MENU
01
Home
02
Services
03
Sectors
04
Insights
05
News
06
Team
07
Careers
08
Contact
Services
01
Government Relations
02
Communications & Digital
03
Advisory Services
Sectors
01
Energy
02
Environment
03
Health Care
Updates
01
Insights
02
News
HomeServicesSectorsTeamInsights
insights
updates
February 11, 2021

2021 City of Toronto Budget Update: Hold the Line

written by

Municipal Team

2021 City of Toronto Budget Update: Hold the Line

As everyone continues to grapple with the ongoing pandemic, municipalities across Canada are faced with an additional challenge during this year’s budget deliberations of ensuring adequate funding is available for continued COVID-related support in addition to regular programs, services, and capital projects.

In the City of Toronto, the 2021 Budget process is underway, and this year differs remarkably from previous years. For starters, the entire process – from the Budget Launch to public consultations – is being held virtually, in order to comply with the current Public Health regulations, and as a result saw a noticeable increase in participation amongst the public. It will be interesting to see whether this virtual approach will continue post-pandemic, considering the high levels of engagement.

Further, this year differs as staff have had to pivot from “business as usual” to remain COVID-responsive in this pandemic-era budget, indicative that much of 2021 will be challenging and that it is still early days before government can fully turn its attention towards recovery and rebuild.

For context, Toronto City Council unanimously approved a 2020 tax and rate combined Operating Budget of $13.5 billion, and a total 10-Year Capital Plan of $43.4 billion on February 19, 2020 – and before the impacts of the COVID-19 pandemic were known. Subsequently, numerous in-year adjustments to the approved 2020 Budget were required to accommodate the estimated average weekly financial impact to the City of $65 million, as a result of both added costs required to manage the emergency, as well as a significant loss in revenues such as transit fares, municipal land transfer tax and various other charges and fees. By year’s end, this amounted to a $1.7 billion gap. The Safe Restart Agreement provided critical and welcome relief to municipalities across the country facing financial budgetary pressures, who cannot carry forward deficits.

Onwards to 2021 – A new year, new budget, and new financial pressures.

Read the full update from our Municipal Team

No items found.
share article
Link copied
‍

recent posts

Ford Government Shuffle: What You Need to Know
September 23, 2023

Ford Government Shuffle: What You Need to Know

This afternoon Premier Doug Ford announced another shuffle to his Cabinet. These changes come only three weeks after a shuffle earlier in September that was prompted by the resignation of then Minister of Municipal Affairs and Housing, Steve Clark. This afternoon’s Cabinet shuffle was more unexpected, prompted by the abrupt resignation on Thursday of Khaleed Rasheed, Minister of Public and Business Service Delivery, amid scrutiny of a Vegas trip with developers linked to the Greenbelt controversy.

Prime Minister Announces Changes to Parliamentary Secretaries
September 18, 2023

Prime Minister Announces Changes to Parliamentary Secretaries

On Friday, Prime Minister Justin Trudeau announced the new complement of Parliamentary Secretaries. Parliamentary Secretaries are chosen by the Prime Minister to work with Ministers. Their responsibilities vary but generally fall into two categories: House of Commons business and department-related duties.

Ontario Government Cabinet Shuffle: What You Need to Know
September 5, 2023

Ontario Government Cabinet Shuffle: What You Need to Know

Yesterday, Premier Doug Ford announced a minor but significant shuffle to his Cabinet. These changes come just over a year since the Progressive Conservative’s re-election last June and amid a controversy regarding political interference around the swapping of land in and out of the Greenbelt.

view all
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
company
HomeTeamCareersContactTerms & Policies
explore
ServicesSectorsInsightsNews
follow us
ALL RIGHTS RESERVED © 2020