Annual Budgets

Each year the City of Port Moody sets an annual budget. Balancing the delivery of services with property taxes and user fees to meet community needs, is the purpose budget process.

Draft 2020 budget

The City of Port Moody’s Financial Services department will be presenting the Draft 2020-2024 Operating and Capital budget to the Finance Committee on Tuesday, December 3, 2019. The Finance Committee will have the opportunity to deliberate on the draft budget and to propose changes as necessary. Review the Draft 2020-2024 Five Year Financial Plan for more detailed information about the City's budget and financial plans. 

 Proposed Operating Budget

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

 Proposed Capital Budget

 For further details, view the full Draft 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 $2,484,700 $1,116,600 $1,788,000 $1,209,900 $1,751,300
Planning & Development $190,000 $0 $0 $0 $0
Engineering & Operations $3,287,500 $6,714,100 $2,798,000 $3,034,800 $3,597,000
Environment & Parks $990,000 $1,219,000 $1,542,800 $147,000 $117,000
Fire Rescue $0 $0 $0 $0 $0
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 $16,332,700 $16,877,200 $10,636,600 $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

 Presentation

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

 

 

 

Jan 21, 2020

Finance Committee

Budget Deliberations

 

 

 

Feb 4, 2020 

Town Hall Meeting

Public Consultation - with CAG

 

 

 

Feb 18, 2020

Finance Committee

Budget Deliberations

 

 

 

Mar 3, 2020

Finance Committee

Budget Deliberations

 

 

 

Mar 17, 2020

Finance Committee

Budget Deliberations

 

 

 

Apr 7, 2020

Finance Committee

Approval of Financial Plan and Tax Rates Bylaws

 

 

 

Apr 28, 2020

Regular Council 

Financial Plan and Tax Rates Bylaws First 3 Readings 

 

 

 

May 12, 2020

Regular Council 

Financial Plan and Tax Rates Bylaws Adoption

 

 

 

Budget consultation

Each year the City undertakes a public consultation on the budget. The City of Port Moody invites residents to attend a town hall meeting to provide input as Council considers the 2020-2024 financial plan. The town hall meeting will take place at City Hall (100 Newport Drive) on Tuesday, February 4, 2020.

For reference, view our past 2019 Budget Booklet for a full breakdown of our previous revenue and expense streams. View the results and comments submitted from the 2019 public consultation.

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: