Burnaby's 2025 Annual Municipal Report is available for input

The City of Burnaby's 2025 Annual Municipal Report, including the City's financial statements for the year ended December 31, 2025, is now available for your feedback. Residents may submit their comments and questions through the submission form until Wednesday, April 29, 2026 to be shared with City Council. The report provides the City's audited financial position, statistical information and accomplishments.

For an executive summary of the City’s financial results along with supplementary information, view the 2025 Annual Municipal Report Highlights.

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

Understanding the Financial Statements

As required by the Community Charter, the City of Burnaby, like all municipalities in the province, prepares its consolidated annual financial statements in accordance with Public Sector Accounting Standards (PSAS) as issued by the Public Sector Accounting Board (PSAB). Accordingly, revenues and expenditures reported in the financial statements are presented on a consolidated basis, reflecting revenues received and expenditures incurred by the City from all sources, not solely those related to operations funded through property taxation.

The accumulated surplus reported on the consolidated annual financial statements is a key measure of the City of Burnaby’s financial strength and long-term sustainability. The accumulated surplus consists of the City’s reserve funds and reserves as well as the value of our tangible 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 2025 annual surplus represents the growth in the accumulated surplus from the previous year. The majority of the annual surplus was generated from revenues through development-related activities, including building permit revenues, community benefit bonus contributions, contributed tangible capital assets through development, grant funding received for future capital projects and associated investment income earned. These funds will continue to help the City finance community services, future infrastructure and community amenities such as the Cameron Community Centre and Library, Burnaby Lake Recreation Centre and the Community Safety Building. The City's reserves and reserve funds help support the City's investments in non-market housing initiatives and more.

At the end of each fiscal year, allocating realized annual surpluses to the City’s reserves and reserve funds helps reduce long-term costs for Burnaby taxpayers. By building these reserves, the City can invest in community amenities and infrastructure without relying on borrowing and incurring debt servicing costs. This financial stability also supports the City’s ability to keep property tax increases stable and consistently among the lowest in the region.

As the City’s population continues to grow, the ability to invest into the future while maintaining stable tax rates for Burnaby taxpayers remains a Council priority.

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