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StaffReport` <br />Financia! Services Department www.0chener. ca <br />REPORT TO: Finance and Corporate Services Committee <br />DATE OF MEETING: December 13, 2021 <br />SUBMITTED BY: Ryan Hagey, Director of Financial Planning, 519-741-2200 ext. 7353 <br />PREPARED BY: Ryan Hagey, Director of Financial Planning, 519-741-2200 ext. 7353 <br />WARD(S) INVOLVED: All <br />DATE OF REPORT: December 7, 2021 <br />REPORT NO.: FIN -2021-62 <br />SUBJECT: 2022 Final Budget <br />RECOMMENDATION: <br />For discussion. <br />REPORT HIGHLIGHTS: <br />• Detailed reports/presentations related to the Operating and Capital budgets have <br />already been reviewed by Council in dedicated meetings. <br />• All utility rates (gas, water, sewer and storm) as well as user fees have already been <br />approved by Council. <br />• The proposed tax rate increase of 1.9% represents a $21 impact to the average <br />homeowner. <br />• The final budget package provides supplemental information which will ultimately result <br />in an approved budget and property tax levy for all City services <br />BACKGROUND: <br />The budget is the City of Kitchener's annual financial plan, and is the primary basis of <br />financial decision making. The budget process includes stand alone meetings to discuss <br />the operating and capital budgets, as well as opportunities for public input. All of this <br />culminates in budgets being struck as part of the final budget discussion and approval. This <br />process allows Council to prioritize the programs and services delivered by the City and sets <br />direction for the work to be completed this year as well as future years referenced in the <br />budget forecast. <br />This final budget day report and supporting information is purposely short. Detailed reports <br />and presentations on the Operating and Capital budgets were already considered and <br />discussed by Committee in November. As well, all utility rates (gas, water, sewer and storm) <br />as well as user fees have already been approved by Council. <br />*** This information is available in accessible formats upon request. *** <br />Please call 519-741-2345 or TTY 1-866-969-9994 for assistance. <br />Page 3 of 117 <br />