guide provides information about the budget process and the City's proposed net operating expenses for 2020.

Our 2020 budget breakdown shows you average household costs broken down by City departments.

 2020-2024 Operating Budget

For further details, view the full 2020-2024 Budget

 Capital Budget

 For further details, view the full 2020-2024 Capital Budget

Department 2020 2021 2022 2023 2024
City Administration $125,000 $125,000 $125,000 $125,000 $125,000
Corporate Services $41,000 $36,000 $41,000 $36,000 $41,000
Community Services $2,684,700 $1,116,600 $1,538,000 $1,209,900 $1,751,300
Planning & Development $190,000 $0 $0 $0 $0
Engineering & Operations $3,294,500 $6,714,100 $2,798,000 $3,034,800 $3,597,000
Environment & Parks $879,500 $1,309,500 $1,542,800 $147,000 $117,000
Finance & Technology $270,000 $105,000 $20,000 $60,000 $170,000
Library $41,100 $0 $0 $0 $0
Police $528,700 $262,100 $154,600 $240,900 $750,300
Utilities $8,374,700 $7,299,400 $4,167,200 $5,945,200 $6,458,100
Total $16,429,200 $16,967,700 $10,386,600 $10,798,800 $13,009,700
 Timeline

Jul 16, 2019

Finance Committee

Budget guidelines approved

Agenda

-

Video

Jul 2019

Staff Action

Budget packages distributed to departments 

-

-

-

Jul - Sep 2019

Staff Action

Budgets prepared by departments 

-

-

-

Sep - Nov 2019

Staff Action

 Staff budget reviews

-

-

-

Oct 15, 2019

Finance Committee 

Utility Budget and Rates Approved 

Agenda

 -

Video

Oct 22, 2019 

Regular Council 

Library Board Budget Presentation 

Agenda

 Presentation

Video

Nov 5, 2019

Finance Committee

Introduce Draft 2020-2024 Capital Budget 

Agenda
 Presentation  Video

Nov 26, 2019 

Regular Council 

Police Board Budget Presentation 

Agenda

 Presentation

Video

Dec 3, 2019 

Finance Committee

Introduce Draft 2020-2024 Operating Budget 

Agenda

 Presentation

Video

Jan 7, 2020

Finance Committee

Budget Deliberations

 Agenda

 Presentation

 Video

Jan 21, 2020

Finance Committee

Budget Deliberations

 Agenda

 Presentation

 Video

Feb 4, 2020

Town Hall Meeting

Public Consultation with CAG

Presentation

Video

Feb 18, 2020

Finance Committee

Budget Deliberations

 Agenda

Presentation

 Video

Apr 7, 2020

Finance Committee

Budget Deliberation

 Agenda

 -

 Video

Apr 21, 2020

Finance Committee

Approval of Financial Plan and Tax Rates

 Agenda

 -

 Video

May 12, 2020

Regular Council 

Financial Plan and Tax Rates Bylaws readings and adoption

 

 Presentation

 

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:

Property Value Assessment

To understand your property value assessment and how your taxes are calculated, watch our video: