Budget 2025-2026

* This is a growing page. Continue to check back throughout the budget process and follow along on our social media channels to learn how we build the municipal budget.

As we move through the process of developing, presenting and approving the 2025-2026 City budget, we are considering both Council's strategic priorities and the financial realities that both our organization and community are facing. We consider:

Our current financial state
Current priorities
Future priorities
External pressures

City Council has committed to six dedicated Committee of the Whole meetings on the topic of budget alone in 2024 to gain full understanding of our financial outlook, both now and into the future. Our budget is a balancing act – reflecting our commitment to ensuring the sustained prosperity and well-being of our community while ensuring fiscal capacity and flexibility to address the challenges and opportunities that lie ahead.

Budget Theme

Therefore, this budget process is guided by the overarching theme of balancing the needs of today with the requirements of tomorrow. What do we need to do today to prepare for tomorrow to maintain our advantages that we enjoy today?

Budget Background and Planning Process

Budgeting in a municipality explores the unique aspects shaping the City’s budget such as the need to operate indefinitely and, by law, municipalities cannot run a deficit.

How the City’s budget is structured breaks down the City’s four distinct business units (municipal, land development and real estate, rate-based utilities, and energy production), and operating and capital budget structures.

Underpinning the budget planning process for 2025-26 are five budget commitments.

On April 23, 2024, City Council began the budget process with a budget planning session. This meeting focused on aligning understanding of the key budget assumptions that will guide the rest of the budget process going forward. Watch the video here | Read the presentation

Growth Capital Budget Deliberations

On June 25, 2024, City Council met and discussed new growth opportunities. New growth opportunities are options presented to Council that improve quality of life if we were to invest in new services, programs, operational initiatives, and capital projects in the upcoming 2025-26 budget cycle. Watch the video here | Read the presentation
On July 9, 2024, City Council met again to gain clarity about new growth opportunities. Watch the video here | Read the presentation

Operating and Sustaining Capital Deliberations

On October 22, 2024, City Council met and discussed Rate-Based Utilities including water, sewer, solid waste (garbage/recycling), and electric and natural gas distribution. Watch the video here | Read the presentation
On October 30, 2024, City Council met and discussed the Energy Production budgets. Energy production covers both electrical generation (power plant, etc.) and gas production (gas wells and abandonment/reclamation obligations). Watch the meeting | Read the presentation
On November 5, 2024, City Council met and discuss the proposed Municipal Budget. Watch the meeting | Read the presentation
On November 13, 2024, City Council met and discuss the proposed Land Budget and Economic Development Budget, and will finish with a conclusion of the consolidated budgets together. Attend in person (Council Chambers at 3:45 p.m.) or by live stream. Watch the meeting | Read the presentation

Rate Setting and Final Stages

On November 18, 2024, Council heard the first reading of the Rate Bylaw. The Rate Bylaw sets utility rates, which are part of setting the budget projections. Watch the meeting | Read the presentation
On December 2, 2024, Council will meet and deliberate Budget Approval. Attend in person (Council Chambers at 6:30 p.m.) or by live stream.
On December 16, 2024, Council will host a Public Hearing of the Rate Bylaw as well as second and third reading of the Rate Bylaw.