City Manager submits recommended 2025/26 biennial budget to Vancouver City Council

City Manager submits recommended 2025/26 biennial budget to Vancouver City Council

October 1, 2024

Today, City Manager Eric Holmes submitted his recommended 2025/26 biennial budget to the City Council.

"With this recommended budget, we have largely been able to minimize the impact on City services," said City Manager Eric Holmes. "Through targeted reductions, cost reallocations, and the addition of new revenues, the budget largely maintains our capacity to provide core services and enables a range of strategic investments to serve our growing community."

The recommended budget reflects the values and priorities in the City's Strategic Plan and the Council and community's priorities and expectations within the existing resource constraints, including meeting the projected $43 million budget gap.

The balanced recommended budget includes approximately $2.1 billion in total expenditures across all funds for the biennium, including $769.2 million for the general, street and fire funds and $582.9 million in capital expenditures.

The recommended budget includes several new revenue sources supporting police, fire, economic development, parks and transportation infrastructure. Some of these are continued implementation of revenue phase-ins adopted by the City Council over the last two biennia. The recommended budget also includes implementing a Business and Occupation Tax on retail services dedicated to constructing and operating a new bridge shelter to help address our continued homelessness emergency. The recommended budget includes an Admissions Tax and Cultural Access Sales Tax to support new investments in arts and cultural facilities and programs.

The details of the operating and capital budgets will be provided in a series of meetings with the Vancouver City Council. The Council will then review and vote on the budget at a regular meeting and hold a separate public hearing.

• October 7 - Proposed Budget Presentation Workshop
• October 14 - Operating Budget Workshop
• October 28 - Capital Budget Workshop
• November 4 - First Reading of Budget Ordinances
• November 18 - Public Hearing, Second Reading and Adoption Hearing
• January 1, 2025 - 2025-26 Operating and Capital Budgets go into effect

The budget was developed in collaboration with incoming City Manager Lon Pluckhahn, who will assume the role of city manager at 5 p.m. on Oct. 11.

"This budget reflects the City's Council's ongoing priorities and supports the City's mission," said incoming City Manager Lon Pluckhahn. "It advances significant projects across Vancouver to support economic investments and address our housing needs."

The recommended budget document, City Manager's budget message, map of proposed capital projects, budget dashboard of the City's proposed operating and capital budget, and other related information are available at Budget 2025-26.

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Media contacts:
Laura Shepard, Communications Director, [email protected]
Tim Becker, Strategic Communications Manager, [email protected]

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