Vancouver City Council has approved the City’s 2020 Budget and Five-Year Financial Plan, including a $1.6 billion operating budget and a $502 million capital budget for new projects in 2020.
Included was approval of $21 million of new investments in the 2020 operating budget to support this Council’s priorities:
Deliver quality, core services that meet residents’ needs
Address affordability and the housing crisis
Protect and build our economy
Increase focus on diversity and critical social issues
Thank you #Vancouver City Council for supporting the #VPD & approving 25 new police officers & 10 new civilian professionals for the 2020 budget! @VancouverPD @CityofVancouver @VanPoliceBoard #PublicSafetyMatters pic.twitter.com/s2MbHIhpaj
— Adam Palmer (@ChiefPalmer) December 18, 2019
“This budget reflects the priorities and choices of all Councillors and responds to the concerns we all heard from the public,” said Mayor Kennedy Stewart. “We're making critical investments in core front-line services like fire and rescue, police, libraries, community centres, homelessness and housing, while reducing or delaying spending in non-priority areas.”
Council also approved a property tax increase of 7.0%, which for the median overall residential property owner in Vancouver is equivalent to approximately $130 for the year or $11 per month, and $225 additional for 2020 for the median business property.
The approved property tax increase is comprised of:
3.4% to cover increases in fixed costs – funding required to maintain City services at present levels e.g. estimated impacts of future collective agreements and increases in rent, insurance, etc.
1.7% to fill service gaps and address risks – including the addition of more police officers and fire fighters, improvements to the building permitting process, and addressing compliance-related items (e.g. WorkSafe, health and safety).
1.9% in investments to advance Council’s priorities – initiatives such as more affordable and social housing, investments in arts and culture, addressing the climate emergency, and a new city-wide planning process (the Vancouver Plan).
The approved property tax increase was reduced from the 8.2% in the draft budget presented in early December, and was achieved with reductions across the City’s operations including:
Delayed hiring for new positions to reduce staffing costs
Reductions in discretionary costs such as training, travel and consulting fees
A reduced snow reserve from $2 million to $1 million
Reduced funding for the City’s portion of support for Oppenheimer Park (from $1 million to $0.5 million) Reduction of the 2020 portion of the city-wide plan budget using carryover funding from 2019
Also approved were the Vancouver Park Board budget of $136 million in expenditures, the Vancouver Public Library expenditure budget of $55 million, and the $339 million Vancouver Police Board operating budget.