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How the budget works

Through a carefully planned budget we deliver valuable services to residents. In Waterloo there are two different budget cycles during a four-year term of city council:

  • in year one, a single-year budget is adopted - 2023 budget adopted on February 13, 2023
  • in years two to four, a three-year budget is adopted - budget for 2024 to 2026 will be adopted on February 12, 2024

Budget priorities are guided by our strategic plan and direct engagement with the community. City departments then write business plans that reflect these priorities and inform the final staff tabled budget that is presented to city council.

Our budget is also guided by the Core Consumer Price Index Policy which states that CPIX acts as a guideline for base and growth tax increases, with service level and infrastructure increases considered above inflation. Staff table a recommendation on our tax increase to council based on our strategic plan, public engagement and current CPIX related policy, which is subject to council's adoption.

City council considers the budget as tabled by staff and adopts the capital and operating budget after public consultation and business plans are presented.

  • A capital budget covers new investments or replace assets such as roads, city facilities, or buying new vehicles that are under the city's control.
  • Operating covers the day-to-day activities such as fuels, insurance, utilities, supplies and salaries. The operating budget also considers the Core Consumer Price Index Policy, as mentioned above.

To learn more about Waterloo's budget watch our video:

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