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Budget 2016 to 2018

2018 Operating Budget Update - approved Nov. 20, 2017

In February 2016, Council approved a three year operating and capital budget that covered the years 2016-2018. The City of Waterloo approved its first multi-year budget in 2008 and continues to be one of the front runners in Ontario in this regard. 

The Multiple Year Budget Approval Policy (FC-011) is a Council approved Policy which provides parameters and flexibility for addressing material changes should they arise between budget cycles.  This policy states that a change in assessment growth greater than a 1 per cent equivalent tax increase would result in amendments to the budget.

Due to strategic policy, planning and decision making by City of Waterloo Council over the past several years, there has been continued growth and intensification within the City borders, influencing the increased and accelerated assessment growth being realized in 2017. The City's growth of 3.74 per cent is the highest in Waterloo Region in 2017.  

The increased growth has resulted in additional revenue of $1.8 million for the 2018 budget and prompted a strategic review of the previously approved 2018 operating budget on Feb. 8, 2016. 

On Nov. 20, 2017 the following amendments to the previously approved 2018 operating budget were approved, through report CORP2017-089: 

  • resetting the previously approved tax increase to 2.1 per cent from 2.4 per cent
  • increased contributions to capital reserves
  • Funding the impacts of minimum wage legislation
  • allocating funding towards the future operating costs of the East Side Library
  • updating labour/operations and external contractual obligations
  • addressing the funding gap in the Waterloo Wellington Local Health Integration Network (WWLHIN) program

Further details of budget changes approved on Nov. 20, 2017, can be accessed here:

The City of Waterloo is fortunate to be experiencing this level of growth and as a result is able to address the 2018 financial impacts of proposed minimum wage legislation, a significant cost which much like other cities, would otherwise likely need to be addressed as a tax increase, user fee increase, or service reductions. 

While this accelerated growth is providing the city with flexibility to address a number of significant pressures in 2018, the growth rate is not expected to be maintained at this level indefinitely. 

2017 - 2018 Capital Budget - approved Dec. 11, 2017

Highlights from the 2016 - 2018 capital budget

  • $52 million for 159 routine capital projects
  • $140 million for 67 non-routine projects was approved in principle and will return to council through a follow-up report for funding approval
  • Significant investment is budgeted in rehabilitation and maintenance projects for infrastructure including, road reconstruction, stormwater rehabilitation, uptown community improvement plan implementation, park expansion
  • 2019-2026 capital forecast of $330 million was approved in principle 

2018 water rates - approved Dec. 11, 2017

  • Click here for the 2018 Water Services Utility Rates presentation
  • 2018 total increase of 4.52 per cent (2.21 per cent increase from the Region of Waterloo plus 2.31 per cent increase from the City of Waterloo)

 


 

Previously approved 2016-2018 Budget - Feb. 8, 2016

On Feb. 8, 2016, Waterloo city council approved the 2016 to 2018 operating and capital budgets and the 2019 to 2024 capital forecast. The property tax increase for 2016 is 2.2 per cent, 2017 is 2.3 per cent and 2018 is 2.4 per cent. This equates to an increase for an average Waterloo household of approximately $27 in 2016, $29 in 2017 and $31 in 2018.

To learn more about the city's budget process and where residents' tax dollars go, watch our short video below.

Highlights from the 2016 - 2018 operating budget

This  budget includes efficiencies of $850,000 and supports many important services and projects including snow removal, sewer maintenance, fire protection, bylaw enforcement, road maintenance and repairs, parks, recreation, culture and leisure services and youth and older adult programming. Specific items approved in the three-year budget include LED street lighting energy savings, additional winter maintenance for city-owned trails and the advancement of funds to the Waterloo Public Library.

Highlights from the 2016 - 2018 capital budget

  • $57 million for 193 routine capital projects
  •  $70 million for 77 high interest projects was approved in principle and will return to council through a follow-up report for funding approval
  • Significant investment was also being made in rehabilitation and maintenance projects for infrastructure including, road construction, stormwater rehabilitation,uptown community improvement plan implementation, park expansion
  • 2019-2025 capital forecast of $273 million was approved in principle

Combined water, sewer and stormwater rate increase including monthly service charge:

  • 2016 - 5.01 per cent (2.40 per cent increase from the Region of Waterloo plus 2.61 per cent increase from the City of Waterloo)
  • 2017 - 5.66 per cent (2.04 per cent increase from the Region of Waterloo plus 3.62 per cent increase from the City of Waterloo)
  • 2018 - 4.52 per cent (2.21 per cent increase from the Region of Waterloo plus 2.31 per cent increase from the City of Waterloo)

More information