Of property tax assessments from all local residents, the City's net income is 22% of taxes charged. Property taxes are the single largest source of revenue for the City of Vancouver and these taxes benefit a variety of local agencies.
Of annual sales tax revenue gathered inside City limits, the City nets roughly 8% of taxes collected, and other agencies also share this revenue source.
The City's two-year budget will be based on living within our means and doing great work with limited resources.
Comprehensively update financial policies to help guide the City to fiscal sustainability.
Prepare a balanced recommended biennial budget for 2013-14 that relies on the new financial policies and reflects Council and community priorities within the context of the City's strategic plan.
Aug. 27 - Financial Policy Workshop with City Council (4:30 pm)
Oct. 1 - Budget workshop with City Council (4 pm)
Oct. 15 - Budget workshop with City Council (4 pm)
Nov. 5 - First reading of budget ordinance (7 pm)
Nov. 19 - Second reading and public hearing of the budget ordinance (7 pm)
If you would like to follow the budget process without leaving home, tune in to Clark-Vancouver Television (CVTV) Channel 23 to watch live meetings. Recorded programs can be found at www.cvtv.org.
The City of Vancouver's budget is produced biennially, every two years, to define and plan the funds needed to maintain the City's infrastructure and urban services. The City government is responsible for building and repairing roads, providing water and sewer service, and ensuring fire and police protection, as well as administering land use policy and participating in Vancouver's commercial and industrial development. This includes, but is not limited to, maintaining parks and green-spaces, and supporting projects to preserve the City's environment, historic legacy and quality of living.
Among its many duties, the City Council adopts the budget. The public is invited to attend all City Council meetings and workshops. Regular meetings include a public comment period.
State law requires the City budget be divided into separate funds with a specific purpose or purposes to promote state accountability but this also makes budgeting complex because it requires so many funds. Understanding the fund structure is the basis for interpreting the City's finances. Fund categories include: the