The City of Owen Sound has implemented a multi-year budget planning process with a five-year outlook on Capital projects. This road map, built with the guidance of Council and with their Strategic Priorities in mind, provides a longer-term outlook on Capital spending.
Benefits of multi-year capital planning include:
• Alignment of longer-term goals and objectives with funding plans.
• Greater certainty for residents about the future direction of taxes.
• Improved accountability and transparency of the long-term spending plan.
• Flexible allocation of resources over time.
• Improved resource planning for more complex, multi-year Capital projects.
• More efficient use of time and resources as the organization is not in ‘perpetual budget mode'.
• Ability to tender projects earlier and receive more favourable pricing.
Budget and Finance
Key Insights into Navigating the 2024 City of Owen Sound Operating Budget:
Each year, City Council considers community priorities, Strategic Priorities, expected service levels, and legislated responsibilities as it sets the operating and capital budgets for the City of Owen Sound.
Operating budgets cover the City's daily services and programs. The Operating Budget is reviewed and updated annually. Operating costs include materials and supplies, wages and wage-related costs, contract payments, debt payments and transfers to reserves to fund future capital.
The 2024 tax levy Operating Budget totals $34.9 million.
Capital dollars are spent on the City's assets and infrastructure. While regular repairs and maintenance are budgeted for under operating, the capital budget plans for major rehabilitation, replacement and new capital assets. Capital project examples include bridge replacements, building refurbishments or upgrades, or new equipment.
The 2024-2028 Capital Plan includes $90.7 million in funded Capital Projects.
View the City's 2024-2028 Multi-Year Capital Plan Budget in Brief
Appendix A - Full List of 2024 Projects
"Budget" refers to funds that are specifically collected from the property tax base. The tax levy is dedicated funds that increase by one percent each year, and the 'budget' is tied to this amount. The budgeted tax levy funding source is finite and cannot be changed without Council approval.
"Capital Plan" includes the tax levy (budget) amount, as well as additional funding sources such as grants, external funding, water and wastewater rates, user fees, etc. The non-tax levy portion of the Capital Plan has bit more flexibility on how and where it is allocated between projects and between years.
- 2022 Budget Book (Capital & Operating)
- 2021 Budget Book (Capital & Operating)
- 2020 Budget (Capital and Operating)
- 2019 Budget (Capital and Operating)
- 2018 Budget (Capital, Operating)
- 2017 Budget (Capital, Operating)
- 2016 Budget (Tally Sheet, Final Operating Budget)
- 2015 Budget
- 2014 Budget
- 2013 Budget
- 2012 Budget
For certain projects, the City of Owen Sound benefits from Infrastructure Canada's federal gas tax funds.
Contact Us
808 2nd Avenue East,
Owen Sound, ON
N4K 2H4
Phone: 519-376-1440
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