Finance

All local governments in B.C. operate within a legislative framework that governs their administration and finances including financial planning, reporting, revenues (taxes and fees), liabilities, capital financing, development financing, and property acquisition and disposition.

The purpose of financial reporting is to ensure the transparency and accountability of the local government system.  Through the annual budgeting process, local governments are accountable to their citizens and businesses for how they plan to provide necessary public services and projects in a cost-effective manner, and how they intend to raise the funds to pay for those services and projects. The budgeting process helps local governments in determining their tax rates for the year.

Property taxation is the main source of revenue for local governments. This revenue helps defray the costs of local government services such as general administration, planning, water, sewer, transportation, drainage, garbage collection, libraries, protective services, and parks & recreation.

Local governments may impose fees and charges for the provision of services, use of property, exercise of regulatory authority, or for obtaining copies of local government records. Fees and charges are established by bylaw.