Budget & Finances

Each year, Wetaskiwin City Council approves a budget for the upcoming year. The City operates on a one-year budget cycle, ensuring it can remain fully operational and continue delivering services to residents. The budget has two parts: the operating budget, which funds basic operations that keep the City running, and the capital budget, which primarily funds infrastructure such as roads and City facilities.

The budget process is guided by both community feedback and the goals set out in Council's Strategic Plan and 50-Year Community Vision.  

Administration drafts the next year's budget for Council's approval throughout the year, based on Council's guidance for levels of service and projects they would like to see. Administration develops operating business cases and capital charters for service adjustments and infrastructure and maintenance projects for Council's consideration during budget deliberations. After budget deliberations, Administration brings the budget back to Council during a regular Council meeting with any updates and/or adjustments discussed during deliberations for final approval.  

If the approved budget requires a change to the tax rate, the Tax Rate Bylaw, used to set municipal tax rates for calculating annual property taxes, is presented to Council early in the following year for approval.  

At the end of the fiscal year, external auditors audit financial statements prepared by the City. These statements are reviewed by Council and then made available to the public, ensuring financial transparency in how City funds were used.