Budgets and Financial Plans

​Metro Vancouver’s budgets 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 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 budgeting process​​

Our budgeting process begins each year with a review of the capital plan and program. Then, the budget is developed to respond to risks and strategic directions from the Board.

​​​Budgeting​​ schedule​​

• Spring - Board Budget Workshop on the financial plan
• ​​​​Spring-Summer - Review long-term plans, including what assets or infrastructure need upgrades or what needs to be built. Engagement with member jurisdictions for alignment on their own capital work.
• Fall - Board Budget 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

2024 Budget and 2024-2028 Financial Plan

The 2024 - 2028 Metro Vancouver Financial Plan was prepared following direction received at the April 19, 2023 Metro Vancouver Board Budget Workshop.

• Reprioritization of projects and programs, resulting in approximately $650 million deferred costs and savings for the region
• Household impact targets of 12.0% for 2024, 11.0% for 2025, 5.0% for 2026 and 5.0% for 2027
• Implementation of Liquid Waste Development Cost Charges (DCCs) and Water DCCs to a 1% assist factor
• Implementation of a new Regional Parks DCC and move it to a 1% assist factor over the financial plan

​2024 budget at-a-glance

In 2024, the average household impact is $698 for all regional services, a $75 increase over the prior year (This is down from what was previously projected in the 5-Year Financial Plan, where we projected that the household impact would be $711 for 2024).​​​

Estimated average cost per household​

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Where the money comes from

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Where the money goes

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2024 budget documents and reports ​