The City of Vancouver is currently running a $500 million annual infrastructure funding deficit.

In 2023 alone, Vancouver spent more than $150 million in operating expenses and more than $230 million in capital expenditures outside of traditional service areas, all while depleting reserves.

At the same time, the city faces increasing costs due to the federal and provincial governments’ ongoing practice of downloading responsibilities in areas such as housing access and affordability, opioid use, mental health, climate change, childcare, and cost-of-living.

Funding all of this has led to unsustainable property tax increases for residents and businesses.

Solutions to the city’s fiscal crisis range from securing a more equitable distribution of tax and grant revenues from senior governments to better managing absenteeism, according to a newly released report from the Mayor’s Budget Task Force.

This task force, established by Mayor Ken Sim in April 2023, has released 17 recommendations on how the city can improve its financial health.

“Our suggestions are more than recommendations; they are a blueprint for a sustainable, thriving future,” said Randy Pratt, CPA, CA, chair, Mayor’s Budget Task Force, which includes 30 volunteer advisors, members, and researchers from business, non-profits, and government. 

At the January 23, 2024 council meeting, Vancouver council reviewed the task force report and recommendations including two recommendations that generated lengthy discussion and media attention:

• Non-Core Assets: consider divesting non-core assets or private sector ownership of non-core assets, and/or private management or public-private partnerships for them, enabling the city to better prioritize resources and focus on operational excellence within core areas.
• Strategic Partnerships: creating an office of strategic partnerships with philanthropic, business, and non-profit communities to explore ways to generate additional revenue from civic assets through expanding sponsorships and naming rights.

Implementation Oversight Committee: in response to the Task Force’s recommendations, council unanimously passed a motion at the January 23 council meeting to establish an Implementation Oversight Committee. This committee will guide and oversee the implementation of the task force’s recommendations.

Council and staff will take the time to review the report in depth. 

Some decisions regarding adoption of recommendations will be made in camera, in keeping with the requirements and rules in the Community Charter.

The city wants to hear from a diversity of voices. Residents will have an opportunity to provide comments and feedback in the future. 

Read the Mayor’s Budget Task Force report (opens 36-page pdf).

Watch the Vancouver council meeting focused on the Mayor’s Budget Task Force Report.

Read some concerns about the proposed recommendations.

If you have comments about Mayor Ken Sim’s Budget Task Force Report, contact Harriet Permut, director of government relations at hpermut@rebgv.org.