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City's 2019 Preliminary Financial Forecast Shared With Budget Committee

Jun 13, 2018

At today’s Budget Committee, City of Mississauga staff presented a preliminary forecast for the proposed 2019 Budget and the 2019 - 2022 Business Plan. The budget is the City’s plan for spending taxpayer dollars to deliver programs and services and to advance the City’s Strategic Plan. The business plan is the City’s longer-range estimate of future spending.
 
The forecast featured an overview of priority items likely to be included in the final budget, which will be considered later this year and into 2019. These numbers will change over the coming months, as they have in past years, pending the outcome of discussions with Council at Budget Committee and any decisions made by the new provincial government.
 
“The budget process allows us to develop a strong financial plan that makes investments in our City’s future, while delivering high-quality services such as transit, road maintenance, library service, and so much more that Mississauga residents have come to expect and rely upon,” said Bonnie Crombie, Mayor of Mississauga. “Residents overwhelmingly tell us they believe they receive good value for their tax dollars, which is why we consistently strive for excellence and to find ways to save money. As always, in the coming months we will continue to engage with residents, businesses and community partners to develop a strong financial blueprint for Mississauga for 2019 and beyond.” 
 
The City’s operating budget includes a combination of costs for ongoing services such as public transit, parks, roads and building maintenance, snow clearing, recreation programs, libraries and much more along with expected future costs and forecasted revenues for the next year. 
 
For 2019, staff’s preliminary forecast is an estimated increase of 4.1 per cent for inflation and new services to the City’s Operating Budget, plus a 2 per cent infrastructure levy, which is a financial strategy to ensure that roads, bridges, buildings and parks are well maintained and modernized and that the City has funds available for future City building. Further work will be done over the next few months to refine the budget and make efforts to reduce the projected increase.
 
The forecast also assumes a 1.3 per cent increase for additional services: 
  • 15,000 more MiWay service hours 
  • Staffing for the new Fire Station 120 at Hurontario St. and Eglinton Av. 
  • Enhanced security service and transit enforcement
The estimated impact of the forecasted increase on the residential property tax bill would be 2.1 per cent and 1.3 per cent on the commercial bill. 
 
“More than ever, we are challenged by the increased costs to deliver our services. In particular, we are facing higher fuel costs, new legislation and unexpected costs downloaded to us by the Government of Ontario,” said Janice Baker, City Manager and Chief Administrative Officer. “The costs to maintain and build our city cannot be covered by the property tax alone. The proposed infrastructure levy enables us to maintain a state of good repair and build for the future. We know there is work to be done, and over the coming months we will work to identify opportunities to reduce the pressure on the operating budget before presenting it to the Budget Committee in December.” 
 
Budget Committee meetings resume on December 5 (Budget Overview and Fees and Charges) and continue on January 14, 15, 21, 22 and 28. The 2019 - 2022 Business Plan and 2019 Budget are expected to be approved by Council on February 6, 2019.
 
Budget Committee meeting dates are subject to change.
 
For more information on the City’s budget and how your tax dollars are spent visit mississauga.ca/budget
 
 
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Media contact:
Cynthia Ulba                                                    
Senior Communications Advisor
City of Mississauga                                                   
905-615-3200, ext. 5051                                         
TTY: 905-896-5151
 
 





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