Waterloo city council approves 2019 budget

Today, Waterloo city council approved the 2019 operating and capital budget. A nine-year capital forecast for 2020 to 2028 was also approved in principle, providing a 10-year blueprint to facilitate long-term planning, prudent financial management and to provide appropriate management of the city’s $1.1 billion of capital assets. 

To help deliver the important day-to-day services residents have come to expect along with key city initiatives to support sustainability and growth in the community, council approved a tax increase of 2.2 per cent for 2019. For a Waterloo resident with a home assessed at $383,930, he/she will pay $1,306 for city property taxes. This represents a total increase to an average household of $28.11 compared to 2018. 

The city’s operating budget supports many important services and projects throughout the city 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. The capital budget covers building new assets and rebuilding assets as time goes on. Things such as roads, sewers and city facilities are among the assets that are considered capital projects. 

“Over the years, we have kept our tax rate increases competitive with other area municipalities by finding efficiencies such as reorganizing how we work, energy conservation measures and a stringent budget process that requires us to scrutinize expenses and revenues,” said Councillor Jeff Henry, chair of the finance and strategic planning committee. “I’m pleased to see that council has approved a budget that is below the province’s rate of inflation. This was no easy task as the city’s expenses are subject to inflationary pressures in the same way as all other organizations.” 

On Jan. 21, 2019, council approved city utility rates (for water, wastewater collection and stormwater) to be effective Feb. 1, 2019. The financial impact of the rates to the average household is 2.4 per cent for the city’s portion, which works out to an additional $23.65 per year.  The Region of Waterloo is responsible for treating, disinfecting and supplying drinking water and their rate increase for 2019 was approved by Regional council and has an impact of 2.0 per cent which is an additional $20.79 per year for the average household. 

The total 2019 capital budget for the city is $105 million. Key areas of investment for 2019 include:

• Waterloo Memorial Recreation Complex addition and repurposing ($24.5 million of a $26.7 million total project)
• Road reconstruction and paving ($15.8 million)
• East side library ($3.7 million of a $8.3 million total project)
• Consolidating emergency dispatch ($3.0 million)
• Re-purposing of the Carnegie Library ($3.0 million)
• Northdale parkland and public space redevelopment ($1.9 million)
• Design of new splash pads ($400,000)

Additional information about the 2019 budget can be found at waterloo.ca/budget.