City of Vancouver trims its financial department as part of 2026 budget

Vancouver city hall is seen on Tuesday, Feb. 17, 2026. (CTV News)

The City of Vancouver has made changes to two of its financial teams, resulting in job losses.

In a statement, the city said its Long-Term Financial Strategy (LTFS) team has been combined with the Financial Planning and Analysis team.

“We cannot provide specific staff details, but can confirm that there have been exempt staff departures related to the budget from Finance and Supply Chain,” the city said, adding it “is streamlining services across these areas.”

“The Financial Planning and Analysis function will continue to provide financial planning and long-term financial strategy business support,” the city added.

According to the city, the LTFS team supported the organization with capital planning, real estate portfolio optimization, tax policy and senior-government funding.

The city said it’s continuing to work through organizational and operational changes that reflect council priorities, service delivery needs and workforce transitions.

“As part of this process, some departments are undergoing adjustments that include changes to staffing levels,” the statement added. “These staffing changes are part of the city’s broader efforts to balance the 2026 budget through a combination of efficiencies and service adjustments, and new revenues.”

The changes stem from Mayor Ken Sim and his ABC party’s successful “Zero Means Zero” property tax freeze.

Sim said the decision was rooted in affordability, but it has resulted in cuts to various departments across the city.

The city is expecting to reduce around 400 full-time equivalent positions.

Two-thirds of those are union positions.