Budget and financial reports

Suburbs

Striking a balance between offering valued community services and programs, making strategic investments in community priorities and keeping property taxes to a reasonable rate are among our top priorities - a level of commitment we share with city council.

Each year, city council approves an annual budget, made up of three parts:

  • Operating budget - funded primarily through property taxes and user fees; used to operate our facilities and provide municipal services and programs to residents.
  • Capital budget - funded through property taxes, city enterprises, development charges, debt and grants; used to either build or rehabilitate assets that will last for more than one year.
  • Reserve funds - used for reasons such as tax stabilization, equipment purchases and sick-leave costs.

The annual budget covers all of the city's operational areas, including fire service, community services and operations, culture, planning and economic development, to name only a few.

Long-Term Financial Plan

The 2020-2029 Long-Term Financial Plan entitled Our City, Our Plan, Our Future highlights the city’s strong financial position. It also identifies emerging challenges and trends that will be important to address as we work to ensure the city can maintain this position over time. The plan provides insight into the city’s financial governance framework, bringing together and highlighting the city’s financial policies and practices.

With a strong reputation for financial stability, Kitchener will strive to be financially Responsible, Flexible and Sustainable. Guided by these principles, the Long-Term Financial Plan will continue to build on the city’s current financial strength and ensure that the city is well positioned both now and in the future to meet the needs of a growing community.

This plan has evolved through dialogue with council over the course of the year. Two Strategic Council Sessions discussed the plan. The full reports presented during those sessions can be found below.

Want to know more about the city’s budget? Our current and previous budgets can be found through the left-hand navigation menu, or watch our video on “How your city budget works” below.

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