City of Waterloo council summary February 5, 2024

** The council summary below provides a snapshot of the major items presented at Monday’s council meeting. The council meeting webcast is available on the City of Waterloo YouTube page. Please refer to the minutes for an official record of the meeting.

Council reviews proposed capital budget

As part of its budget process, staff presented “routine” and “non-routine” capital projects for 2024-2026, and reviewed the 2027-2033 capital forecast. Council did not approve the capital budget today, but reviewed, discussed and approved the classification listings for capital projects. Following approval of the capital budget on budget day, routine capital projects may begin right away, while non-routine projects must still return to Council for specific approval and funding release before they begin. Council had the opportunity to discuss individual projects, ask questions of staff, and make project classification changes in advance of budget day on February 12, 2024.

The criteria for classifying projects as non-routine include:

•      financial materiality (projects greater than $5 million in the three year budget);
•      high public/Council interest; and/or;
•      request by Council.

Capital projects that do not fall under one of these criteria are considered routine projects.

Mayor McCabe shares recommendations for Ontario’s 2024 Budget

Mayor McCabe shared her 2024 provincial pre-budget submission, outlining the City of Waterloo’s recommendations for Ontario’s 2024 Budget:

• New fiscal funding arrangement for municipalities.
• Flexibility for housing pledges and the Building Faster Fund.
• Increased fund support for post-secondary institutions.
• Round two of the Streamline Development Approval Fund.
• Ongoing commitment to climate adaptation and mitigation.
• Increased provincial funding commitments to meet the AODA standards.

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Media contact:
Cari Van Niekerk
Director, Corporate Communications
cari.vanniekerk@waterloo.ca