A capital budget is how the City plans and pays for major, long-term investments—like roads, bridges, buildings, parks, and equipment.
Multi-Year Capital Budget & Planning
Our multi-year capital plan is a roadmap—helping us invest in today’s needs while preparing for the future.
The City of Owen Sound takes a long-term approach with the Capital Budget in planning how your tax dollars are invested in our community. Through a multi-year capital planning process, the City looks ahead five years when planning major capital projects—like roads, facilities, and infrastructure.
Guided by Council’s Strategic Priorities, this approach helps ensure investments are thoughtful, transparent, and aligned with what matters most to residents, while supporting a strong and sustainable future for Owen Sound.
Pillars of Capital Budget Planning
| Council's Strategic Priorities | Calculated Project Prioritization | Staff Time and Resources |
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.
Frequently Asked Questions
What is the difference between a capital plan and a capital budget?
"Capital 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. The 2026
Capital Tax Levy is XXXX
"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 more flexibility on how and where it is allocated between projects and between years.
How is the capital budget different from the operating budget?
The capital budget funds big, long-lasting projects, while the operating budget covers everyday core services like waste management, routine maintenance, and staffing.
What is a multi-year capital budget?
It’s a plan that looks ahead several years (at the City of Owen Sound it is 5 years) to forecast and prioritise major projects over time, rather than deciding everything year by year.
Why does the City plan capital projects over multiple years?
Planning ahead helps the City align projects with community priorities, manage costs, and ensure infrastructure is maintained and upgraded responsibly.
Are all projects in the plan guaranteed to happen?
No. Projects in future years are planned priorities, but timing, scope, and cost may change as projects are refined and conditions evolve.
What does Council approve when they adopt a multi-year plan?
Council fully approves projects for the current year, while future projects are approved as planned priorities and reviewed again before moving forward.
Why do projects move between years?
Project timing can change due to funding availability, construction costs, coordination with other work, or unexpected infrastructure issues.
How are capital projects paid for?
Funding can come from property taxes, grants, and reserves.
Will capital projects affect my taxes?
They can. Multi-year planning helps smooth out costs and provides more predictability about future tax impacts.
What are “funded” vs. “unfunded” projects?
Funded projects have confirmed financing, while unfunded projects are identified needs that require future funding decisions.
How can I see what projects are planned?
The City publishes its capital plan annually and updates it regularly, often as part of budget documents.
How often is the capital plan updated?
The plan is reviewed and updated at least annually—and often more frequently—to reflect changing conditions and new information.
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