Council will hold its first special meeting this week as it begins to deal with large funding gaps anticipated in 2024 and 2025. yxe yxecc
A report to a special meeting of council’s governance and priorities committee this week identifies 11 of the largest contributors to the city’s impending budget crunch, accounting for $27 million of the $52 million shortfall in 2024 alone.
City staff recommend a package of deferrals and delays on these items, noting they don’t see any other way to get the 2024 property tax increase under 10 per cent without putting off the costs. While these moves would have the effect of lowering property tax hits in the immediate future, they will potentially add pressure to future budgets, when operating costs for deferred items land all at once.
Further reports looking at individual city business lines include more recommendations for containing costs and finding revenue. These include a 10 per cent hike in pet licensing fees, a three per cent rise in cemetery fees and the deferral of hiring a communications consultant and an asset manager for the city’s fire department.leading into deliberations for the 2024 and 2025 two-year budget.
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