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Operating budget—Revenues and expenses
2021 budget impacts
$1,833,285 or 1.0% net increase in budget in 2021 due to:
- Increase of $2,568,285 for the continuation of the tax supported Infrastructure Renewal Strategy, which is a 1 per cent annual increase to incrementally bring capital funding to sustainable targets by 2037 and reduce the infrastructure backlog.
- $1,500,000 increase for Council-approved City Building Capital Reserve Fund transfer to fund the new Central Library funded from reduced transfer to Redevelopment Incentive Reserve.
Capital financing for Contaminated Sites and 100RE was shifted to the Sustaining our Future priority.
Overall increase appears as $166,618 due to shifting capital financing for Contaminated Sites and 100RE to the Sustaining our Future priority.
2022 to 2024 budget impacts
- Annual increases to support the tax supported Infrastructure Renewal Strategy and Council-approved City Building Strategy for the new central library.