Town Council approved the 2018 Budget on December 18, 2017. Visit our 2018 Budget page for details.
Our vision is to be the most livable town in Canada. In order to achieve that goal, the Town of Oakville is charged with the responsibility of managing and investing the tax dollars you pay to meet the needs of our growing community.
Oakville is committed to striking a healthy balance between offering valued services and programs to residents, making strategic investments in community priorities, and keeping the overall tax increase in line with inflation.
Oakville’s annual budget captures all of the town’s operational areas including fire services, economic development, recreation and culture, parks and open space, engineering and construction, and planning and development to name a few. Each year, Oakville Council approves an annual budget, made up of three parts:
- The operating budget provides the necessary resources to deliver programs, services and facilities services to meet the needs of Oakville’s growing community, and accommodates for inflationary pressures. The operating budget is funded primarily through property taxes and user fees.
- The capital budget and forecast is a comprehensive, 10-year financial plan that identifies the capital requirements of growth and maintaining existing infrastructure. The capital budget is funded through property taxes, town reserves, development charges, debt and grants. The capital budget is used to either build or rehabilitate assets that will last for more than one year.
- Reserves and reserve funds receive annual contributions from the operating budget to assist with creating a solid financial position to support the town’s future cash requirements. Maintaining sufficient balances in reserves and reserve funds is a critical component of a municipality’s long-term financial plan as it strengthens its long-term financial sustainability, helps to minimize fluctuations in the tax rate and provides funding to sustain infrastructure.