2021 BUDGET AND FIVE YEAR FINANCIAL PLAN
Through four legal entities - Metro Vancouver Regional District (MVRD), Greater Vancouver Water District (GVWD), Greater Vancouver Sewerage and Drainage District (GVS&DD) and Metro Vancouver Housing Corporation (MVHC) - critical and essential services are provided by Metro Vancouver that are key to the prosperity, resilience and livability of the region.
These services, in partnership with member municipalities, include drinking water supply, sewerage and management of solid waste, which represent the majority of both operating and capital budgets and are financed primarily through utility fees. Property taxes account for a small portion of the Metro Vancouver budget and support the regional parks system, as well as other services including Air Quality Management and Regional Planning activities. MVHC is financed almost entirely through rents paid by tenants.
The 2021 – 2025 Metro Vancouver Financial Plan has been prepared following direction received at the June 5, 2020 Board Budget Workshop. The financial plan is supported by a three-year action plan that maintains the goals and objectives of Metro Vancouver while minimizing impact to the ratepayers managing the effects of the Covid-19 pandemic.
- Average Household Impact is
$577 for all regional services, a $17 increase over the prior year (previously projected to be $602 for 2021)
- 3.2% Household Impact increase is less than half of what was previously projected for 2021
- Total operating budget is
$939.5 million; $28 million less than that proposed in the previous planning cycle.
Below please find the links to the 2021-2025 Financial Plan and the individual budget reports presented to the Board and Standing Committees.