Show Me the Money: 2022 City of Toronto Budget Analysis

As this year’s budget process has come to a close, Sussex is taking a deeper look at the implications of the City of Toronto’s approved 2022 operating and capital budgets. From an ever-evolving COVID-19 response to ongoing uncertainties in downstream funding, the Municipal Practice is dedicated to helping you navigate the challenges to come.

Totalling $14.99 Billion, the approved tax-supported operating budget:

• Allocates $1.96 billion to rate-supported operating budgets, approved by City Council in December 2021.
• Represents an overall average budgetary increase of 2.11%.‍
• Depends on $1.4 billion in relief funding from the other levels of government.

Totalling $46.61 Billion, the approved tax-supported 10-year capital budget and plan:

• Allocates $16.05 billion for rate-supported capital budgets, approved by City Council in December 2021.
• Dedicates funding for climate action investments as well as for transportation, housing, and modernization.
• Invests $15.5 billion in components to support greenhouse gas reduction and improve climate resilience.

With these headlines in mind, let’s break down this year’s budget a little further, starting with identified major themes:

Read our analysis here.