City Budget

Annually the City updates the Five-Year Financial Plan and the 10-Year Project Plan, balancing changing needs and priorities within the community. 

In compliance with the Community Charter, the Financial Plan is developed through public consultation and Council direction. Prior to May 15 each year, Council must adopt both a Five-Year Financial Plan Bylaw and a Property Tax Rates Bylaw.

2027 - 2031 Draft Financial Plan

The 2027 - 2031 Draft Financial Plan will be introduced to Council beginning November 20th at Special Finance and Audit Committee meetings.

The Draft Financial Plan and 2027 Departmental Business Plans will be available in mid-November.

Upcoming Budget Sessions: 

The City's integrated planning framework is comprised of separate but complementary planning processes.  These processes support alignment and integration of resources and activities to achieve the strategic goals and priorities set by Council. 

City Plan

In July 2022, Council adopted City Plan: Nanaimo ReImagined (City Plan).  City Plan adopts the Doughnut Economics model (pictured below) as a framework for achieving its vision and articulates its focus through five goals.  The five goals provide the organizing structure for policies in the City Plan.  How and when the actions and policies described in the City Plan come to fruition is the work of City Council, and will evolve as community priorities shift over time.

2023 – 2026 Strategic Plan

In June 2023 Council endorsed the 2023-2026 Council Strategic Framework. The Framework reflects six key focus areas that will serve to guide Council's decision-making in the years ahead.  The six key focus areas are:

• Implementing City Plan Action Plans and Key Management Plans
• Social, Health and Public Safety Challenges
• Maintaining and Growing Current Services
• Capital Projects
• Communicating with Community
• Governance and Corporate Excellence

20 Year Investment Plan

At the June 14, 2023 Finance and Audit Committee meeting staff presented the 20 Year Investment Plan and Asset Management Plan Update.

The 20 Year Investment Plan and Asset Management Plan Update was led by the City's Asset Management Steering Committee with representation from across the organization including engineering, development, facilities, finance, IT, park operations and public works.

The City's investment in infrastructure supports service delivery of needed and desired services to the community.  The new estimated replacement cost of the City’s infrastructure is $4.8 billion (2021) an increase of $1.8 billion since the last update.

The 20 Year Investment Plan and Asset Management Plan Update, based on 2021 inventory, provides an overview of the City's long term investment plans and funding strategies. The plan includes investment in strategic initiatives, programs and projects, annual investment programs for renewal of existing infrastructure and new/upgraded infrastructure required for growth to maintain current levels of service. The plan will support Council's review and decision making regarding current planning processes, the City's Asset Management System and funding strategies. Projected investment is meant to be attention directing and will change as the timing, scope, and costing of projects, including costing adjustments to reflect current market pricing, is refined in each project planning cycle. 

Projected investment required over the next 20 years is $2.6 billion and current funding strategies may provide $1.6 billion. Strategies have been identified to help address the projected funding shortfall of approximately $1.0 billion including the recommendation to borrow as the funding strategy for the major capital projects under development (project costs, timing and required borrowing will be refined as projects are further developed). The projected shortfall includes $74.9 million in DCC contributions for new/upgraded infrastructure. The City undertook an update to the Development Cost Charge (DCC) Bylaw, which was last revised in 2018.  At the February 23rd, 2026 Council meeting, Council directed staff to proceed with a phased implementation of a new DCC program and the introduction of Amenity Cost Charges (ACCs).  Work is now underway to update the 20-Year Investment Plan and Asset Management Plan with presentation to Council and the public anticipated in 2027.

Read the 20 Year Investment Plan and Asset Management Plan Update.

Get Involved!

Citizens have an opportunity to provide their input and engage in budget discussions once a Draft Financial Plan is presented to Council. Here is how:

• Attend Council and Finance and Audit Committee Meetings on Budget discussions
• Participate in the annual eTown Hall Meeting to discuss the City of Nanaimo's annual budget