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City reports progress on financial sustainability and improved service delivery

July 21 2026 –

The City of Vancouver has released the final report of the Mayor’s Budget Task Force Implementation Oversight Committee, outlining results achieved since 2024 to strengthen financial sustainability, modernize City services and deliver better value for residents and businesses. 

The report outlines the City’s response to 17 recommendations from the Mayor’s Budget Task Force and highlights significant results in financial planning, permitting and licensing, capital delivery and non-property-tax revenue. 

“Vancouver residents expect their City to focus on the services that matter most and deliver them efficiently and responsibly,” said Mayor Ken Sim. “From improved permitting services and stronger capital delivery to new revenues that reduce pressure on property taxes, these results show that we are challenging old processes, embracing innovation and delivering better value for Vancouver residents.” 

Key results include: 

  • $40 million more in budgeted revenue from new non-property-tax sources in 2026 compared with 2023. 
  • An increase in the Property Endowment Fund contribution to the operating budget, from $9 million in 2022 to $23 million in 2026. 
  • A $120 million reduction in the 2026 operating budget, helping deliver a zero per cent property tax increase. 
  • Simple home renovation permits processed in under three days, compared with approximately 60 days in 2022. 
  • Average processing times for new business licences reduced from more than 10 days to within one day. 
  • Capital project budget spending increased from 70 per cent in 2022 to 97 per cent in 2025. 

The City has also introduced new digital tools, streamlined regulations and strengthened capital planning and oversight to improve services for residents and businesses. 

The final report of the Mayor’s Budget Task Force Implementation Oversight Committee is available on the City's website (881 KB).