Financial Plan
Each year, the City of Coquitlam prepares a Five-Year Financial Plan and Budget, as required by the Local Government Act. This plan helps manage the City's finances in a responsible way, ensuring we align with the community's needs. It also outlines how money will be spent on key priorities and provides clear direction for City staff to deliver municipal services to residents.
2025 – 2029 Financial Plan | Planning for a Stable Tomorrow
On December 2, 2024, Council approved the 2025 - 2029 Five Year Financial Plan Bylaw (PDF) and the 2025 rates for utilities (water, sewer, drainage and solid waste)(PDF). The City's annual tax rates are set after property assessments from BC Assessment are available early in the year. The detailed Financial Plan and Highlights documents are then developed.
- 2025 – 2029 Financial Plan | Planning for a Stable Tomorrow (PDF)
- 2025 – 2029 Budget Highlights (PDF)
Learn more: Coquitlam's 2025 Budget Balances Growth, Sustainability and Community Needs
Metro Vancouver Budget Impacts
Coquitlam pays a significant portion of the utility budget to Metro Vancouver for regional services, including water and sewer systems. One major project, the North Shore Wastewater Treatment Plant, is required to meet mandatory federal regulations and support regional growth. The cost of the project has increased by $2.8 billion, for a total project cost of $3.86 billion, significantly impacting the budgets of regional municipalities, including Coquitlam.
To reduce costs for residents, the City used contingency funding to lower a potential 20% sewer rate increase to 16%.
Learn more: Understanding Metro Vancouver’s Budget (video) and North Shore Wastewater Treatment Plant Program.
How the City Develops a Financial Plan
Creating a Financial Plan is a long and complex process that starts months before the budget is approved. Here's how it's done:
- Strategic and Business Planning — Guided by the City's Strategic Plan and Business Plan, the process ensures that both immediate needs and long-term goals are balanced.
- Public Consultation — Residents provide feedback through surveys and meetings.
- Council Briefings — City leaders receive detailed reports to help inform their decisions.
- Department Input — City departments and cultural partners present to Council current services and service levels, and what's needed to maintain those services.
This thorough process makes sure the City's financial plan and budget supports both current needs and future priorities.
Interactive Ways to View City Data
Want to see where your tax dollars go? Use the Coquitlam OpenBook data visualization tool to explore the City's budgets and spending. You can:
- View the annual expenses using the latest financial statement data.
- See the 5-year Capital Budget with detailed project information.
- Explore the Operating Budget with a breakdown by department.
- Learn about new and ongoing projects through clickable maps, charts and graphs.
- Search and filter topics to find detailed information that matters to you.
- Share your feedback with us.
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, even during economic uncertainty.
In September 2024, Coquitlam residents and businesses shared their thoughts on the 2025 budget. You can see the results in the 2025 Budget What We Heard Infographic (PDF).
You'll have the chance to provide input on Coquitlam's budget again this fall. Updates will be posted to this page and at LetsTalkCoquitlam.ca.