The City is in a Strong Financial Position

The City of Mississauga began its annual Budget process today as the Budget Committee was presented with a preliminary outlook of the 2016 Business Plan and City Budget.

“The City is in a strong financial position with a solid foundation to move us into the future,” said Gary Kent, Commissioner of Corporate Services and Chief Financial Officer. “Our success is due to our low debt levels paired with strategies that have allowed us to maintain the City’s fiscal health and sustainability. Having a strong financial position ensures that residents receive value for their tax dollars.”

Budget Committee Meeting Outline

• Overview of the City’s Projected Costs to Deliver Services
  Finance staff presented the 2016 Budget outlook and process, outlining the timelines for Budget Committee meetings and highlighting public engagement activities.
• Long-Range Financial Plan
  BMA Consulting Inc. presented a financial condition assessment and the City’s framework of a new long-range financial plan.

Budget Public Engagement

All Budget Committee meetings will have dedicated time for residents, businesses, special interest groups and taxpayers to provide input in the budget process. Residents have the opportunity to participate in the budget progress by:

• attending the budget meetings or watch them live via the City’s website
• reviewing committee agendas
• emailing questions and comments to budget@mississauga.ca
• following the City on Twitter and Facebook
• submitting comments directly to Budget Committee through public question period 
• following discussions via Mayor/Councillor news updates
• trying the Budget Allocator tool

Background

The City secures its financial future and demonstrates financial leadership through a number of ways, including:

• Corporate & Business Planning
• Multi-year Budgets
• Program/Operational Reviews
• Sound Financial Policies
• Ongoing Budget Monitoring (Variance Reporting)
• Long Range Financial Plan

The Budget Committee is a Standing Committee of Council established to deliberate on the Budget, which includes both the Capital and Current Financial Program for the City of Mississauga. Budget Committee consists of all members of Council and is chaired by the Mayor.