2024 Financial Plan
The public feedback period is now complete.
The Capital Regional District (CRD) Board reviewed and approved the provisional Financial Plan for 2024 at a special meeting on October 25, 2023:
On January 17, 2024, residents were invited to an online public information session to learn how the regional district develops budgets, makes decisions, and delivers services with consideration of community needs and impact on taxpayers. The presentation also included an overview of the 2024 taxes, rates, and consolidated budget figures, as well as key capital projects planned.
- View the recorded 2024 Provisional Financial Plan Information Session
- Information Session Presentation [PDF]
The final plan was reviewed at a Board meeting on March 13, 2024. Feedback received was collated into a final public engagement report and considered as part of the budget review process. After some discussion, the CRD Board approved the final 2024 Financial Plan.
The public feedback period is now complete.
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Consolidated Budget
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The CRD and CRHD financial plans as well as the anticipated financial plan for the Capital Region Housing Corporation (CRHC) are combined to form a consolidated budget. The CRHC is a wholly-owned subsidiary of the CRD and its financial plan is presented on a different schedule. The CRHC Board will consider their 2024 budget in December.
The consolidated budget is $724 million. The proposed consolidated operating portion, $430 million, will pay for a range of regional, sub-regional, and local services to over 440,000 people. The proposed consolidated capital portion allocates $294 million towards a range of projects.
The provisional Financial Plan impact is unique for each municipality, electoral area and First Nation as each participates in a different set of services.
Consolidated Budget Overview (PDF) *amounts rounded up to nearest $M
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Operating Budget
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The operating portion of the 2024 preliminary budget pays for the expenses required to advance Board strategic priorities, including labour, supplies, programs, services and repayment of debt for major projects.
CRD Operating Overview (PDF) *amounts rounded up to nearest $M
Additionally, the following Board Directed Initiatives were approved during the provisional review:
- A one-time funding increase for the Alliance to End Homelessness for the continued support of operations through 2024
- A three-year renewal fund for the Aboriginal Coalition to End Homelessness
- Amendments from the Electoral Areas Committee on October 23, 2023:
To reduce the requisition for 2024 in the Nuisances & Unsightly Premises Service by $5,000, funding instead from operating reserve.
To reduce the requisition for 2024 Elections Service by $25,000.
The following Board Endorsed Initiative is subject to service establishment approval; if successful it will be added to the final budget:
- Foodlands Access Service
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Capital Budget
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The capital portion of the 2024 preliminary budget pays for new and enhanced infrastructure, including renewal and replacement of existing structures. This includes the acquisition of buildings and facilities, as well as construction and upgrades to assets.
CRD Capital Overview (PDF) *amounts rounded up to nearest $M
Capital Projects List (PDF)
Videos
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Residents were invited to an online information session to learn how the regional district develops budgets, makes decisions, and delivers services with consideration of community needs and impact on taxpayers. The presentation also included an overview of the 2024 taxes, rates, and consolidated budget figures, as well as key capital projects planned.