Financial Plan

The City of Coquitlam prepares a Five-Year Financial Plan and Budget each year, as required by the Local Government Act. This plan ensures the City manages money responsibly and in a way that reflects the priorities of the community. It also guides spending for key priorities and provides City staff clear direction and the resources needed to deliver municipal services.

How the City Develops a Financial Plan

Developing the Financial Plan is a complex, months-long process. The work starts with strategic planning and includes:

• public consultation
• extensive background briefings for Council
• in-depth discussions leading to a proposed Five-Year Financial Plan for Council approval. 

City departments and cultural partners also present their needs to Council during Finance Standing Committee meetings. Based on this input, departments create work plans and identify the resources required to meet their goals.

This process, guided by the Strategic Plan (PDF) and Business Plan (PDF), ensures financial planning  accounts for immediate needs while also focusing on long-term priorities.

To learn how your tax dollars support City services and maintain public assets explore the section below entitled ‘Interactive Ways to View City Data’.

Metro Vancouver Budget Impacts

A large portion of the Coquitlam’s utility budgets is paid to Metro Vancouver to fund regional water and sewer systems. This includes the North Shore Wastewater Treatment Plant, a new facility required to comply with mandatory federal regulations and support regional growth. The project’s total cost is now $3.86 billion, which is $2.8 billion more than originally planned. This increase is included in Metro Vancouver's 2025 – 2029 Financial Plan, and impacts the budgets of regional municipalities, including Coquitlam.

The 2025 impact on Coquitlam’s Sewer and Drainage rates is 16%, with 10% directly tied to this project. To reduce the financial burden on Coquitlam ratepayers, the City used its Metro Vancouver Contingency Funding, cutting the potential increase from 20% to 16%.

Learn more: Understanding Metro Vancouver’s Budget (video)  and North Shore Wastewater Treatment Plant Program.

Public Input on the City’s Budget

Community input is a vital part of Coquitlam’s budget planning process. It helps:

• Align the budget with the community’s current needs and priorities.
• Educate residents on how budgets are developed and tax dollars are spent.
• Balance individual needs with those of a growing community, event during economic uncertainty.

From September 1 to 15, Coquitlam residents and businesses contributed to the 2025 budget planning process through an online survey. Thank you to everyone who their feedback. The results are available in the 2025 Budget What We Heard Infographic (PDF). Once approved, the 2025 budget will be posted on this webpage. 

2025 – 2029 Financial Plan

On December 2, 2024 Mayor Richard Stewart provided introductory comments (PDF) and a presentation (PDF) before Council approved the first three readings of the 2025-2029 Five Year Financial Plan Bylaw. Council also approved the 2025 Water, Sewer, Drainage and Solid Waste Rate Amendments (PDF).

For details, see the Information Bulletin: “Coquitlam’s 2025 Budget Balances Growth, Sustainability and Community Needs“, issued December 3, 2024.

The final Annual Tax Rates will be adopted after property value assessments are provided by the BC Assessment Authority in early 2025.

• 2024 - 2028 Financial Plan (PDF) (The 2025-2029 Financial Plan will be published in spring 2025.)
• 2024 - 2028 Financial Plan Highlights (PDF)