Metro Vancouver’s annual budgets are driven primarily by the costs of delivering fundamentally important utility services, in partnership with member municipalities, to the region’s citizens and businesses.
Drinking water supply, sewerage and management of solid waste represent the majority of both operating and capital budgets, and are financed through utility fees. Property taxes account for a small portion of the regional budget, and support the Regional Parks system, as well as other services including Air Quality Management and Regional Planning activities.
Metro Vancouver Housing Corporation is financed almost entirely through rents paid by tenants.
Mindful of both global and local economic challenges, and true to the region's focus on debt avoidance, the board established a financial target increase of 2.5 percent for 2013 in order to meet program priorities, and to accommodate inflation and the increase in service demand arising from growth.