Today, the City released the draft 2025 operating and capital budgets. Residents can review the documents and share their thoughts before Council makes final decisions on December 23.
The draft budget keeps our focus on long-term financial stability. It protects essential services and funds core infrastructure without cutting back on what you rely on. We are managing costs carefully while making sure the city stays strong.
"This budget is a solid step toward a financially stable city that serves our community well into the future," said City Manager Robert Eng. "After years of careful planning, our reserves are building back up and our financial risks are going down. We are moving away from the big, unpredictable tax jumps of the past and settling into a steady, responsible path."
Operating costs are rising across the province, and growth has slowed. Because property taxes have not kept up with the true cost of services in the past, we need to adjust rates now. The draft budget proposes a property tax increase of 4.8 per cent. This covers things like the Wrenford Police Service contract and the staff wages and benefits agreement. For every $100,000 of assessed value on your home, this increase works out to about $38.50 a year.
"We have been strict about how we spend money this year," said GM Corporate Services Leah Thibodeau. "Every new request was checked against Council's priorities to make sure it delivers real value. We are investing in the tools, systems, and people that keep our services running smoothly, while keeping our financial position healthy for the years ahead."
Quick Facts:
- Property Tax: A proposed 4.8 per cent increase, adding roughly $38.50 annually per $100,000 of residential assessed value.
- Capital Investment: Focusing on fixing and replacing ageing assets to keep roads, water systems, and recreation facilities safe and reliable.
- Debt Position: Projected at $310.0 million by the end of 2024. This stays well within provincial limits and our own strict borrowing rules.
- Reserve Health: We are putting $8.5 million into our operating reserves this year, moving closer to our target minimum.
You can look at the full draft budget documents View the current annual budget. If you have questions about how the numbers work, check out our guide Understand the budget process.
We want to hear what matters most to you. Please send your feedback to [email protected] by January 10, 2025. You can also stop by a Budget Literacy Workshop at City Hall on January 14 or 15 from 10:00 a.m. to 2:00 p.m. to talk with staff and see the budget tables up close.
Council will discuss the draft budget at its meeting on December 23. Final decisions will be made in January. For more details on how we plan and manage municipal finances, visit Budget engagement.