Money Talks - 2013

This consultation has concluded.

What is a 5 Year Financial Plan
The Community Charter requires that Council adopt a 5 Year Financial Plan each year prior to the adoption of the annual Property Tax Bylaw. The purpose of the 5 Year Financial Plan is to provide a budgetary framework for the City to plan the management of its resources, revenues and expenditures in order to best serve the community.

The 5 Year Financial Plan combines the 2013 Operating Budget, the 2013 Capital Budget and the 2013 Utilities Budget. The next four years of the 5 Year Financial Plan are estimates based on the economic forecasts for BC and internal plans. Each year, this rolling plan is reviewed and updated.

What is a 5 Year Financial Plan
The Community Charter requires that Council adopt a 5 Year Financial Plan each year prior to the adoption of the annual Property Tax Bylaw. The purpose of the 5 Year Financial Plan is to provide a budgetary framework for the City to plan the management of its resources, revenues and expenditures in order to best serve the community.

The 5 Year Financial Plan combines the 2013 Operating Budget, the 2013 Capital Budget and the 2013 Utilities Budget. The next four years of the 5 Year Financial Plan are estimates based on the economic forecasts for BC and internal plans. Each year, this rolling plan is reviewed and updated.

This consultation has concluded.
  • 2013 Capital Highlights

    almost 7 years ago
    1469

    The following is an overview of the major program areas funded through the capital budget with selected highlights of proposed 2013 initiatives being recommended to Council.

    Infrastructure – $39.0:

     

     

     

     

    The City’s Infrastructure Program funds assets that include: road, drainage and sanitary pump stations, drainage, water, and sanitary mains.  For 2013 it encompasses investing $39 million on improving the City’s civic infrastructure.

    The 2013 program includes interim Landsdowne Road extension, Nelson Road widening, Bath Slough Pump Station, Bennett West Pump Station, Ainsworth and Aintree Laneway drainage and pavement upgrade.

    Equipment – $10.8M:  

      

     

    The 2013 equipment program funds machinery and vehicles for Public Works and Fire Rescue Services, computer hardware, software, library collections, and food scraps/organics recycling program expansion.
    Land – $5.0M:  

     

     

    The 2013 land acquisition program relates to the acquisition of real property for the City, as approved by Council.
    Parks – $5.2M:  

     

     

     

    Richmond is renowned for its high quality parks and recreation facilities, with over 90 parks totaling approximately 1,400 acres. In addition to the City’s parks, Richmond also has a 200-acre recreational trail system.

    The 2013 program includes work on Britannia Heritage Shipyard, Railway Avenue Greenway, Terra Nova Park, and Thompson Youth Park.

    Buildings* – $4.6M

     

     

     *Does not include major facilities which will be the subject of another report

     

    The building program funds major building construction and renovation projects as well as minor facility upgrades and repairs.

    For 2013 the building program includes extensive upgrades to the West Richmond Community Centre, rehabilitation work to the Japanese Building at 3811 Moncton Street, and project design engineering and architecture work for a variety of proposed facility projects.

     Affordable Housing – $0.7M:  

     

     

    Affordable Housing is responsible for coordinating the implementation of the Richmond Affordable Housing Strategy adopted in 2007.

    The 2013 program entails a City-owned site designated for affordable housing to support the development of affordable housing.

     Child Care – $0.1M: 

     
      To address child care needs, the City’s 2013 Child Care program will provide ongoing capital maintenance costs for facilities such as the Hamilton Child Care facility and West Cambie Child Care Facility.

     2013 Project Highlights

    Some of the 2013 highlights and their benefits are summarized below.  These projects have been prioritized based on Council Term Goals as follows:

    Community Safety:

    • Widening of Nelson Road to four lanes at the intersections of Blundell and Westminster Highway, with an off road cycling/pedestrian pathway as well as traffic signal upgrades
    • Continued drainage improvements including an upgrade of the Bath Slough pump station to provide greater pumping capacity

    Community Social Services:

    • Funding for affordable housing projects and initiatives to ensure affordable rents to Richmond residents

    Economic Development:

    • Significant Heritage investment with projects at the Japanese building on Moncton, as well as extensive upgrades at Britannia Heritage Shipyards to help maintain the City’s link with the past

    Facility Development:

    • $2M in upgrades to the West Richmond Community Centre to ensure continued use and enjoyment for City residents

    Financial Management:

    • $5M in funding has been put in place to ensure the City’s can adhere to the land acquisition strategy to meet the long term needs of the City

    Sustainability:

    • Expansion of the City’s Food Scraps/Organics Recycling Program will see $3.25 invested in equipment and rollout of the program to all single family and town homes in the City
    • Railway Avenue Greenway - $2M will be invested to construct the 4.0 m wide two-way multi-use asphalt pathway for with connections to existing trails and bus stops on Railway Avenue improving access to green-space corridors  as well as linking neighbourhoods together 

      

    The following is an overview of the major program areas funded through the capital budget with selected highlights of proposed 2013 initiatives being recommended to Council.

    Infrastructure – $39.0:

     

     

     

     

    The City’s Infrastructure Program funds assets that include: road, drainage and sanitary pump stations, drainage, water, and sanitary mains.  For 2013 it encompasses investing $39 million on improving the City’s civic infrastructure.

    The 2013 program includes interim Landsdowne Road extension, Nelson Road widening, Bath Slough Pump Station, Bennett West Pump Station, Ainsworth and Aintree Laneway drainage and pavement upgrade.

    Equipment – $10.8M:  

      

     

    The 2013 equipment program funds machinery and vehicles for Public Works and Fire Rescue Services, computer hardware, software, library collections, and food scraps/organics recycling program expansion.
    Land – $5.0M:  

     

     

    The 2013 land acquisition program relates to the acquisition of real property for the City, as approved by Council.
    Parks – $5.2M:  

     

     

     

    Richmond is renowned for its high quality parks and recreation facilities, with over 90 parks totaling approximately 1,400 acres. In addition to the City’s parks, Richmond also has a 200-acre recreational trail system.

    The 2013 program includes work on Britannia Heritage Shipyard, Railway Avenue Greenway, Terra Nova Park, and Thompson Youth Park.

    Buildings* – $4.6M

     

     

     *Does not include major facilities which will be the subject of another report

     

    The building program funds major building construction and renovation projects as well as minor facility upgrades and repairs.

    For 2013 the building program includes extensive upgrades to the West Richmond Community Centre, rehabilitation work to the Japanese Building at 3811 Moncton Street, and project design engineering and architecture work for a variety of proposed facility projects.

     Affordable Housing – $0.7M:  

     

     

    Affordable Housing is responsible for coordinating the implementation of the Richmond Affordable Housing Strategy adopted in 2007.

    The 2013 program entails a City-owned site designated for affordable housing to support the development of affordable housing.

     Child Care – $0.1M: 

     
      To address child care needs, the City’s 2013 Child Care program will provide ongoing capital maintenance costs for facilities such as the Hamilton Child Care facility and West Cambie Child Care Facility.

     2013 Project Highlights

    Some of the 2013 highlights and their benefits are summarized below.  These projects have been prioritized based on Council Term Goals as follows:

    Community Safety:

    • Widening of Nelson Road to four lanes at the intersections of Blundell and Westminster Highway, with an off road cycling/pedestrian pathway as well as traffic signal upgrades
    • Continued drainage improvements including an upgrade of the Bath Slough pump station to provide greater pumping capacity

    Community Social Services:

    • Funding for affordable housing projects and initiatives to ensure affordable rents to Richmond residents

    Economic Development:

    • Significant Heritage investment with projects at the Japanese building on Moncton, as well as extensive upgrades at Britannia Heritage Shipyards to help maintain the City’s link with the past

    Facility Development:

    • $2M in upgrades to the West Richmond Community Centre to ensure continued use and enjoyment for City residents

    Financial Management:

    • $5M in funding has been put in place to ensure the City’s can adhere to the land acquisition strategy to meet the long term needs of the City

    Sustainability:

    • Expansion of the City’s Food Scraps/Organics Recycling Program will see $3.25 invested in equipment and rollout of the program to all single family and town homes in the City
    • Railway Avenue Greenway - $2M will be invested to construct the 4.0 m wide two-way multi-use asphalt pathway for with connections to existing trails and bus stops on Railway Avenue improving access to green-space corridors  as well as linking neighbourhoods together 

      

  • Ways to comment

    almost 7 years ago

    2013-2017 5 Year Financial Plan
    Bylaw 8990

    Commenting is now closed. 

    Thank you for your feedback online and at the open house held on February 19th 2013. All comments have been provided to council for their consideration, prior to the 5 year plan final reading on Monday 25th February 2013. 

    Related documents in the Library section on this page are still available for download.

    2013-2017 5 Year Financial Plan
    Bylaw 8990

    Commenting is now closed. 

    Thank you for your feedback online and at the open house held on February 19th 2013. All comments have been provided to council for their consideration, prior to the 5 year plan final reading on Monday 25th February 2013. 

    Related documents in the Library section on this page are still available for download.

    You need to be signed in to add your comment.

    comment
    Submitting your comment
    Cancel