Budgets & Financial Plans
The City updates its five-year financial plan each year to ensure the City’s finances are managed responsibly and reflect the priorities identified by the community.
The financial plan, which includes the current year’s budget and taxes, sets out the planned services and initiatives for the next five years, and how the City will pay for them.
The Finance Department coordinate the financial plan process, analyze department budget information, prepare non-departmental revenue estimates and assemble the budget document, and then provide an overview, financial monitoring, and reporting once the budget is adopted.
The Finance Department assists department heads in identifying budget problems and formulating solutions.
Steps in Developing a Financial Plan:
- The Budget and Infrastructure Committee approves guidelines for the preparation of the financial plan.
- The Finance Department addresses the financial position with the City’s Corporate Management Team.
- The Finance Department coordinates budget submissions from the departments.
- The City’s Corporate Management Team holds a number of meetings to finalize the proposed financial plan for review.
- The proposed financial plan is presented to the Budget and Infrastructure Committee.
- The Budget and Infrastructure Committee and the Corporate Management Team hold a number of meetings to review and finalize the proposed Financial and Business Plans (City Budget). All meetings are open to the public and Port Coquitlam citizens are invited and encouraged to provide their input and be part of the process.
- The Budget and Infrastructure Committee makes a recommendation to draft the Financial Plan Bylaw for Council approval.
- The Financial Plan Bylaw, prepared based on the Budget and Infrastructure Committee decisions, given three readings by Council and adopted
Having a Financial Plan:
- Provides City staff with clear direction and the authority to pay for services for Port Coquitlam citizens.
- Ensures City staff are accountable to the citizens.
- Meets the requirements of the Community Charter.
Location and Mailing Address
City Hall, 1st Floor
2580 Shaughnessy Street
Port Coquitlam BC V3C 2A8
Business Hours: 8:30 am to 4:30 pm, Monday to Friday (excluding statutory holidays)