Local Government Finance covers local revenue sources such as fees, charges and property taxes to fund operating and capital service expenditures.
Local Government Finance also monitors and approves long-term capital borrowing by municipalities and regional districts, and coordinates with several arms-length bodies such as British Columbia Assessment and the Municipal Finance Authority of BC.
Local governments are responsible for ensuring that they receive sufficient revenue in order to pay for their expenditures. Planning for revenues and expenditures is accomplished by various means such as the development of a five year financial plan, an annual budget and an annual municipal report. Among other items, the annual report must include a progress report on the performance of the municipality with respect to its stated objectives and measures.