Financial Plans and Reports

Metro Vancouver’s Budget and Financial Plans

Metro Vancouver provides services that are key to the prosperity, resilience, equity, and livability of the region 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).

The majority of Metro Vancouver’s operating and capital budgets are financed primarily through utility fees for our core services: drinking water supply, sewerage, and solid waste management.

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.

Metro Vancouver Housing Corporation is a non-profit organization owned by the Metro Vancouver Regional District. Ongoing operations of Metro Vancouver’s housing is financed almost entirely through rents paid by tenants. Investment in new affordable housing over the next 10 years comes from Metro Vancouver in conjunction with various affordable housing funding bodies.

About Our Budgeting Process

 

 

Metro Vancouver Budget ProcessMetro Vancouver Budget Process446969125

  • Spring: Board workshop on the overall strategic plan
  • Spring: Board workshop on the financial plan
  • Spring-Summer: Metro Vancouver reviews long-term plans, including need to upgrade assets or build new infrastructure, and engages with member jurisdictions for alignment on their own capital work
  • Fall: Board workshop with opportunity for public input on budget
  • October: Metro Vancouver Board of Directors considers the next year’s budget and five-year financial plan, and approves as appropriate

2022 Budget and Financial Plan

Metro Vancouver’s 2022–2026 Financial Plan sought to integrate financial sustainability, environmental sustainability, system stewardship, regulatory and legislative requirements, and regional growth. Understanding that households are still recovering as a result of the pandemic and the current economic environment, efforts were made to provide short term relief to households through use of reserves, capital plan deferrals, demand side management, reduction of pay-as-you-go for capital, and continuous improvement efforts.

2022 Budget at-a-glance:
  • Average Household Impact is $595 for all regional services, a $21 increase over the prior year (previously projected to be $612 for 2022)
  • 3.5% Household Impact increase compared to 6.4% previously projected for 2022
  • Total operating budget is $1.017 billion;
Documents and Reports:





Awards


2021 Canadian Award for Financial Reporting from the Government Finance Officers Association of the United States and Canada

Past Financial Plans