2021 Budget

On May 11, 2021, Council approved the 2021 Financial Plan presented by the Financial Services department. The 2021-2025 Financial Plan is a fiscally responsible budget that balances the continuation of 2020 levels of service and addresses the financial realities of the ongoing COVID-19 pandemic. 

Port Moody, like other municipalities, continues to face budget challenges with cost increases for wages and benefits, which make up the single highest cost driver in the budget.  The City realized and included minimal new tax revenue from construction growth, as well as other small increases to fees and fines that offset the revenues needed from the proposed increase to taxation.  New revenues from digital billboards help to significantly reduce the tax increase for 2021.

With the 2020 closure of the Flavelle sawmill (Mill and Timber), the City saw significant changes to assessed values and property classifications to the City’s 2021 tax roll.  This would result in a re-distribution of taxes throughout the City.  To offset the impact of this redistribution, $900,000 was transferred from City reserves to maintain an overall tax increase of approximately 3.55%.

Increased costs as the City continues to respond to the effects of COVID-19 are offset with the Provincial government’s COVID‐19 Safe Restart Grants for Local Governments. 

Review the 2021-2025 Five Year Financial Plan for more detailed information about our budget and financial plans.

Public Budget Consultation

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.

2021-2021 Operating Budget

 Proposed 2021-2025 Capital Budget

 For further details, view the full 2021-2025 Capital Budget

Department 2021 2022 2023 2024 2025
City Administration $125,000 $125,000 $125,000 $125,000 $125,000
Community Development $2,414,200 $350,000 $15,000 $10,000 $10,000
Community Services $2,700,600 $3,165,800 $1,584,900 $1,798,800 $2,310,200
Engineering & Operations $6,846,800  $2,872,200 $3,583,800 $3,852,000 $2,518,900 
Finance & Technology $215,000 $234,000 $70,000 $180,000 $125,000
Library $5,700 $0 $0 $0 $0
People, Communications & Engagement $126,000 $41,000 $36,000 $41,000  $36,000 
Police $202,400 $248,000 $217,600 $527,200 $538,900
Utilities $9,960,800 $3,819,700 $5,837,400 $5,275,100 $4,835,900
Total $22,596,500 $10,855,700 $11,469,700 $11,809,100 $10,499,900
 Timeline

July 2020

Finance Committee

Budget guidelines approved

-

-

-

July 2020

Staff Action

Budget packages distributed to departments 

-

-

-

July - September 2020

Staff Action

Budgets prepared by departments 

-

-

-

September - November 2020

Staff Action

 Staff budget reviews

-

-

-

October 20, 2020

Finance Committee 

Utility Budget and Rates Approved 

Agenda

 -

Video

October 27, 2020 

Regular Council 

Library Board Budget Presentation 

Agenda

 Presentation

Video

November 17 2020

Finance Committee

Introduce Draft 2021-2025 Capital Budget 

Agenda Presentation Video

November 24, 2020 

Regular Council 

Police Board Budget Presentation 

Agenda

Presentation Video
January 5, 2021 Finance Committee Capital Budget Approval Agenda Presentation Video

January 19, 2021 

Finance Committee

Introduce 2021 Operating Budget 

Agenda

Presentation Video

February 2, 2021

Finance Committee

Budget Deliberations

Agenda

Presentation  Video

February 16, 2021

Finance Committee

Budget Deliberations

 Agenda
 Presentation  Video

February 2021

Budget Consultation & Engagement

Engage Port Moody - Learn, Share, Shape your City.

 

   

 March 2, 2021

Finance Committee

Budget Deliberations

Agenda

 Presentation  Video

 March 16, 2021

Finance Committee

Approval of Financial Plan

Agenda

Presentation  Video
April 27, 2021 Regular Council Financial Plan & Tax Rates Bylaws First 3 Readings  Agenda  Presentation  Video

May 11, 2021

Regular Council 

Financial Plan & Tax Rates Bylaws Adoption

 Agenda

 Presentation

 Video

 

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