Title
PRESENTATION CONCERNING THE 2025 BUDGET AND BUSINESS PLAN
Mayor Nuttall provided a presentation regarding the 2025 Budget and Business Plan.
Mayor Nuttall discussed slides concerning:
• Overall percentage increase to the City’s Operating Budget;
• Investing in Infrastructure and Capital Projects;
• Overview of the Mayor’s Budget including acknowledgement of City Staff and the City’s AA+ S&P Global Ratings
Craig Gillespie, Senior Manager of Corporate Finance and Investment provided a presentation regarding the 2025 Budget and Business plan.
Mr. Gillespie discussed slides concerning the following topics:
• Proposed budget and fiscal impacts;
• Key features of the budget;
• 2025 proposed tax rate impact;
• Operating summary, budget approvals and user rate budgets;
• Capital Plan objectives and overview of what is in the plan;
• Capital summary and capital budget approvals;
• Long-range financial planning;
• City planning for growth and Capital Plan;
• Total reserves and total reserves broken down by funding source;
• Overview of debt and future progress towards financial sustainability; and
• Next steps for the budget and business plan.
Members of Committee asked a number of questions and received responses.