Financial & Annual Reports

Financial Reports

2024-2028 Financial Plan

Every day, City staff work hard to provide residents with waterworks and sanitary sewer services, reliable transportation and infrastructure, fire and police services, community amenities, and parks & recreational programming. The 2024-2028 Financial Plan outlines the funding needs to meet current priorities as well as looking at future requirements to meet the City’s growing needs. Check out what’s planned for the next 5 years. 

2023 Annual Municipal Report

The 2023 Annual Municipal Report provides City financial results for the 2023 fiscal year, prepared in accordance with Canadian public sector accounting standards established by the Public Sector Accounting Board and the requirements of the Province of BC, Ministry of Municipal Affairs and Housing. 

Understanding the Financial Statements

The consolidated accumulated surplus reported on the financial statements is a key measure of the City of Burnaby’s financial strength and long-term sustainability. The accumulated surplus consists of the City’s Reserve funds and Reserves as well as the value of our capital assets used to provide our core services and programs such as park land, recreation centres, roads, fire halls, civic buildings, and vehicles used for garbage and recycling collection and servicing the community. 

The 2023 annual surplus represents the growth in the accumulated surplus from the previous year. The majority of the surplus was generated from developer contributions such as community benefit bonus contributions, grants received for future capital projects, and associated investment income earned. These funds will continue to help the City finance future infrastructure and community amenities such as the Cameron Community Centre and Library, Burnaby Lake Recreation Complex, and James Cowan Theatre Redevelopment. These capital reserves also fund the City’s investments in non-market housing and more. 

Setting aside surplus in the City’s reserves saves money for Burnaby taxpayers. By setting aside these funds, the City is able to build community amenities and infrastructure without borrowing and incurring debt charges. This stability also allows the City to keep tax increases consistently among the lowest in the region. 

As the City’s population continues to grow, the ability to invest into the future while minimizing the impact on tax rates remains a Council priority.  

For an executive summary of the City’s financial results along with supplementary information view our Annual Municipal Reports Highlights. 

2022 Statement of Financial Information (SOFI)

The Statement of Financial Information (SOFI) is a Public Accounts report prepared in compliance with the Financial Information Act, Statutes of British Columbia (Canada), Chapter 140. It contains Burnaby’s asset and liability statement, operational statement, schedule of debts, schedule of guarantee and indemnity agreements, a schedule showing remuneration and expenses paid to or on behalf of employees and a schedule showing payments for suppliers of goods or services.

Have questions about our financial reports or annual reports? Contact us.