Responsible Fiscal Stewardship
Being a responsible steward of taxpayer dollars has always been one of my highest priorities.
Thanks to careful financial management, Coquitlam has very low debt, healthy reserve funds, continued investment in infrastructure, an asset replacement program, and a strategic investment approach that generates strong returns.
However, the financial landscape for municipalities is changing. Development-related revenues have slowed due to provincial legislative changes and market conditions. Senior governments have increasingly downloaded responsibilities onto municipalities. Provincial downloading cost Coquitlam approximately $37 million over the past three years. This, combined with global economic uncertainty, rising costs, the growing impacts of climate change and increasing regional cost pressures make fiscal discipline more important than ever.
We absolutely must stay focused on delivering the CORE municipal services residents rely on while ensuring every tax dollar is spent wisely. I strongly believe local governments should concentrate on the responsibilities they were created to deliver. Municipalities receive the smallest share of taxpayers’ dollars, so we simply cannot afford to take on responsibilities that belong to provincial or federal governments – even when well-meaning residents ask us to.
I will continue to support finding efficiencies, embracing innovation, and improving the way the City delivers services. Good financial management isn’t about spending less for the sake of spending less - it’s about spending wisely, investing strategically, and delivering the greatest value for residents.
I am committed to protecting taxpayers by keeping Coquitlam fiscally prudent, maintaining stable, predictable, as-low-as-possible property taxes, investing responsibly in the civic infrastructure our community needs, and ensuring the City remains well-positioned to meet future challenges without compromising the high-quality services residents expect.