The children's farmyard at Stanley Park has been a Vancouver institution for generations, but its days may be numbered.

Same with the Bloedel Conservatory at Queen Elizabeth Park.

Both are on the chopping block because the Vancouver Park Board needs to find $3 million to cut from its budget.

"This is unprecedented. I think everyone is just sort of shell-shocked," said park board member Aaron Jasper.

Rising costs and the shaky economy mean people who use parks and recreation will also have to pay more in fees.

Admission to swimming pools and fitness classes are set to go up by about four percent.

And community centre hours will likely be cut.

The situation at city hall is even worse.

Tuesday afternoon, city council got an update on efforts to make up for a $60 million shortfall.

Cost savings and other measures have managed to cut Vancouver's budget shortfall in half.

But the remaining half will likely result in job cuts, service reductions and a tax increase - likely a two-percent tax hike.

The park board will make its budget decisions tonight.

The city's budget will be finalized by mid-December.

With a report from CTV British Columbia's Stephen Smart