2025 Financial Plan

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 2025 budget in December.

The consolidated budget is $873 million. The proposed consolidated operating portion, $481 million, will pay for a range of regional, sub-regional, and local services to over 440,000 people. The proposed consolidated capital portion allocates $392 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.

The operating portion of the 2025 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

The provisional financial plan was approved with the following amendments from the Electoral Areas Committee which only apply to the Electoral Areas:

• That the transfer to operating reserve for elections be moved from 2025 to 2026;
• That the transfer from building inspection to equipment reserve is reduced from $40,000 to $30,00 in 2025.

Additionally, the following Board Directed Initiatives were approved during the provisional review*:

• Supporting Housing for the Regional Assessment

The following Board Endorsed Initiative is subject to service establishment approval; if successful it will be added to the final budget:

• Implementation of a Regional Transportation Service
• Foodlands Access Service

*If the Board Directed and Board Endorsed initiatives are approved, the impacts will be incorporated into the final budget approval in March.

The capital portion of the 2025 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)

Each term, the Board sets the strategic priorities, policy and direction that guide the activities of the organization. Service planning provides information necessary to create a financial plan and to evaluate overall organizational requirements, new initiatives, proposed service levels and financial implications.

The CRD Board Priorities were developed at the start of the Board term and formed the basis of the CRD’s 2023-2026 Corporate Plan. This plan includes fifteen community need summaries which describe services and initiatives that directly contribute to meeting the most pressing regional needs in the CRD. Each community need summary contains the initiatives, associated staffing, timing and service levels required to advance the CRD’s work.

• Initiatives & Budget Impacts (pdf)
  
  
  

Financial indicators provide insight on trends and measures of organizational and financial performance. They are complemented by asset management and policy development regarding debt management, reserve levels, risk management and facility lifecycles. They also enable better monitoring of expenditures and investments in light of continued service delivery demands.

• Financial Indicators (pdf)