The Local Government Act requires the City of Coquitlam to complete a Five-Year Financial Plan and Budget each year. The Financial Plan ensures responsible money management and relates directly to the priorities identified by the community.
Public Input on the City’s 2023 Budget
Thank you to everyone who provided their feedback on whether Coquitlam is spending the right amount on the right services through our online survey. Read about the feedback in this What We Heard infographic (PDF).
Public participation in the annual budget planning process helps to ensure the City’s budget reflects the community’s current wants and needs. It also helps inform the community on how city budgets are created, in addition to how your property tax dollars are spent. Public feedback helps the City balance individual needs, along side the needs of a growing community while delivering on key priorities and projects in a measured way, especially during times of economic uncertainty. Visit the public engagement project page at letstalkcoquitlam.ca/budget.
Every year City departments and cultural partners present their budget requests to Council at a Finance Standing Committee Meeting. You can watch that meeting live on Jan. 24 and 25 at coquitlam.ca/webcasts, or review the highlight documents below.
Any questions or comments on these documents can be submitted to the Finance team via email.
Purpose of the Financial Plan
The Financial Plan provides City staff with clear direction on spending levels for each defined priority and the authority to pay for services for Coquitlam residents.
The Financial Plan ensures that City staff are accountable to the residents.
How the City Develops a Financial Plan
The Financial Plan development process is a complex, months-long process. It begins with strategic planning and includes public consultation, extensive background briefings for Council and comprehensive discussion sessions that culminate in a proposed Five-Year Financial Plan for Council approval. It also includes a number of key budget assumptions. Using this as a basis, work plans are developed for each department, with resource needs identified. Together with the Strategic Plan and Business Plan, this approach to financial planning provides for a thorough, strategic focus in the budget deliberations.
2022-2026 Financial Plan | Foundations for the Future
Want to learn more about where your tax dollars go? The City of Coquitlam has made available a data visualization tool called Coquitlam OpenBook for the public to easily view information about City budgets and spending. Check the tool to view: