City Budget
The City strives to maintain quality programs and services for citizens and keep taxes affordable for our businesses and households.
Annually the City updates the 5-year Financial Plan and the 10-year Project Plan, balancing changing needs and priorities within the community.
The Final 2022 – 2026 Financial Plan was adopted by Council on May 9, 2022. The budget reflects decisions made by Council during the budget review process in 2021 and the Spring of 2022.
Budget Highlights
- 15 new RCMP members, three per year over a five-year period, 2020 – 2024.
- 4 new geographically targeted RCMP bike patrol members in 2022.
- Implementation of the Downtown Nanaimo Safety Action Plan including 12 Community Safety Officers, 2 permanent 2 person Community Clean Teams, Downtown Ambassadors program, Parks Ambassador program for summer of 2022, vandalism relief grant program, and additional downtown parkade cleaning.
- Investment in recreation opportunities including Harewood Artificial Turf Fields, Loudon Park Improvements, Marie Davidson Bike
- Enhanced investment in 2022 for pedestrian amenities including; Lenhart Pedestrian Bridge, new sidewalks and multi-use paths, and $1million allocated to additional pedestrian amenities.
- Funding for the new Nanaimo Prosperity Corporation to help advance the City’s economic development priorities.
- Fixed annual contribution the Climate Action Reserve Fund to support energy and emissions management initiatives, plans and projects.
- Continuation of the multi-year project to implement a Corporate Asset Management System to enhance the City’s ability to track and manage assets, and aid future decision-making.
Read the 2022 - 2026 Financial Plan Quick Facts for highlights of the 2022 – 2026 Financial Plan.
Read the 2022 2026 Final Financial Plan for an overview of the plan.
During the Fall of 2021 departments presented to Council their Departmental Business Plans and Business Cases. Financial information contained in these documents is based on the 2022 - 2026 Draft Financial Plan.
Upcoming Budget Sessions:
To be announced in the Fall of 2022 for the 2023- 2027 Financial Plan
Annual Financial Plans
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.
In compliance with the Community Charter, the Financial Plan is developed through public consultation and Council direction. Prior to May 15th each year, Council must adopt both a Five Year Financial Plan bylaw and a Property Tax Rates bylaw.
2019 – 2022 Strategic Plan
In early 2019, Council developed and adopted the 2019 - 2022 Strategic Plan. The Strategic Plan has four strategic themes and ten focus areas, which set out Council priorities and will guide Council decision making and the Financial Plan over the Council term.
The four strategic themes for the plan are:
- Governance Excellence
- Environmental Responsibility
- Economic Health
- Livability
20-Year Investment Plan
On April 5, 2017, staff presented a 20-Year Infrastructure Investment Plan to Council. The plan included projected investment required over the next twenty years for current infrastructure renewal, for new/upgraded infrastructure required due to growth and for specific investment.
Development of the City's first 20 Year Infrastructure Investment Plan was led by the City's Asset Management Steering Committee and included input from the DCC Review Committee. Both committees have representation from across the organization including engineering, development, facilities, IT and finance disciplines.
The 20 Year Infrastructure Investment Plan identified a projected infrastructure investment need of $1.1 billion with current funding strategies providing $794 million. The total potential funding gap is $258 million. The gap is comprised of a funding shortfall of $117 million in development contribution charges for new and upgraded infrastructure required due to growth and $141 million for infrastructure renewal funded from general revenues and reserves. Council approved the following recommendations to close the funding gap:
- Continuation of 1% annual increase to property taxes to 2022 for contributions to the General Asset Management Fund Reserve
- Completion of the DCC Review and adoption of new rates bylaw
- Continued development of the City's asset management capacity
The new DCC rate bylaw was adopted in the Spring of 2018. The City's Asset Management Steering Committee is currently leading several key initiatives.
Read the 20-Year Investment Plan.
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