The City of North Vancouver is seeking public input on the draft 2025 budget from January 3 – 17, 2025. Today the City released budget details along with a survey to gather and share public priorities and feedback with Council on January 27th, 2025.
Each year, the City develops a balanced budget that determines how much it needs to spend to provide services and how much revenue it will need to fund those services. While the majority of the budget supports core services like police, fire and rescue, waste collection and road maintenance, the budget process allows Council to prepare for emerging and future needs of residents and businesses.
The draft 2025 budget includes a base budget of $352.9.million, and projects a 6.89 per cent increase in taxes on the average home in the City in 2025. The three main categories of this budget are:
- Operating Budget of $110.3. million
This investment ensures the dependable delivery of essential services and programs that residents rely on like recreation, fire and rescue, police services, culture parks and police services.
- Capital Budget of $82.8 million
The Capital Budget is an investment plan for maintaining, improving and building essential infrastructure like roads and sidewalks, parks, trails and public spaces, and projects like the Harry Jerome Community Recreation Centre, and the North Shore Neighbourhood House Redevelopment.
- Utility Budget of $58.6 million
The Utility Budget supports the effective and sustainable delivery of water, sewer services and waste collection.
How is the Budget Funded?
When funding the annual budget, the City identifies and accounts for all sources of revenue, which include fees for permits and licensing, rent earned from City land, grants from different levels of government, and interest on investment income. After all revenues have been exhausted, property taxes are then applied to fill the balance. The City continually seeks new revenue streams and capacity-building opportunities to inform the City’s budgeting process.
What are the Key Factors Driving the Draft 2025 City Budget?
- Adapting to economic shifts like inflation and interest rate changes and responding to major cost overruns from Metro Vancouver on North Shore wastewater infrastructure by helping lessen the impact on resident utility bills.
- Resources needed to begin and complete major capital projects like North Shore Neighbourhood House, Mahon Fieldhouse and Childcare Centre, Harry Jerome Community Recreation Centre and Silver Harbour Seniors Centre.
- Taking action on provincial legislative changes related to residential and transit oriented housing targets.
- Seeking opportunities from provincial legislative changes allowing for an expansion in the projects that can be funded with developer contributions and federal and provincial funding for new housing projects and tools.
How Can the Public Get Involved?
The public can learn more about the draft budget and take the online survey by visiting cnv.org/budget2025.
- Print copies will be available at City Hall beginning January 3rd and at North Vancouver City Library and John Braithwaite Community Centre beginning January 6th, and can be submitted onsite or by mail.
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The public can provide feedback to finance@cnv.org or leave a message at 604-985-7761.
- The survey closes at midnight on January 17th. All print copies or emails must be received by January 17th.
A summary of feedback will be shared during the City Council meeting on January 27th, 2025. The public can sign up to speak at this City Council meeting. To register, visit cnv.org/PublicMeetings or call 604-990-4230.