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Budgets and Financial Plans

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​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 the budget process​​

 

 

Metro Vancouver Budget ProcessMetro Vancouver Budget Process446969125

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​​​Budgeting​​ schedule​​

  • ​​​​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

2023 budget and five year financial plan

The 2023 - 2027 Metro Vancouver Financial Plan maintains the goals and objectives of Metro Vancouver while removing the use of financial levers that were put in place during the COVID-19 pandemic. Further, this budget represents a pause to assess the implications of the rapidly evolving macro-economic environment and to undertake strategic planning with the incoming Board of Directors.

​2023 budget at-a-glance

  • Average household impact is $620 for all regional services, a $26 increase over the prior year (previously projected to be $653 for 2023)
  • 4.5% household impact increase compared to 10.1% previously projected for 2023 
  • Total operating budget is $1.082 billion

Documents and reports​

 

 

Overview of 2023 Metro Vancouver Budgethttps://metrovancouver.org/about-us/Documents/overview-metro-vancouver-budget-2023.pdf, Overview of 2023 Metro Vancouver BudgetOverview of 2023 Metro Vancouver Budget
2023 - 2027 Financial Planhttps://metrovancouver.org/about-us/Documents/financial-plan-committee-review-2023-2027.pdf, 2023 - 2027 Financial Plan2023 - 2027 Financial Plan
2023 - 2027 Financial Plan Standing Committee Reportshttps://metrovancouver.org/about-us/Documents/financial-plan-standing-committee-reports-2027.pdf, 2023 - 2027 Financial Plan Standing Committee Reports2023 - 2027 Financial Plan Standing Committee Reports

Past finan​cial plans

 

 

2022 Statement of Financial Information (Public List) https://metrovancouver.org/about-us/Documents/statement-financial-information-2022.pdf, 2022 Statement of Financial Information (Public List) 2022 Statement of Financial Information (Public List) 2022
Overview of 2021 Metro Vancouver Budgethttps://metrovancouver.org/about-us/Documents/overview-metro-vancouver-budget-2021.pdf, Overview of 2021 Metro Vancouver BudgetOverview of 2021 Metro Vancouver Budget2021
2020-2024 Financial Plan Report to Metro Vancouver Boardshttps://metrovancouver.org/about-us/Documents/financial-plan-report-2020.pdf, 2020-2024 Financial Plan Report to Metro Vancouver Boards2020-2024 Financial Plan Report to Metro Vancouver Boards2020
Overview of 2022 Metro Vancouver Budgethttps://metrovancouver.org/about-us/Documents/overview-metro-vancouver-budget-2022.pdf, Overview of 2022 Metro Vancouver BudgetOverview of 2022 Metro Vancouver Budget2022
2021 Audited Financial Statementshttps://metrovancouver.org/about-us/Documents/audited-financial-statements-2021.pdf, 2021 Audited Financial Statements2021 Audited Financial Statements2021
2020 Audited Financial Statementshttps://metrovancouver.org/about-us/Documents/audited-financial-statements-2020.pdf, 2020 Audited Financial Statements2020 Audited Financial Statements2020
2022 Audited Financial Statementshttps://metrovancouver.org/about-us/Documents/audited-financial-statements-2022.pdf, 2022 Audited Financial Statements2022 Audited Financial Statements2022
2021-2025 Financial Planhttps://metrovancouver.org/about-us/Documents/financial-plan-2021-2025.pdf, 2021-2025 Financial Plan2021-2025 Financial Plan2021
2020-2024 Financial Planhttps://metrovancouver.org/about-us/Documents/financial-plan-2020-2024.pdf, 2020-2024 Financial Plan2020-2024 Financial Plan2020
2022-2026 Financial Planhttps://metrovancouver.org/about-us/Documents/financial-plan-2022-2026.pdf, 2022-2026 Financial Plan2022-2026 Financial Plan2022
2021 Statement of Financial Informationhttps://metrovancouver.org/about-us/Documents/statement-of-financial-information-2021.pdf, 2021 Statement of Financial Information2021 Statement of Financial Information2021
2022-2026 Financial Plan Standing Committee Reportshttps://metrovancouver.org/about-us/Documents/financial-plan-standing-committee-reports-2022-2026.pdf, 2022-2026 Financial Plan Standing Committee Reports2022-2026 Financial Plan Standing Committee Reports2022
2021-2025 Financial Plan Standing Committee Reportshttps://metrovancouver.org/about-us/Documents/financial-plan-standing-committee-reports-2021-2025.pdf, 2021-2025 Financial Plan Standing Committee Reports2021-2025 Financial Plan Standing Committee Reports2021
2020-2024 Financial Plan Standing Committee Reportshttps://metrovancouver.org/about-us/Documents/financial-plan-standing-committee-reports-2020-2024.pdf, 2020-2024 Financial Plan Standing Committee Reports2020-2024 Financial Plan Standing Committee Reports2020
2022 Annual Financial Reporthttps://metrovancouver.org/about-us/Documents/gfoa-finance-annual-report-2022.pdf, 2022 Annual Financial Report2022 Annual Financial Report2022
2021 Annual Financial Reporthttps://metrovancouver.org/about-us/Documents/annual-financial-report-2021.pdf, 2021 Annual Financial Report2021 Annual Financial Report2021
2020 Annual Financial Reporthttps://metrovancouver.org/about-us/Documents/annual-financial-report-2020.pdf, 2020 Annual Financial Report2020 Annual Financial Report2020

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Awards

The​ Canadian Award for Financial Reporting from the Government Finance Officers Association of the United States and Canada recognizes Canadian local governments that go beyond the minimum requirements of generally accepted accounti​ng principles to prepare annual financial reports in the spirit of transparency and full disclosure.

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