Metro Vancouver's Board of Directors today approved the 2022 annual budget, which provides the funding necessary to build, maintain and upgrade critical infrastructure that is a strong foundation for the region.The Board also endorsed the 2022-2026 Financial Plan, which provides insight into the regional district's future annual budgets and long-term financial plans involving anticipated capital projects, expenditures and funding projections."The careful planning and decision making of the region's past and current leaders have put us in a sound financial position that allows us to continue providing the vital services that residents and businesses rely upon," said Sav Dhaliwal, Chair of Metro Vancouver's Board of Directors. "The region's residents receive tremendous value for what breaks down to an average of $1.63 a day in 2022 for all of Metro Vancouver's services, from liquid and solid waste management to some of the world's best drinking water."The operating budget of $1.017 billion and $1.38 billion in capital expenditures for 2022 will address key Board priorities, including: implementing the Clean Air Plan; integrating land use and transportation planning; enhancing investment in affordable housing; accelerating action on regional economic prosperity; advancing long-term water source supply capacity while improving seismic resiliency of the water system; upgrading wastewater treatment plants to better protect people and the environment; and more. In 2022, residents will contribute an annual average of $595 per household for all regional services — a $21 increase over the prior year, but $17 less than what was previously projected. The increase is 3.5 per cent, compared to 6.4 per cent previously anticipated for 2022.The budget and five-year plan were prepared following Board directions committed to minimizing impacts to ratepayers in the short term while recovering from the impacts of Covid-19 while maintaining current goals and objectives and realizing new opportunities. "In the coming years, Metro Vancouver will make crucial investments across the region to ensure our infrastructure has the capacity to meet the needs of the growing population, while being more resilient to climate change, and meeting federal and provincial regulations for environmental protection," said Metro Vancouver Commissioner Jerry Dobrovolny. "Delivering our services while remaining affordable is a priority for us. This year, we were able to make significant budget reductions and keep the 2022 increase below the rate of inflation by deferring discretionary capital investment and using a variety of financial tools."Metro Vancouver's services are financed primarily through utility fees. Property taxes account for a small portion of the regional district budget and support the regional parks system as well as other services including air quality management and regional planning. Metro Vancouver Housing Corporation is financed almost entirely through tenant rents.The 2022 Budget and 2022-2026 Financial Plan are available on Metro Vancouver's website.