Financial Plans

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The Financial Plan provides detailed funding requirements over the next 5 years and also articulates financial priorities and issues. It helps staff manage day-to-day operations by providing financial and policy information and by identifying financial and staffing resources available to provide services.

The Plan serves as a communication device that gives all readers a comprehensive look at the services provided by the City and the costs related to those services. The City's Financial Plan Summaries are available for download.

 

Financial Plans

Please select a Financial Plan below:

2018 Financial Plan

The City of Langley hosted a Financial Plan Open House on Wednesday, January 31st at 6:00 pm -7:30 pm in the Langley City Hall Finance Department foyer (20399 Douglas Crescent).  The 2018 Financial Plan had a gap of $1,268,790 between total revenues and planned expenditures which would equate to a 4.94% increase in property taxes to balance the budget. 

Including utility rate increases, the impact on an average single-family home (assessed at $828,285) would be an increase of 1.47% or $45 and an average multi-family home (assessed at $327,350) would see an increase of 10.48% or $130.  Under provincial law, the same tax must be applied to both types of residential properties. The different percentage increase is due to the assessed value of multifamily homes, increasing on average 17% more than single-family homes, reversing the trend seen in the last 5 years.  The average multifamily homes taxes have increased 7.14% or $91 since 2014 including the sizable increase in 2018 due to tax reductions in prior years.

City Council held a Committee of the Whole meeting at 7:00 pm on Monday, February 5th in the Council Chambers where a public presentation of the Financial Plan was be made.  Following the presentation, there was an opportunity for the public to share their views with City Council on how the shortfall should be addressed. Additional information can be found on our website at www.langleycity.ca

The capital construction expenditure budget, not included above, is $11,788,695 for 2018 and is funded through transfers from reserves and casino proceeds.

 

Financial Plan Documents for Download

2018 Financial Plan 

Financial Plan Infographic

2018 Tax Insert

 

 

 

 

2017 Financial Plan

The City of Langley will be hosting a Financial Plan Open House on Wednesday, February 1st at 6:00 pm in the Langley City Hall Finance Department foyer (20399 Douglas Crescent).  The 2017 Financial Plan currently has a gap of $883,595 between total revenues and planned expenditures which would equate to a 3.61% increase in property taxes to balance the budget.  Including utility rate increases, the impact on an average multi-family home (assessed at $253,636) would be an increase of 3.20% or $39 and an average single family home (assessed at $728,339) would see an increase of 5.92% or $170.

City Council will be holding a Committee of the Whole meeting at 7:00 pm on Monday, February 6th in the Council Chambers where a public presentation of the Financial Plan will be made.  Following the presentation, there will be an opportunity for the public to share their views with City Council on how the shortfall should be addressed. Additional information can be found on our website at www.city.langley.bc.ca

The capital construction expenditure budget, not included above, is $21,758,145 for 2017 and is funded through transfers from reserves and senior government infrastructure grants.

Financial Plan Documents for Download

Budget Message

Budget Highlights

Financial Plan Fact Sheet

Financial Plan

Capital Improvement Plan