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Annual budget update
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The City’s 2026 Annual Budget update has now been adopted as amended. On Monday, December 1, Mayor Morgan indicated that he would not veto Council’s amendments.
Agendas, minutes and playback, including budget amendments from Budget Committee (November 20, 2025) and Council (November 26, 2025) can be found on the Council and Committee Meetings webpage.
What is an Annual Budget Update? Why is it necessary?
What is an annual budget update to the multi-year budget?
An important element of the Multi-Year Budget is the annual budget update process. It is required under the Municipal Act, 2001.
The City must readopt the budget that year, and each subsequent year, for which the multi-year budget applies.
Annual budget updates provides the City the opportunity to change the budget for special circumstances that require funding and resource adjustments. This can be done by one of three types of budget amendments:
New or Changed Regulation: A new or changed legislation or regulation with a financial impact to the municipality
New Council Direction: A new Council direction that has transpired after the approval of the multi-year budget
Cost or Revenue Driver: A corporate or service area budget shortfall as a result of changes in economic conditions
Last modified:Thursday, February 19, 2026