Budget and financial reports


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.

Check out the following video to see 'How your city budget works.'

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