Planning for The City’s 2026 budget is underway with a focus on supporting long-term financial health while navigating current economic pressures and planning for the future.
Today, Administration outlined this year’s budget approach that outlines key dates and strategies for both tax supported and utility budgets. Building on the success of last year, the 2026 Utility Budget will be approved in advance of the utility and capital budgets; it will be approved by the current Council on September 2 to ensure utility rates are in place before the new fiscal year begins. The Tax Supported Operating and Capital Budgets will be brought forward for consideration in December 2025.
“Budget 2025 marked an important step in strengthening our financial position by closing the operating deficit through increased revenues and service level adjustments,” said Mike Olesen, General Manager of Growth & Finance. “As we look ahead to Budget 2026, our focus remains on protecting reserves, managing inflationary impacts, and maintaining core services in a balanced and thoughtful way.”
This year will see a continued focus on core services, minimizing tax rate increases where possible, and avoiding reliance on reserves. Capital planning will prioritize the maintenance of existing infrastructure over new amenities, ensuring a sustainable approach during a period of financial transition. Public engagement will continue, with a focus on educating residents about the City’s financial health and aligning resources to community priorities.
“While some level of tax increase are still recommended in 2026 to maintain our financial health, we expect these would be in line with historical average increases,” said Olesen. Our focus is on protecting reserves, maintaining essential services, and covering non-discretionary costs like contractual obligations. Any recommended rate changes will be carefully considered once we have a full picture of our financial commitments, growth estimates, and Council’s direction on service levels.”
Council will consider the Tax Supported Operating and Capital Budget December 15-19, 2025.
Councillor Doerksen introduced a motion outlining further amendments to the budget strategy and approach. The motion was postponed to May 20 to allow for further time for review by Council and administration.