Budget 2024

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Help shape the City’s 2024 Budget

We are developing our annual budget and 5-year Financial Plan and want to hear from you. Your feedback will help us keep the community’s priorities top of mind as we take care of today’s needs and plan for tomorrow.

About the annual budget and Financial Plan

Each year, the City develops a balanced budget that governs how much it needs to spend to provide services for that year and how much revenue it will need to fund those services. The annual budget is part of the City’s 5-year Financial Plan that forecasts future budgeting to ensure accountability and service delivery to taxpayers. The plan considers external economic opportunities and pressures and the long-term vision for the City, balanced with the need to provide the essential services that residents rely on every day.

The Financial Plan is guided by Council’s Strategic Plan, which outlines the vision and four-year direction of Council and informs the work of the organization.

There are three main categories of the Financial Plan:

Operating Budget: Ensures the dependable delivery of essential services and programs, including public safety, transportation and transit, recreation and culture, and more.
Capital Budget: An investment plan for maintaining, improving and building essential infrastructure, including the new Harry Jerome Community Recreation Centre, roads and sidewalks, parks and trails, and more.
Utilities Budget: Ensures effective and sustainable delivery of water, sewer services and waste collection.

Draft 2024 Budget in Brief

These are challenging financial times, including for local governments. Ongoing economic realities like inflation and supply chain issues make it difficult to develop a budget that balances fiscal prudence and the need to maintain City service levels while continuing to invest in community infrastructure.

The draft 2024 budget includes a base budget of $395.2 million. The three main categories of this budget are:

Operating budget of $101.7 million
Capital budget of $144.0 million
Utilities budget of $48.7 million

The draft budget projects an 8.5 per cent increase in taxes on the average home in the City in 2024. This increase is largely due to external factors driving up the cost of everything from labour to goods and services purchased by the municipality.

Learn more in our 2024 Budget in Brief info sheet.