2022 Capital and Operating Budgets
On January 13, 2022 the Budget Committee began the process of reviewing staff-recommended tax-supported 2022 budgets. The budgets will be reviewed and debated by Budget and Executive Committees before being finalized and approved by City Council on February 17. Review the News Release for more details.
The staff-recommended operating budget is $14.99 billion. The staff-recommended 10-year capital plan is $46.58 billion which includes funding for strategic areas such as mobility, housing, modernization and climate action.
The Budget Committee is made up of Councillors Crawford (Chair), Carroll, Lai, Layton, McKelvie and Nunziata.
Visit 2022 City Budget to access Learn the Basics, How to Get Involved and Budget notes, Reports & Presentations information.
The Budget Committee heard presentations on the 2022 Capital Operating Budgets on January 24 and 25, 2022.
FoNTRA’s submission addressed of strategic risks and opportunities related to:
- the importance of good planning
- the critical role of planning studies
- neighbourhood intensification initiatives need to be done carefully
- additional revenues which align with Official Plan Objectives.
Specific budgetary program recommendations included:
- City Council provide funds for maintaining and expanding Planning Studies
- EHON initiatives be carefully implemented with comprehensive plans and resources
- Increase budgets for enforcement staff to address outstanding MLS issues, current illegal rooming houses/ramp up staff in anticipation of more MTHs, anticipated staff needed for inclusionary zoning, landscaped open space, noise infractions, etc.
- Ensure that “contribution to city building” is a key consideration for revenue tools
- Consider implementing a stormwater charge
- Consider increasing the vacancy tax
- Consider increasing the premium on land transfer tax
- Consider implementing a Vehicle Registration Tax