The City is seeking public input on its 2023 draft budget.
Each year, the City creates a budget that determines how much revenue it will bring in and how much it will spend within that year. The budget considers external economic pressures and the long-term vision for the City, balanced with the need to provide the essential City services that residents rely on every day.
About the 2023 Draft Budget
These are extraordinary times for everyone, including local government. Ongoing impacts from the global pandemic and other economic realities like inflation make it especially challenging to develop a Financial Plan that balances both fiscal prudence and the need to maintain City service levels while continuing to invest in community infrastructure.
The 2023 Draft Financial Plan proposes a base budget of $303.8 million. The three main categories of this budget are:
- Operating budget of $94.8 million
- Capital budget of $76.7 million
- Utilities budget of $38.5 million
The main source of revenue for the annual budget comes from property taxes and utility fees collected from homeowners and businesses. The amount of municipal tax a property owner pays is dependent on the property type and the property’s assessed value.
The City’s 2023 draft budget projects a 5.24% increase in taxes on the average home in the City.
Ways For the Public to Get Involved
- Share feedback through the online comment form at letstalk.cnv.org/budget2023, available until February 9 at noon.
- Mail or deliver written feedback to City Hall by February 9 at noon.
- Speak at the City Council meeting on Monday, February 13. To register, visit cnv.org/PublicMeetings or call 604-990-4230.
Public feedback will be shared with Council to help inform the 2023-2027 Financial Plan.
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