2023 Draft Budget


Thank you for providing feedback on the 2023 Draft Budget and the City core services and programs that matter most to you.


Update

The final 2023-2027 Financial Plan is now available. City Council adopted the Financial Plan at the Daytime Council Meeting on May 4, 2023.

Over a two-week span, the community was invited to provide feedback on the 2023 Draft Budget and the City core services and programs that matter most to them by participating in a public meeting on February 23, completing a short online survey and emailing their feedback to engage@victoria.ca by Sunday, March 5.

All public feedback was shared with Council at the Committee of the Whole Meeting on Thursday, March 16 at 9 a.m. to help inform final budget decisions. You can read the public engagement summary and watch the archived webcast.


What’s Proposed?

Council was considering a 6.96 per cent tax increase this year to match inflation, down from an 8.99 per cent increase proposed in January.

Inflation has increased the costs of goods, services and labour, meaning the City’s budget must also increase to continue to deliver the same level of programs and services that Victoria residents expect, while considering the best value for tax dollars. As the City enters the fourth year of the COVID-19 pandemic, it is facing different pressures – some are economic, some are environmental – all are global.

On February 6, a Council motion directed staff to develop a new 2023 Draft Budget that caps the property tax increase at inflation – 6.96 per cent – and that the Police Board develop a new draft budget at the same rate.

On February 17, Council approved in principle a budget that includes mitigation strategies to achieve the lower tax rate, in addition to reprioritizing some operations. Information about these proposed adjustments is included in the 2023 Draft Budget Summary and is not yet reflected in the 2023 Draft Budget.

The Police Board will present its 2023 VicPD Provisional Budget to Council at a later date for consideration.

The City’s 2023 Draft Budget proposes to invest $297.95 million in the operating budget and $64.9 million in capital budget improvements.

UPDATE: March 16, 2023
At the Daytime Council Meeting on March 16, 2023, Council directed the following:

1. That Council allocate $150,000 grant to activate the Victoria Music Strategy funded from contingency.

2. That Council direct staff to implement paid on-street and parkade parking from 8am - 9am and 7pm - 8pm, at rates to be determined by staff, with all funds to be re-invested in the downtown core towards beautification and maintenance, cultural opportunities, new public parks and amenities, and investigate programs to support downtown safety.

3. That Council direct staff allocate funds to help a pilot project to mitigate the harm to housed and unhoused people living, or operating businesses, in and around outdoor sheltering. The suggested initial cost allocation of $50,000 would come from an application to the provincial government, or if unsuccessful, then from surplus and/or contingency funds.

4.That staff look to remove $500,000 from the 2023 contributions to the Parking Reserve Fund and $1,000,000 from the 2023 contributions to the Debt Reduction Reserve, and that those monies be directed to reducing the property tax increase, and that Council direct staff to restore these funds for the 2024 draft budget.

5. That Council allocate funds of $110,000 annually for 2023-27 to the Greater Victoria Community Social Planning Council to support the Greater Victoria Rent Bank from the Housing Reserve Fund.

AND THAT the Community Social Planning Council be requested to provide annual reports on the performance of the Rent Bank Program prior to the following year's annual City budget deliberations.

And that Council:

1. Approve the direct-award grants as outlined in Appendix A to this report
2. Approve other grants as outlined in Appendix B to this report
3. Approve allocating any remaining new property tax revenue from new development to the Buildings and Infrastructure Reserve
4. Direct staff to bring forward the Five-Year Financial Plan Bylaw, 2023 to the April 27, 2023, daytime Council meeting


What You Need to Know


Have Your Say
There were three opportunities to provide feedback on the 2023 Draft Budget and City core services and programs:

  1. Complete a short online survey by 11:59 p.m. on Sunday, March 5.

  2. Email your input to engage@victoria.ca with "City Budget" in the subject line by 11:59 p.m. on Sunday, March 5.

  3. Participate in a public meeting on Thursday, February 23 at 6:30 p.m.:
    • Attend in person and address Council for up to five minutes in Council Chambers.

    • Submit written comments:
      • Email: legislativeservices@victoria.ca
      • Mail: Legislative Services, 1 Centennial Square, Victoria, BC V8W 1P6
      • Drop off: to the Ambassador in the City Hall foyer (use entrance off Pandora Avenue)
      • Written comments must be received by 2 p.m. on Thursday, February 23 and will form part of the meeting's agenda package

    • Submit a pre-recorded video:
      • Email: legislativeservices@victoria.cafor instructions on how to upload your video
        • Maximum five minutes in length
        • File formats: MP4 video, QuickTime Movie, M4A file
        • Must be received by 2 p.m. on Tuesday, February 21
        • Your video will be played during the public meeting

    • Pre-register to speak live via telephone
      • Email: legislativeservices@victoria.ca
      • You will have a maximum of five minutes to address Council
        • Register by 2 p.m. the day before the meeting (Wednesday, February 22)
        • Alternatively, you may watch the meeting live stream and call to speak during the public meeting. Call 778.698.2440, participation code 1551794#

You could tune in live or can watch the archived public meeting.


Thank you for providing feedback on the 2023 Draft Budget and the City core services and programs that matter most to you.


Update

The final 2023-2027 Financial Plan is now available. City Council adopted the Financial Plan at the Daytime Council Meeting on May 4, 2023.

Over a two-week span, the community was invited to provide feedback on the 2023 Draft Budget and the City core services and programs that matter most to them by participating in a public meeting on February 23, completing a short online survey and emailing their feedback to engage@victoria.ca by Sunday, March 5.

All public feedback was shared with Council at the Committee of the Whole Meeting on Thursday, March 16 at 9 a.m. to help inform final budget decisions. You can read the public engagement summary and watch the archived webcast.


What’s Proposed?

Council was considering a 6.96 per cent tax increase this year to match inflation, down from an 8.99 per cent increase proposed in January.

Inflation has increased the costs of goods, services and labour, meaning the City’s budget must also increase to continue to deliver the same level of programs and services that Victoria residents expect, while considering the best value for tax dollars. As the City enters the fourth year of the COVID-19 pandemic, it is facing different pressures – some are economic, some are environmental – all are global.

On February 6, a Council motion directed staff to develop a new 2023 Draft Budget that caps the property tax increase at inflation – 6.96 per cent – and that the Police Board develop a new draft budget at the same rate.

On February 17, Council approved in principle a budget that includes mitigation strategies to achieve the lower tax rate, in addition to reprioritizing some operations. Information about these proposed adjustments is included in the 2023 Draft Budget Summary and is not yet reflected in the 2023 Draft Budget.

The Police Board will present its 2023 VicPD Provisional Budget to Council at a later date for consideration.

The City’s 2023 Draft Budget proposes to invest $297.95 million in the operating budget and $64.9 million in capital budget improvements.

UPDATE: March 16, 2023
At the Daytime Council Meeting on March 16, 2023, Council directed the following:

1. That Council allocate $150,000 grant to activate the Victoria Music Strategy funded from contingency.

2. That Council direct staff to implement paid on-street and parkade parking from 8am - 9am and 7pm - 8pm, at rates to be determined by staff, with all funds to be re-invested in the downtown core towards beautification and maintenance, cultural opportunities, new public parks and amenities, and investigate programs to support downtown safety.

3. That Council direct staff allocate funds to help a pilot project to mitigate the harm to housed and unhoused people living, or operating businesses, in and around outdoor sheltering. The suggested initial cost allocation of $50,000 would come from an application to the provincial government, or if unsuccessful, then from surplus and/or contingency funds.

4.That staff look to remove $500,000 from the 2023 contributions to the Parking Reserve Fund and $1,000,000 from the 2023 contributions to the Debt Reduction Reserve, and that those monies be directed to reducing the property tax increase, and that Council direct staff to restore these funds for the 2024 draft budget.

5. That Council allocate funds of $110,000 annually for 2023-27 to the Greater Victoria Community Social Planning Council to support the Greater Victoria Rent Bank from the Housing Reserve Fund.

AND THAT the Community Social Planning Council be requested to provide annual reports on the performance of the Rent Bank Program prior to the following year's annual City budget deliberations.

And that Council:

1. Approve the direct-award grants as outlined in Appendix A to this report
2. Approve other grants as outlined in Appendix B to this report
3. Approve allocating any remaining new property tax revenue from new development to the Buildings and Infrastructure Reserve
4. Direct staff to bring forward the Five-Year Financial Plan Bylaw, 2023 to the April 27, 2023, daytime Council meeting


What You Need to Know


Have Your Say
There were three opportunities to provide feedback on the 2023 Draft Budget and City core services and programs:

  1. Complete a short online survey by 11:59 p.m. on Sunday, March 5.

  2. Email your input to engage@victoria.ca with "City Budget" in the subject line by 11:59 p.m. on Sunday, March 5.

  3. Participate in a public meeting on Thursday, February 23 at 6:30 p.m.:
    • Attend in person and address Council for up to five minutes in Council Chambers.

    • Submit written comments:
      • Email: legislativeservices@victoria.ca
      • Mail: Legislative Services, 1 Centennial Square, Victoria, BC V8W 1P6
      • Drop off: to the Ambassador in the City Hall foyer (use entrance off Pandora Avenue)
      • Written comments must be received by 2 p.m. on Thursday, February 23 and will form part of the meeting's agenda package

    • Submit a pre-recorded video:
      • Email: legislativeservices@victoria.cafor instructions on how to upload your video
        • Maximum five minutes in length
        • File formats: MP4 video, QuickTime Movie, M4A file
        • Must be received by 2 p.m. on Tuesday, February 21
        • Your video will be played during the public meeting

    • Pre-register to speak live via telephone
      • Email: legislativeservices@victoria.ca
      • You will have a maximum of five minutes to address Council
        • Register by 2 p.m. the day before the meeting (Wednesday, February 22)
        • Alternatively, you may watch the meeting live stream and call to speak during the public meeting. Call 778.698.2440, participation code 1551794#

You could tune in live or can watch the archived public meeting.

Page last updated: 13 Dec 2023, 09:59 AM