City Budget 2024

Project Update, March 2024: The 2024-2028 Five-Year Financial Plan Bylaw was adopted by New Westminster City Council on March 11, 2024.

At its regular meeting on February 26, 2024, City Council gave three readings of the 2024-2028 Five-Year Financial Plan Bylaw. Click here to access the Council report and recording of the meeting.

Project Update, February 6, 2024: The Draft 2024-2028 Five-Year Financial Plan has been prepared, and members of the public are invited to provide comments before the Bylaw comes forward to Council for decision-making. Scroll down or click here to provide your comments through this page. You can also submit written comments by email to nwfinance@newwestcity.ca or by regular mail.

The deadline for comments is 6:00 pm on February 16. All written feedback will be presented to Council and published. Click here to review the Draft 2024-2028 Five-Year Financial Plan, and click here to watch the most recent presentation to Council (January 22, 2024) about the 2024 Budget development process.

Project Update, January 25, 2024: Following a series of six budget workshops, Council has directed City staff to prepare the 2024-2028 Five-Year Financial Plan and Bylaw based on a 2024 Capital Budget of $151.9 million and a 2024 Operating Budget of $272.8 million. Included in the total Operating Budget, Council has endorsed $23.7 million in service enhancements in 2024.

The 2024 Budget plans will result in an estimated property tax increase of 7.7%. As well, utility rates are expected to rise by 6.0% overall, consisting of the following utility-specific increases:

• Electric rate increase of 3.3%
• Water rate increase of 6.0%
• Sewer rate increase of 8.0%
• Solid waste increase of 12.0%

The proposed 2024 Budget and Five-Year Financial Plan will be presented to City Council on February 5, 2024. A public comment period will follow from February 6-16, 2024. Check back on this page starting February 6 to provide your comments for Council.

The 2024-2028 Five-Year Financial Plan and Bylaw will come to Council for three readings on February 26, 2024, followed by adoption of the budget at the March 11 Council meeting.

Project Update, November 2023: A series of budget workshops with City Council is underway, and members of the community are invited to attend and/or watch the recordings of these meetings. The schedule and topics of each workshop are listed below, and links to the meeting recordings will be added here following each session.

1. October 16: Capital Budget
2. November 20: Council Strategic Priorities Implementation and Revenue Projections
3. November 27: Utility Rate Projections for 2024 (Electrical, Water, Sewer, Solid Waste)
4. December 11: Operating Budget, with options and proposed tax rates
5. January 8, 2024: Capital Budget refinements
6. January 22: Operating Budget refinements

There will be an opportunity for public comments on the draft 2024 City Budget before Council's final decision-making process. More info to come.

Project Update - August 31, 2023: The What We Heard Engagement Summary Report is now available! Click here to read the full report about the engagement process and a summary of the input received through targeted workshops with under-represented groups, as well as the community-wide survey.

Staff presented highlights from the results to City Council at its August 28 meeting. Click here to review the presentation slides, and here to access the Council report and recording from the meeting.

In addition to the What We Heard Engagement Summary Report, you can review the detailed workshop notes here and the verbatim written comments from the survey here.

Project Update - July 11, 2023: A big thank you to everyone who took the time to share feedback on the 2024 City Budget! We heard from 470 community members on their priorities for how the City should spend its money. Online public engagement has now concluded. Over the next few weeks, staff are continuing with targeted outreach to specific groups in New West, like renters and newcomers. Results from all these engagement activities will be shared back here later this summer. In the meantime, check out a few highlights of the survey results below.

Also, remember to keep an eye on your email as we contact the three winners of the prize draw!

City budgets are an important part of serving a diverse community, providing critical infrastructure like drinking water, sewers, and sidewalks, and delivering a wide range of public services such as public safety, libraries, parks, waste collection, and many more. The City of New Westminster is starting the process to develop its financial plan for 2024 to 2028, which includes the capital and operating budgets for 2024.

As we started the annual budget cycle, we asked for the community’s input on some key questions from City Council and staff. We wanted to know about your priorities for future capital spending, your level of support for Council's new strategic priorities and the City's financial sustainability principles, and your preferences for property tax rates as they relate to service levels.

Community input is one of several factors that inform the development of the City's annual budget. Engagement has now concluded. A survey and discussion forum were open June 2 through July 10, 2023.

Is budget engagement just for property owners?

No! How money is allocated impacts City service levels, what infrastructure projects move forward, and other decisions that can impact all New West residents. Are you a renter? This still applies to you! The rent you pay contributes to the property taxes for your residence.

What's the City's financial outlook for 2024?

Key factors for the 2024 City Budget in particular include aligning the City’s work plans with Council’s new strategic priorities, the ongoing rise in inflation, increased population, and new staff and other resources that will be needed to operate the new təməsew̓txʷ Aquatic and Community Centre (which is set to open in 2024). Another key budget driver includes third-party funding like the Provincial support from the Growing Communities Fund and opportunities for other grants.

How can I learn more about the City budget process and how it impacts me?

Click here to explore some FAQs, and check out our new budget infographic here. It includes key information about the City's current budget, and what your tax dollars pay for.

Find more detailed financial information in the City's 2023-2027 Financial Plan, and click here for a summary presentation.

Learn more about how the City's finances work, the differences between operating and capital budgets, property taxes, etc. Check out our Budget 101 webinar from 2021!