Budget 2023-2026: 10 Things to Know
Here are 10 things you need to know about the budget:
Budgets help build a better life for Edmontonians
The budget is the City’s plan for where we will get money (revenues) and how we will spend it (expenditures). It maps out how tax dollars and other funding will be invested to provide the services Edmontonians count on as well as to build and maintain roads, bridges, recreation centres, fire halls, police stations, and other important City facilities.
2. Budgets are built in four-year cycles.
The next cycle runs from 2023-2026. The budget is reviewed and adjusted each year, as needed. The budgeting process is driven by achieving the goals and priorities as voiced by Council and Edmontonians through ConnectEdmonton, extensive public engagement on The City Plan and the Corporate Business Plan.
3. There are four budgets
The budget has two main parts: the operating budget and the capital budget. There are also separate budgets for public utilities: Waste Services and the Blatchford Utility.
4. We MUST balance the budget
The City can’t budget for a deficit or use debt to pay for our operations. It’s the law in Alberta.
5. The average household pays under $8/day for all municipal services
Based on the 2022 assessed housing values and operating budget, the average Edmonton household with an assessed value of approximately $402,000, pays under $8 a day. Imagine life without roads, parks, police and fire services, libraries, summer pools and winter skating, snow clearing and repair crews.
Now imagine your household could buy a pass, for under $8 a day, that would give those things to everyone who lives with you. That pass would also help support recreation facilities and attractions, transit, the City’s local partners in everything from sports to social work, and dozens of other things you rely on. That’s the work that less than $8 a day gets done!
6. We have some of the lowest tax increases in Canada
Over the past 5 years, Edmonton’s average tax increase has been 1.8%. This is lower than the average rate of inflation over that same time period, which is closer to 3%. In 2022, Edmonton’s 1.9% tax increase was among the lowest in Canada, compared to 3.87% in Calgary and 3% in Ottawa.
7. We’re building a lot over the next four years
The next four-year budget has over $4 billion in already approved capital projects, including transformational projects that will expand our LRT network and Yellowhead Trail, as well as two new recreation centres and an expansion at the Valley Zoo.
8. We also have a lot to maintain
The City has over 9.1 million assets, with a total replacement value of over $31.6 billion. Our capital budget carries the cost to maintain:
1,403 lane km of roads/alleys
5,881 km of sidewalks
688 km of trails
94 light rail vehicles
976 buildings
9. We’re always looking for efficiencies
The City has applied a continuous improvement process to find efficiencies in our budgets since 2014. We have made significant budget reductions in recent years to free up dollars for new priorities. Over the last two budget cycles, hundreds of millions of dollars in efficiencies have been used to reallocate to other services or used to keep increases to a minimum. If we want to make further budget reductions in 2023-2026, we will primarily need to look at reducing service levels, cutting services, or increasing user fees and fines.
10. The tax money you pay the City vs. Province vs. Federal Government
For a typical Edmonton household, for each dollar paid in taxes and fees to the government sector, approximately 65 cents is paid to the federal government, 26 cents to the Province, and just under 9 cents to the City.
This time in budget deliberation is incredibly important and I urge all residents to express their opinions on what they would like to see in their next four year budget.
BUDGET DELIBERATIONS
Proposed Capital Budget
Released: October 20, 2022
Budget Presentation at Council: October 31, 2022
Proposed Operating Budget
Released: November 3, 2022
Budget Presentation at Council: November 14, 2022
Proposed Utility Budgets
Blatchford Utility Budget and Rate Filing
Released: November 10, 2022
Budget Presentation at Council: November 25, 2022
Waste Services Utility Budget and Rate Filing
Released: November 10, 2022
Budget Presentation to Council: November 25, 2022
Public Hearings and Budget Deliberations
Register for Non-Statutory Public Hearings: November 17, 2022
Non-Statutory Public Hearings: November 28 and 29, 2022
Budget Deliberations: Start December 1, scheduled until December 16, 2022
