Annual budget update

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2023 Annual Budget Update - Timelines and key dates

This fall, the 2023 Annual Budget Update process will begin.

Budget Timetable:

Tabling of the General Property Tax & Water/Wastewater & Treatment Budgets December 6, 2022, 4 p.m. at Strategic Priorities and Policy Committee 

Budget Public Participation Meeting January 17, 2023, 4 p.m. at Strategic Priorities and Policy Committee

Property Tax & Water/Wastewater & Treatment Budget Review January 26, 2023, 9:30 a.m. at Strategic Priorities and Policy Committee January 27, 2023, 9:30 a.m. (if needed) at Strategic Priorities and Policy Committee

Subscribe to follow the budget update process and be notified of opportunities to get involved.

 

Previous Annual Budget Updates

2022 Approved Annual Budget Update
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cover of 2022 Annual Budget Update

The 2022 Annual Budget Update was approved by Council on December 21, 2021.

2021 Approved Annual Budget Update

The City's first Annual Budget Update to the 2020 to 2023 Multi-Year Budget was approved by Municipal Council on January 12, 2021. A combined Executive Summary of this annual update is provided in the following document:

2021 Executive Summary – Approved Property Tax, Water Rate, Wastewater Rate Supported Budgets

Below you will also find the detailed approved Annual Budget Update documents for the property tax, water rate, and wastewater rate supported budgets.

2021 Approved Property Tax Supported Annual Budget Update

2021 Approved Water and Wastewater and Treatment Annual Budget Update 

2021 Tabling Presentation

View the 2021 Annual Budget Update tabling presentation that was given on November 17, 2020 at the Strategic Priorities and Policies committee.

If you have any questions or concerns, please reach out to the team at budget@london.ca.

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.

  • Council must readopt the budget that year, and each subsequent year, for which the multi-year budget applies.

Annual budget updates provide Council 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

The annual update process starts in fall with the aim of being completed prior to the start of the upcoming year.  For example, the annual update process that starts in 2021 is the 2022 Annual Budget Update and covers the 2022 and 2023 years remaining in the current Multi-Year Budget period.

Last modified:Friday, July 15, 2022