Annual Municipal Report Public Engagement

Tell us what you think about the 2024 Annual Municipal Report

The City's 2024 Annual Municipal Report, which includes the City's financial statements for the year ended December 31, 2024, is now available for your feedback. Residents can submit their comments and questions through the submission form below until Wednesday, May 7, 2025 to be shared with City Council. The report provides the City's audited financial position, statistical information and accomplishments. 

The process of annual reporting helps residents understand the City’s responsibilities and priorities while providing an opportunity to provide feedback on our financial statements. 

Read the Annual Municipal Report

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

Read the Annual Municipal Report Highlights

Understanding the financial statements

The consolidated accumulated surplus reported on the financial statements is a key measure of the City's financial strength and long-term sustainability. The accumulated surplus consists of the City’s reserve funds and reserve 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 2024 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, assets provided through the development process (also known as contributed assets), 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 the Community Safety Building. These capital reserves also fund the City's investments in non-market housing and more. 

Setting aside surplus in the City’s reserve funds and 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.  

Share your feedback

Closes: May 7, 2025

We will share all public comments with Council before they receive the Annual Municipal Report.