Fiscal Sustainability & Municipal Services
Updated July 2017
The District is taking vital measures to achieve fiscal sustainability. In the first half of 2017, we did the following.
- Provided an additional $1.5M for asset reserves, for an asset levy total of $4.58M, to help close the infrastructure gap
- Reviewed the state and condition of all District assets and established asset performance ratings
- Completed a new asset policy and guidelines for asset accounting and management
- Instituted a key performance indicator framework and reporting.
We are also participating in a pilot project to develop a natural capital accounting framework for the District. Natural capital accounting assigns value to natural assets which include geology, soil, air, water and all living things.
From natural capital, we derive ecosystem services which make human life possible. These include our food, water, air and the plant and animal materials we use for things like fuel, building materials and medicines. A very visible ecosystem service for West Vancouver is the climate regulation and natural flood defences provided by our forests. These services have been seen as ‘free’ and their value has not been properly captured in decision-making, but it’s becoming clear that serious risks are associated with biodiversity loss and ecosystem degradation.
To manage these risks, governments need to quantify and value their reliance on biodiversity and ecosystems. We’re beginning that important work now.