Budget 2022

The City Council adopts annual budget, Five-Year Financial Plan and the Tax Rate Bylaw before May 15 each year.
The City budget and financial plan reflects Council’s commitment to the long-term financial stability of the City and to the improvement of City infrastructure in a strategic and fiscally responsible manner.


The City budgeted $46.9 million in revenues. The City is funding its operations by property taxes, service fees and charges.

In 2022 the municipal tax rate for residential property class was reduced by 10%, tax rates for all the other property classes and the utility rates remained unchanged from 2021. Even after tax rate reduction, the City's revenues would be benefiting from the adjustments caused by the property valuation assessment changes. 

The City also plans to rely on grants from other governments and reserves to supplement capital investment projects. 


The 2021 expenditure budget totals $46.9 million, including $25.6 million in operating expenditures for essential services to City residents, such as public works and utility services, police, bylaw and fire protection services, transportation services, like local transit and airport, recreational and cultural services, development services to assist businesses. 
The City budgeted $0.8 million of debt servicing costs and is committed to continued debt reduction.   

Capital Investments

The City budgeted $18.9 million of capital investment, reflecting the Council’s commitment to the maintaining and improvement of the City streets and infrastructure. 

In 2022 the capital budget includes $9.0 million of capital investments in general fund projects, for such purposes as pavement rehabilitation (4th and 5th Avenues, Gibbon and Barnard Streets to be rehabilitated), equipment purchases, facilities upgrades, etc.
The investment plan also includes $6.1 million in sewer system projects, including significant cost of River Valley recovery projects, $1.7 million in water system projects and $1.8 million in airport projects. A list of capital projects is attached to this release.

2022 Budget Documents