General Fund Revenues $84,870,998 Expenditures Divisional 69,635,424 Non-Divisional 5,695,509 Transfers 9,540,065 84,870,998 $ Nil * Capital $14,788,522 *Per the Community Charter, a Municipality cannot budget for a deficit. 2013 BUDGET.
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$ Nil *
*Per the Community Charter, a Municipality cannot budget for a deficit
General $ 99,659,520
Solid Waste 4,194,300
Lands Stewardship 3,345,000
West Vancouver’s financial framework is organized around several high-level functional units, called Funds. Each Fund is a stand-alone business entity that engages in specific service activities, and has its own particular revenues, expenditures, reserves and capital program. Each Fund also has its own particular approach to budgeting and rate setting.
Average Assessed Home Value $2,144,137
Municipal Taxes $3,620
Solid Waste 275
Maple Ridge $459,075
New Westminster $695,743
North Vancouver City $891,975
North Vancouver District $1,016,520
Pitt Meadows $450,410
Port Moody $760,622
West Vancouver $2,144,377
Maple Ridge 4.283%
New Westminster 3.548%
North Vancouver City 2.449%
North Vancouver District 2.369%
Pitt Meadows 3.906%
Port Moody 3.401%
West Vancouver 1.688%
Maple Ridge $5120
New Westminster $4,693
North Vancouver City $3,472
North Vancouver District $3,782
Pitt Meadows $4,937
Port Moody $4,414
West Vancouver $3,022
*Based on a $1,000,000 Assessed Value
of Total Property Tax Revenue
Maple Ridge 78%
New Westminster 60%
North Vancouver City 55%
North Vancouver District 72%
Port Moody 68%
West Vancouver 93%
Changes to the effective tax rate?
What is the Mill Rate?
BC Assessment Authority
Impact of other taxing authorities
Conduct property assessments on an annual basis for all property owners in the province.
BC Assessment operates as an independent, provincial Crown corporation, governed by a Board of Directors and is accountable to the Government of BC.
The President and CEO of BC Assessment is supported by an Executive Committee. The Board is appointed by the Lieutenant-Governor in Council.
BC Assessment's head office is located in Victoria. 15 area offices are situated in 10 regions in various geographic locations throughout British Columbia.
The Mill Rate is adjusted annually to eliminate the effect of changes to the average assessed value.
The only circumstance whereby a residents change to property taxes, year over year, equals the change approved by Council is where the residents change in assessed value equals the average change in assessed values for the District.
District collects on behalf of other taxing authorities but retains none of this revenue.
$29.58 for the average household
September 2013 • Requests for FTE’s
October 2013 • Divisional WorkPlans
• Facilities Systems Renewal
• Divisional Operating Budgets
• Divisional Capital Budgets
November 2013• Public Consultation
• Review by Council
December 2013 • Adoption of Bylaw
2014 - 2018 Five Year Financial Plan Bylaw
The budget schedule will allow for the adoption of the 2014 to 2018 Five Year Financial Plan in December 2013. While staff do believe this is the best course of action, the proposed schedule does provide some challenges. Most notably, BC Assessment Authority does not provide the “final roll” (i.e. the final list of assessed property values used to calculate property tax revenue) until sometime in January 2014.
As in 2013, the Community Strategic Plan and Council Priorities will once again drive the budget process.
In addition to providing highly-valued programs and services in a fiscally sustainable manner, Mayor and Council determined five significant priorities for the District to focus on through 2014.These priorities include:
• The Public Safety Building
• Ambleside and Waterfront Development
• Housing and Neighbourhood Character
• Municipal Services and Finances
• Environment, Parks and Upper Lands
These five priorities are in complete alignment with the Community Strategic Plan which was developed by the District in collaboration with residents. It provides the framework that drives the District’s operations, strategic initiatives and provides the context for financial planning and budgets.
Financially strong community;
Sustainable community; and
Continuing commitment to deliver exceptional services.
As in prior years, the District will engage in a priority based budget process. This process will involve: the identification of resources and priorities in terms of high value results to the community; the precise definition of priorities; an evaluation of services, function and programs against priorities; and the allocation of resources based on this evaluation.
In late 2012, a facilities inventory and assessment was completed on 48 District owned facilities.
For 2014, staff will be recommending a long-term funding strategy. This funding strategy may be one of the following: a single parcel tax levy, an effective property tax rate increase, the Endowment Fund, or some other method determined by public consultation.
These funds will be used solely for the purpose of funding facilities systems and maintenance renewal.
For 2014, utility rates will once again be presented in conjunction with the budget submission. Within the Water and Sewer Utilities, projected timing and costs of future infrastructure replacements have been integrated into long term operating and funding models. The proposed rate increases for Water and Sewer are expected to be in keeping with previously projected funding models.
Multi Material BC
Online Public Consultation
Review by Council
Adoption of Bylaw