October 29, 2024 — The draft 2025 City Budget is now available for review online, with a Council Budget Deliberation Meeting scheduled for Nov. 26, 2024.
The staff-prepared draft budget includes crucial capital investments totalling $56.8 million into infrastructure and assets such as roads, sewers, arenas and parks, while balancing affordability for taxpayers.
During development of the budget, staff examined any potential mitigating measures to offset budgetary increases resulting from inflationary pressures. Measures to offset a potential tax increase included deferring transfers to reserves and utilizing contingency reserves. Staff also reviewed deferring new staff positions and some capital projects. These efforts reduced a potential 7.31 per cent increase to the City portion of property taxes down to the 4.91 per cent increase proposed in the current draft budget. The proposed 2025 Operating Budget is $183.8 million.
The draft budget was prepared by staff and posted today in accordance with Mayoral Direction as outlined in the Municipal Act.
Budget Process Timeline
Posting of the budget initiates timelines for its review and approval.
Release of the draft budget initiates a 30-day period during which Council members can pass resolutions to amend the proposed budget document. Council will have the opportunity to consider any potential amendments during the Nov. 26 Budget Deliberation Meeting, which will take place at 9 a.m.
A Public Input and Grant Session will be held during the Nov. 18 Council Meeting. Both the Nov. 18 and 26 meetings are scheduled to be held by electronic means.
When the amendment period expires, a 10-day period initiates, during which the Mayor can veto any Council amendments. Any veto can be overridden by a two-thirds vote of Council.
Draft Budget Documents
The Draft 2025 Budget can be accessed online at www.sarnia.ca/Budget.