2023 Budget Highlights

Please visit Coquitlam’s Open Book to explore the City’s Financial Plan by going to coquitlam.openbook.questica.com

Total Financial Plan

The first year of the 2023–2027 Financial Plan totals $656 million and is made up of the Operating Plan ($398 million) to fund the daily operations and maintenance of the City, the Capital Plan ($128 million) to fund the rehabilitation and expansion of the City’s infrastructure, and other ($130 million) primarily made up of developer contributed assets and nonCity collections such as Province of BC School Tax

$656 Million

$398M Operating Plan

$319M General Fund

$79M Utilities Fund

$130M Other

$117M Collections on behalf of Other Governments

$13M Other

$128M Capital Plan

$81M Expansion

$47M Rehabilitation and Other

Total Operating Revenues

$398 million

$179M Property Taxation

Operating Revenues

The City receives revenues from a variety of sources

This chart illustrates where the money comes from

Financial Impact of Inflationary Budget Increases

The financial impact of inflationary increases and 2023 service level adjustments is a $179 increase for the average Coquitlam household, including property taxation, water, sewer and drainage and solid waste This chart illustrates how this increase is allocated

The City expenditures are broken down into two different ways to show where the money goes

2023–2027 Capital Plan $631 million

Over the next 5 years, the City plans to invest $631 million in capital infrastructure ($128 million planned in the first year), broken down as follows:

2023 Budget Increases Approved Tax Increases

The 2023 budget incorporate a 5 48% average increase in property taxes The property tax increase is allocated to the budget as follows: