Fiscal Sustainability & Municipal Services
Updated July 2016
In April, Council took a critical step to ensure the long-term fiscal health of the District by authorizing the creation of an asset levy to provide for maintenance and replacement of the District’s $1 billion worth of capital assets. The 5.25 per cent levy represents a major step forward for the District’s ability to ensure future residents will enjoy the same high levels of services and quality facilities as current residents.
We are building a long-term financial plan to address all aspects of capital planning, including creating and funding reserves for infrastructure maintenance and replacement cycles. A long-term approach combined with an appropriate mechanism for funding had not been considered by previous Councils.
This new approach is intended to address the infrastructure maintenance and replacement gap that is forecast for the District of West Vancouver.
Staff are beginning a core services review to produce a complete and current account of every service the District provides while making sure that taxpayers are getting the services they want, delivered as cost-effectively as possible.