Regional councillors get a preview of the 2024 budget, with a 7.6% tax raise projected
CBC
Regional councillors got a preview of the 2024 budget at a Strategic Planning and Budget Committee Wednesday afternoon.
The presentation was just for information with no budget decisions made. A preliminary budget will be tabled on Oct. 18. The base budget for 2024 sits at $506 million with taxes projected to rise by 7.6 per cent.
The budget base excludes the police budget as well as funding for the region's plan to end chronic homelessness. The region's plan to end chronic homelessness is still under development and will be brought to a Community and Health Services Committee on Nov. 7. Further discussion on the plan is expected at a Strategic Planning and Budget Committee on Nov.8
In June, regional council passed a motion asking staff to develop a 2024 budget that would see a six per cent tax increase.
A report presented to councillors on June 6 during a committee meeting said the budget would need to see a 10 per cent tax increase to maintain current levels of service.
"Staff are working really hard to bring the budget numbers down to where we need to be, we're doing that at the police board as well, recognizing that there's only one taxpayer and these are tough times for individuals, but we also need the services," regional chair Karen Redman told The Morning Edition Wednesday morning when asked whether she was concerned a funding shortfall could occur.
"I am very confident that we will have the best effort possible by our professional staff, but at the end of the day, it will always be a council decision."
Last year was described in the presentation as being a tough year with high inflation, the rising costs of borrowing, and capital costs growing as well. There were also high fuel prices, a housing crisis, and a growing homelessness population.
Next year is expected to be similar, with the community still driving demand for services.
On Wednesday morning, Redman said she expected there will be a lot of scrutiny during budget discussions and talks about policy and amounts in the region's reserves.
"Those are working funds that we draw on when provincial funding doesn't come through in a timely manner, but we still have to continue providing child care and social services," Redman said.
"A lot of those services are co-funded between the regional tax base as well as the province."
The region will hold public input meeting on the budget on Oct. 18, Nov. 1 and Nov. 29. Final budget day is set for Dec.13.
Waterloo Regional Police Service (WRPS) will also be holding public input meeting during discussions for its 2024 budget.
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