Award-winning Financial Planning

The City earned Distinguished Budget Presentation Awards for the 2018 and 2019 Financial Plans as well as an Award of Excellence for the Colwood Sustainable Infrastructure Replacement Plan from the Government Financial Officers Association.

The City of Colwood is committed to sound financial management and is required by legislation to present a balanced budget every spring.

Like any business or household, the needs and expectations of a municipality are often greater than what can be afforded at one time. Difficult choices must be made based on the priorities of the community and Council. The goal is to deliver a high level of service that strikes a balance between household prosperity and city-building initiatives that will improve quality of life while optimizing our tax base. 

2021 Budget process

Each fall, staff facilitate a Service Review process to reaffirm Council's service expectations and clarify priorities for the coming year.

Following the Service Review, a draft financial plan is prepared for review and discussion in a series of public meetings.

Below is the 2021 schedule of public budget deliberation meetings to review and discuss the 5-Year Financial Plan 2021-2025.

Colwood residents were encouraged to attend meetings to learn more and provide input. Feedback is also welcome by email to finance@colwood.ca.

Date Meeting Budget Topic
Feb 8, 2021 Regular Council Meeting Grant in Aid Applications
March 2, 2021 Special Committee of the Whole Budget Deliberations 
March 3, 2021 Special Committee of the Whole Budget Deliberations 
March 16, 2021 Special Committee of the Whole Budget Deliberations 
March 29, 2021 Special Committee of the Whole Budget Deliberations
April 26, 2021 Regular Council Meeting Financial Plan Bylaw Introduction
May 10, 2021 Regular Council Meeting Tax Rate Bylaw Introduction
May 12, 2021 Special Meeting of Council Financial Plan Review
May 13, 2021 Special Meeting of Council Financial Plan Bylaw and Tax Rate Bylaw

Check the Meeting Calendar for information about all City meetings.

Property tax notices are prepared after the financial plan and tax rate bylaws are adopted by Council. Tax notices are issued near the end of May and tax payments are due on the first business day after July 1st.

Read more about Property Tax.

Financial Plans

Current: 5-Year Financial Plan 2021-2025
Past: 5-Year Financial Plan 2020-2024

What is Colwood's overall direction for the future?

The Colwood Official Community Plan outlines the City's vision, goals and objectives based on the input of more than 1400 direct interactions with residents and stakeholders.

Read about Council's Strategic Priorities. Goals for 2019-2023 focus on enhancing Mobility, Prosperity, Governance and Vibrancy.

Additional guiding documents include the Transportation Master Plan, Economic Development Strategy, the Parks & Recreation Master Plan and others. Find them all at www.colwood.ca/Plans.