2015-2019 Financial Plan
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. Read more about the budget development process.
2015 Budget Details
Impact on taxpayers
Council approved a 2015 budget on April 13 that leverages cost-saving initiatives and surplus and reserve funds to deliver more than $3.5 million in enhancements with minimal impact on taxpayers.
Municipal property taxes for Port Coquitlam business and residential properties will rise by 1.46% in 2015, the lowest increase in the Tri-Cities and one of the lowest in Metro Vancouver.
For residential properties, the increase equates to $29.02 for the average single-family home, $22.85 for the average townhouse and $13.41 for the average apartment.
However, the actual amount of increase will depend on whether the property’s assessed value increased more or less than other properties (in 2015 assessed values for residential properties went up an average of 3.8%).
There is no increase for the water or sewer levies, and a 3.18% increase for the solid waste levy due to increased service delivery costs and disposal fees.
The budget includes $762,900 in planned expenditures, that include financing for a new Community Recreation Complex in the downtown, budget public consultation costs, some transportation and public works community initiatives, and the return of the annual Christmas light display to the north-side commercial area.
Another $2.76 million in one-time enhancements will be funded by surplus and reserve accounts so don’t affect property taxes.
List of Enhancements
- Planning, design and public consultation for the Community Recreation Complex.
- Roll-out costs for the new wildlife-resistant waste cart locks.
- Chafer Beetle control on city lands, including the cemetery.
- Purchase of a city-owned May Day float, rather than renting the float.
- Start-up costs for a Biz Directory, a searchable listing of licenced businesses.
- Development of a mobile app enabling residents to access a range of city services.
- Decorative lighting for the City Hall exterior, both year-round and for special events.
- Personnel to pursue revenue-generation projects.
- Start-up costs for the north-side Christmas light display.
- Costs associated with demolition and cleanup at the public health building site.
- Purchase of additional waste carts and kitchen pails.
- Renovations at Fire Hall 2.
- Power systems upgrade at the RCMP Public Safety Building.
Spending on capital projects this year is focused primarily on essential maintenance, committed projects and multi-year initiatives, as the city’s Budget & Infrastructure advisory committee develops a new way to plan for and fund infrastructure such as roads and buildings.
Planned capital expenditures include:
- new wildlife-resistant waste cart locks,
- a new street sweeper,
- playground spray features and other work at Lions Park, development of the municipal cemetery, and
- repaving and watermain upgrade on Burns Road.
The capital budget once again sets aside the equivalent of one per cent in taxes for the future replacement of infrastructure such as sewer and water systems, roads and buildings.
Public consultation is a critical part of each year’s budget development. Port Coquitlam citizens were encouraged to provide feedback on the proposed 2015 budget from February 2 to 23.
The city once again mailed out a budget overview to all households, provided detailed budget information in print and online, and solicited feedback through an online survey. (See below for some of the materials that were distributed.)
For the second year, the approach stimulated a high level of public participation. Close to 870 people provided their feedback, with strong support expressed for the development of a new Community Recreation Complex in the downtown and for the budget information provided by the city this year.
Feedback on planned cost-saving measures led to a reversal of plans to reduce grass cutting at Citadel, Robert Hope and Castle Parks.
Department 2015 Business Plans
The annual business plan presentations are one of the first steps in developing the five-year financial plan. Each department’s business plan outlines their proposed services and projects to be included in the 2015 budget.
Please click the links to view a PDF of the business plan.
- Office of the CAO
- Corporate Support
- Development Services
- Fire & Emergency Services
- Human Resources
- Policing Services
- Engineering & Operations
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)