TAMRMS#: B06
8.2
REQUEST FOR DECISION
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2026 Municipal and Utility Budget
Presented by: Suzanne Findlay, Manager, Financial Services, Financial & Strategic Services
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RECOMMENDED MOTION(S)
recommendation
1. That the 2026 Consolidated Municipal and Utility Budget in the amount of $355,343,300 with a Net Tax Requirement of $151,869,600 provided as attachment titled “2026 Approved Consolidated Municipal & Utility Budget” be approved.
2. That the 2026 10 Year Municipal Growth Capital Plan provided as attachment titled “10 Year Municipal Growth Capital Plan” be approved.
3. That the 2026 10 Year Utility Growth Capital Plan provided as attachment titled “10 Year Utility Growth Capital Plan” be approved.
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SUMMARY
This report presents the 2026 Municipal and Utility budgets, as recommended by Committee of the Whole, for Council’s review and approval.
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
On June 3, 2025, Council passed the following motions:
PM-26-005- That the 2026 Municipal Capital Budget of 27 projects be funded in the amount of $37,978,100.
PM-25-006 - That the 2026 Utility Capital Budget of 9 projects be funded in the amount of $18,449,100.
On December 1, 2025 Council approved the following motion:
AR-25-469 - That Administration prepare the 2026 proposed Municipal and Utility Operating Budgets, the proposed Municipal & Utility Capital Budgets and any associated bylaws, in accordance with the direction provided in the November/December Committee of the Whole deliberations and previous Repair, Maintenance & Replacement (RMR) decisions and Fees & Charges decisions, all for consideration by Council on December 16, 2025.
BACKGROUND AND DISCUSSION
Each year, Council approves a budget to provide required resources to deliver its programs and services to the community and a capital budget to provide required resources to maintain existing infrastructure and to support future capital initiatives.
The 2026 Consolidated budget of $355,343,300 includes:
• 27 Municipal RMR Capital projects in the amount of $37,978,100.
• 11 Municipal Growth Capital projects in the amount of $8,928,000.
• 13 Operating Business cases in the amount of $2,016,900 funded from Assessment Growth, 4 Business cases in the amount of $860,000 funded from the Stabilization reserve, and an increase in the transfer to the Library funded from the base as presented in the attachment titled “2026 Municipal Business Cases”.
• Municipal operating budget in the amount of $229,980,600.
• 9 Utility RMR Capital projects in the amount of $18,449,100.
• Utility operating budget in the amount of $60,007,500.
This results in a municipal net tax requirement of $151,869,600 which equates to an average property tax increase of 3.9%. The Utility budget results in blended utility bill increase of 7.0%.
Administration will report back to Council in Q2 2026 with any required budget adjustments due to new information or emerging issues prior to the finalization of the tax rate bylaw.
STAKEHOLDER COMMUNICATIONS OR ENGAGEMENT
An online 2026 Proposed Budget Survey was held from November 4 to November 14 with input from 51 respondents.
IMPACTS OF RECOMMENDATION(S)
Financial:
Approval of the 2026 Consolidated Budget will result in net tax requirement of $151,869,600 and a 7.0% increase in the average residential utility bill.
Approval of the 2026 Consolidated Capital Budget will result in $65,355,200 million of planned projects.
Compliance & Legal:
The Municipal Government Act provides that Council must adopt an operating budget and capital budget for each calendar year by January 1 of that calendar year (ss. 242 and 245).
Program or Service:
None at this time.
Organizational:
None at this time.
Risks
None at this time.
ALIGNMENT TO PRIORITIES IN COUNCIL’S STRATEGIC PLAN
None at this time.
ALIGNMENT TO LEVELS OF SERVICE DELIVERY
Financial Planning
Stewardship of development of annual operating and capital budgets for Municipal and Utility operations.
The approved operating and capital budgets shall serve as the financial plan for the City and provide Administration with the direction and resources necessary to accomplish Council’s strategic direction and Council approved services and service levels in accordance with the Services and Service Levels Inventory
IMPACTS OF ALTERNATIVES CONSIDERED
N/A
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Report Date: December 16, 2025
Author(s): Suzanne Findlay
Department: Financial & Strategic Services
Department Director: Anne Victoor
Managing Director: Diane McMordie
Chief Administrative Officer: William Fletcher