Every year, the provincial government releases general and financial statistics for local governments in BC. This year, many of the statistics were released signficiant later than normal. The 2024 data has now been fully posted, which is the latest year available. Over the next little bit, I’ll be sharing some financial statistics for municipalities in Metro Vancouver, highlighting where Langley City stands.
Today, I wanted to share some long-term debt statistics. Local governments can use long-term debt for infrastructure, and most do, though there is a limit on the amount of debt they can take on. The following table shows the total debt used, total debt authorizied, and the debt ceiling for municipalities in Metro Vancouver in 2024. The debt ceiling is based on the maximum annual principal and interest payments a local government may not exceed, known as the “Liability Servicing Limit.”
| Municipalities | Total Debt Issued | Total Authorized Debt | Liability Servicing Limit | Liability Servicing Capacity Available | Percent of Servicing Limit |
|---|---|---|---|---|---|
| Burnaby | 0 | 0 | 177,393,128 | 177,393,128 | 0.0% |
| Delta | 0 | 0 | 82,783,033 | 82,783,033 | 0.0% |
| West Vancouver | 24,505,023 | 24,505,023 | 57,536,831 | 55,499,404 | 3.5% |
| Langley City | 21,653,047 | 21,653,047 | 19,906,014 | 19,096,643 | 4.1% |
| Surrey | 295,608,000 | 295,608,000 | 306,465,013 | 285,087,961 | 7.0% |
| Richmond | 89,113,339 | 89,113,339 | 165,165,193 | 152,689,932 | 7.6% |
| White Rock | 19,631,379 | 19,631,379 | 17,301,835 | 15,943,335 | 7.9% |
| Port Moody | 22,468,218 | 22,468,218 | 24,187,398 | 22,207,963 | 8.2% |
| District of North Vancouver | 43,212,589 | 71,012,589 | 71,322,552 | 65,114,987 | 8.7% |
| Coquitlam | 9,938,000 | 99,938,000 | 101,811,250 | 91,870,250 | 9.8% |
| Pitt Meadows | 22,179,362 | 22,179,362 | 14,325,348 | 12,544,678 | 12.4% |
| Anmore | 2,436,997 | 2,436,997 | 1,482,232 | 1,295,993 | 12.6% |
| Port Coquitlam | 87,841,404 | 87,841,404 | 35,851,443 | 31,283,516 | 12.7% |
| Maple Ridge | 34,467,441 | 62,342,441 | 54,704,541 | 45,582,841 | 16.7% |
| New Westminster | 158,211,877 | 158,211,877 | 73,735,070 | 59,481,378 | 19.3% |
| Lions Bay | 1,461,149 | 1,461,149 | 1,212,137 | 955,719 | 21.2% |
| Vancouver | 1,027,970,000 | 1,301,995,000 | 636,181,645 | 459,647,582 | 27.7% |
| Township of Langley | 317,305,000 | 417,379,847 | 94,880,500 | 67,329,681 | 29.0% |
| City of North Vancouver | 872,552 | 164,700,000 | 40,665,687 | 25,739,150 | 36.7% |
| Belcarra | 2,813,955 | 2,813,955 | 673,811 | 404,248 | 40.0% |
| Bowen Island | 12,088,448 | 17,863,978 | 3,604,125 | 2,136,898 | 40.7% |