Official Community Plan - District of North Vancouver

Financial Statement
12.4
Achieving our vision for the future of the community requires that financial sustainability,
including taxpayers’ ability to pay, be considered in all municipal decision-making. An analysis
of the financial implications of the key strategic directions accompanied the development
of this plan. In addition to its environmental and social benefits, the urban structure or
“network of centres” concept proposed by this plan brings long-term financial efficiencies
to the operations of the municipality. Concentrating population growth in specific centres
allows for greater efficiency in service and infrastructure provision, resulting in reduced
per capita costs. Enabling strategic residential and commercial growth in these centres and
the more productive use of industrial and light industrial employment lands will provide
greater net tax revenue for the District. Under this growth management model, increases in
revenue are anticipated to exceed increases in service costs. At the same time, this model of
growth management also provides opportunities for increased municipal revenue in the form
of community amenity contributions and development cost charges that the municipality
can use for improved amenities on behalf of the community. Implementation of the OCP’s
network of centres concept is anticipated to result in an overall enhanced financial, social and
environmental setting for District residents. Long-term financial planning and the allocation of
District revenues and resources must be coordinated with the OCP towards the achievement of
the community’s diverse goals and objectives expressed in this plan.
Long Term Financial Plan
The District’s objective is to achieve long term financial resilience in pursuit of the vision, goals
and associated services included in the OCP. It recognizes these five elements as essential to
developing its long-term financial plan and achieving this objective:
1. Long-term service vision – defined at the level of municipal programs, includes expected
levels of service and intended outcomes for the community
2. Supporting financial policy - including clear statements on governance and efficiency,
program costing and funding, growth related revenue, long-term funding for major capital
requirements, and long-term fund balances required to achieve the goal of financial
resilience
3. Analysis and forecasting - including the development of the necessary tools to model longterm
policy impacts and changes in the fiscal environment
4. Collaborative and participatory process - including public and stakeholder engagement
and a system for priority based budgeting guided by the long-term services vision
5. Connection to other plans - ensuring the long-term financial plan is inclusive of all
approved plans, policies and interdependencies
DNV Official Community Plan | Part Three 89