For Immediate Release / December 21, 2021
Council Approves 2022 Budget
At the December 20 Council meeting, the City’s Financial Plan and 2022 Budget was approved, following the City’s budget deliberation process. This includes the 2022 municipal and utility operating and capital budgets. The City has worked hard to continue to exercise fiscal responsibility and minimize the financial impacts to our community, but we cannot continue to do things as we have in the past and remain sustainable at the same time.
The Financial Plan and 2022 Budget includes 2.8 per cent tax increase and an average utility rate increase of 4.5 per cent. Opportunities for public input were held online and through virtual engagements throughout November 2021. The budget highlights are as follows:
Municipal Budget – The approved net municipal tax requirement of $117.4 million results in a 2.8 per cent property tax increase. For an average house valued at $450,000, this means an increase of $105 from the prior year.
For 2022, the municipal capital plan investment includes:
- 29 municipal capital projects to repair, maintain or replace existing infrastructure, valued at $23.4 million; and,
- 16 municipal growth capital projects valued at $40.1 million.
Utility Budget – Utility rates in 2022 were approved to be 4.5 per cent higher than in 2021, with a typical monthly utility bill of $139.01.
For 2022, the utility capital plan investment includes:
- 10 utility capital projects to repair, maintain or replace existing infrastructure, valued at $16.6 million.
“Administration presented Council with sound budget options for our consideration,” says Mayor Cathy Heron. “In November, we heard from residents through engagement opportunities. This information lead to meaningful debate on how to best determine the 2022 budget. I believe that Council has struck a balance between continuing to deliver key services and being fiscally responsible.”
For more information on the approved financial plan and 2022 budget, as well as the full approved budget document (to be added in 2022), visit the City’s 2022 Budget page.
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Last edited: December 21, 2021