VANCOUVER Mayor Ken Sim on Monday announced the creation of a task force with a mandate to review the City’s operating and capital budgets to find efficiencies, potential new revenue, opportunities, and any duplications that may exist.
“When we passed this year’s budget, I promised that we would do everything within our power find ways to spend taxpayer money more efficiently and effectively – that’s exactly what today’s announcement is about.” said Sim. “We owe it to taxpayers to ensure their money is treated with respect.”
Led by Randy Pratt, President of Nampa Enterprises, the working group of the Mayor’s Budget Task Force will be entirely volunteer-based, composed of a team of highly respected and experienced CFAs and CPAs: Calvin Buss, Tom Chambers, Vincent Lok, and Lisa Stewart.
“This is a team of highly skilled, experienced professionals,” said Sim. “Their perspectives and expertise will be an invaluable asset as we look to the future of our City’s finances.”
Several key community stakeholders will join as advisors to provide a perspective from public sector and the business community: former Musqueam Councillor Wade Grant, Greater Vancouver Board of Trade President and CEO Bridgitte Anderson, and former Deputy Premier and current BC Ferries Board Chair Joy MacPhail. Additionally, councillors Lenny Zhou and Brian Montague will join to provide Council representation on the task force.
“Our communities depend on the vitality and diversity that businesses bring to our economy. Many small businesses, especially those in the downtown area, are feeling the squeeze of higher rents, labour costs and increased prices for materials and supplies,” said Anderson. “It’s critical that the city work to ensure that tax rates are affordable, and regulations are streamlined to reduce unnecessary burdens, allowing the creation of jobs and businesses to grow, ensuring our city is thriving.”
“I believe this task force is another positive step forward to ensure that the City of Vancouver is making the best possible use of taxpayer dollars,” said Grant. “This announcement will ensure that we can build a strong and resilient future for our city’s finances, leading to a more efficient, effective government.”
The Mayor’s Budget Task Force will report back to Council with actionable recommendations no later than October 2023.
Task Force Mandate:
The Mayor’s Budget Taskforce will review the current City of Vancouver Budget and examine where funds are allocated on a line item basis. The Taskforce priorities will be
to find efficiencies, potential new revenue streams or opportunities, and any duplications that may exist.
The Taskforce will provide actionable recommendations to enable the Mayor and Council, as well as City and political staff, to make the best decisions surrounding City of
Vancouver finances, services, and infrastructure, as well as opportunities and challenges, for consideration in the 2024 budget deliberations and beyond.
Scope of Work:
To review the City of Vancouver Budget and report findings in preparation of the 2024 City of Vancouver budget process. The Taskforce will identify opportunities to improve
service levels, processes, and transparency by examining the City’s Operating and Capital Budgets. The Taskforce will also identify any areas of concern around deferred maintenance, unfunded liabilities, CAPEX, pensions, and equipment replacement costs.
The Vancouver Board of Parks and Recreation, the Vancouver Police Department (VPD), and the Vancouver Public Library will not fall within the scope of this Task Force.
Outcome and Timeline:
The Task Force will produce a comprehensive report over the course of a 6 month period, nominally beginning on April 13, 2023, with a final report to be delivered to the
mayor on or before October 3, 2023, for subsequent presentation to Council and the general public, as a meeting agenda item, in advance of the October 17, 2023 regular Council meeting.
