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Draft 2016 Budget and Five-Year Financial Plan released today

November 26 2015

Granville Bridge

Today we released the proposed 2016 Operating Budget of $1.264 billion and Capital Budget of $325.2 million, which outlines how tax dollars and user fees are invested across City programs and services to support businesses and residents.

Over the next four years, Metro Vancouver is expected to lead the nation in economic growth (Conference Board of Canada). The City of Vancouver is very well positioned with one of the strongest credit ratings, AAA/AA+ for a Canadian City.

Property tax increase second lowest among major Metro Vancouver cities

The 2016 Budget includes a property tax increase of 2.3%, which is aligned with the forecast inflation by the Conference Board of Canada.

In fact, Vancouver’s five-year average property tax increase has been the second lowest among major Metro Vancouver cities.

This has been achieved while sustaining core services and supporting Council priorities such as affordable housing, economic development, and becoming the Greenest City in the world. Metro Vancouver has also been ranked the second-most tax competitive in the World (KPMG, 2014).

Operating budget highlights

Highlights in the 2016 Operating Budget include $11.6 million of investments in new and enhanced services:

  • $2.8 million to enhance public realm cleanliness
  • $2.1 million to reduce permit wait times
  • $1.9 million to enhance public safety (new fire boats, fire trucks and VPD digital evidence software)
  • $1.0 million to enhance Park Board recreation program registration process

Capital budget highlights

Highlights in the 2016 Capital Budget include:

  • $59.1 million for transportation, including:
    • Burrard Bridge upgrades
    • The expansion and improvement of walking and cycling networks such as the South False Creek Seawall
    • Increased street lighting on local roads
  • $39.2 million for parks, open spaces and recreation, including:
    • The redevelopment of the North Plaza of the Vancouver Art Gallery
    • The start of construction of the Killarney Seniors’ Centre in Southeast Vancouver
    • Neighbourhood park renewals at Hillcrest and Riley parks
    • Stakeholder consultation and preliminary design for Phase 1 Britannia Community Centre redevelopment 
    • Preliminary planning and public consultation for the Marpole-Oakridge Community Centre renewal
  • $29.5 million in affordable housing, including:
    • Social housing in Southeast False Creek and the River District
    • Planning for Roddan Lodge renewal
    • Capital grants for non-City owned social housing and Single Room Occupancy units
  • $24 million for community facilities, including the:
    • New Strathcona Branch Library
    • Renewal of the Evelyne Saller Centre
  • $6.5 million for childcare, including:
    • Start of construction of the Lord Nelson Elementary School childcare facility 
    • A new multi-purpose room for 30 childcare spaces at the International Village School site

Council and community priorities

The 2016 Budget and Five-Year Financial Plan will enable us to continue to make significant progress in advancing City Council and community priorities, including:

  • 2012-2021 Housing and Homelessness Strategy
  • Greenest City 2020 Action Plan
  • Digital Strategy
  • Transportation 2040 Plan
  • Healthy City Strategy
  • Vancouver Economic Action Strategy  

Budget dialogue session: November 30

You are invited to a budget dialogue session taking place on November 30 at the Vancouver Public Library, Central Branch.

Learn more about what’s being proposed to align spending with Council and community priorities, to provide valued services, and deliver them efficiently.

This is also a chance to discuss the budget with City staff and Councillor Geoff Meggs, Chair of the Finance and Services Committee, as well as ask questions before it goes to City Council for consideration on December 9.

Other ways to send questions or comments

You can also send in questions or comments to staff or Council by calling 3-1-1 or emailing:

Register to speak at the special council meeting on December 9

Email your request to City Clerks or call 3-1-1.

Council will then vote on the 2016 Budget on December 15, 2015 at the regular Council meeting.

Budget changes in 2016

Two of the most significant improvements made to the 2016 Budget are:

  • The creation of a five-year financial plan that will enable strategic planning and decisions around investments, other revenue sources, and business transformation opportunities, which also aligns with the financial plan periods used by other municipalities
  • The consolidated budget is now reported in financial statement format, for comparability to the City’s financial statements  

The 2016 Budget also continues to integrate the best practice items recommended by PricewaterhouseCoopers when it was engaged in 2012 to identify leading practices in public sector budgeting to assist the City in providing comprehensive and understandable budget information.

Learn more about the 2016 Budget

Read the 2017 Budget

Read the 2016 Budget

2017 Budget  (7.9 MB)

Budget highlights
 (240 KB)