The average household would see a $14 total annual cost increase next year. We know that the City of Toronto is under immense financial pressure because of COVID-19, so I encourage you to start thinking about what kind of City you want to see come out of this pandemic. Toronto City Council will then consider the budgets for final approval at its meeting on December 16. Learn more about the 2018 City budget. As a result of the financial pressure caused by the pandemic, Toronto will face a $1.5 billion shortfall in its 2021 budget, according to a new report released by Toronto City Manager Chris Murray. The City of Toronto, consistent with other large Canadian … The City has been working to find ways to reduce costs and mitigate rate increases, while preserving services and capital projects. Learn how the City budget is approved and about the difference between the operating, capital and rate-supported budgets. The city will also implement a series of cost mitigation strategies, including matching transit service capacity to demand and prioritizing critical, essential, and priority services. In the fall, Toronto will begin its budget planning process for 2021. The recommended budget consists of: an operating budget of $362.0 million, plus a capital reserve contribution of $17.1 million; a capital budget of $69.1 million; and a 10-year capital plan of $737.5 million. The recommended budget consists of: a gross operating expenditure budget of $95.7 million and $93.5 million in gross revenue for on-street parking, off-street parking and the Bike Share program; a capital budget of $24.3 million; and a 10-year capital plan of $234.4 million. The council must critically asses the services that need to be delivered while dealing with depleted resources and increased need. Get involved – we want to hear from you! The budget also ensures the continued implementation of the Long Term Waste Management Strategy, which supports waste reduction, reuse and the move towards a circular economy. The recommended budget consists of: an operating budget of $1.4 billion including a capital reserve contribution of $946.5 million; a 2021 capital budget of $1.3 billion – the largest in Toronto Water’s history – that invests in the construction of new assets and the renewal of existing infrastructure; and a 10-year capital plan of $14.8 billion. On February 12, Toronto City Council approved a 2018 tax-supported operating budget of $11.12 billion and a 10-year capital budget and plan of $25.98 billion. As the fourth largest city in North America, Toronto is a global leader in technology, finance, film, music, culture and innovation, and consistently places at the top of international rankings due to investments championed by its government, residents and businesses. Council Approved Budget 2020 Budget Public Book Tax and Rate Supported 2020 Operating Budget and 2020-2029 Capital Budget and Plan Presentation to City Council Budget Summaries for City Programs & Agencies 2017 Budget “The pandemic has created a new reality that has resulted in the need to make the City’s priorities clearer and focused where key investments are necessary,” says Murray. The recommended 2021 operating and capital budgets for the Toronto Parking Authority (TPA) ensure the continued availability of 19,000 on-street and more than 40,700 off-street parking spaces across 307 locations throughout the city. “We must protect lives and livelihoods and we must invest to meet Toronto’s needs.”, City Manager’s Report, Towards Recovery and Building a Renewed Toronto, to go to Executive Committee October 21, Read the full news release: https://t.co/RmnpZsQZCn pic.twitter.com/zyjEr8Fkfm, — City of Toronto (@cityoftoronto) October 14, 2020. The City of Toronto has three rate-supported programs funded through user fees: Toronto Water, Solid Waste Management Services and the Toronto Parking Authority. Toronto City Council will not be cutting the 2021 police budget by 10%, but did vote in favour of some reforms that could change policing in the city, such as making police wear body cameras at a cost of $50 million over 10 years. Your voice matters. More information on how to get involved is available online. “We need to evaluate which services we deliver and how we deliver them.”. It determines the level of service provided to Toronto residents and guides decisions on what City infrastructure will be purchased, built and repaired. “To recover effectively, we will need to address structural challenges such as these, while simultaneously funding the services that will be critical to public health, economic growth, and improving equity,” says Murray.

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