Budget 2023/24

The 2023/24 Budget is Regina’s first multi-year budget. The multi-year budgeting approach supports longer-term budget planning to strengthen City programs and advance strategic priorities, which include economic prosperity, community safety & well-being, environmental sustainability, operational excellence, and creating a vibrant community.

On September 21, 2022, a preliminary 2023-24 Budget Development Update was presented to Executive Committee. It included the following components:

1. An explanation of the cost to maintain current City services (status quo).
2. An overview of how new potential investments support the City’s strategic priorities
3. An explanation of 2023-24 Budget risks

• The City of Regina provides more than 60 types of services; property taxes fund more than 50 per cent of these
• To maintain current City services (status quo budget) the City estimates it will require $4.9 million in 2023 (a 1.73 mill rate increase) and an additional $5.4 million in 2024 (1.88 mill rate increase.)
• New potential investments to support the City’s five strategic priorities (totaling $5.5 million over the next two years) such as:
  • Sidewalk rehabilitation
  • Community Safety & Well-being Service System
  • Winter City Strategy
  • Accessible Taxi Service Improvements
  • Community Building Retrofit Grant Program
  • Adapted Recreation Plan
• The City recommends that any new capital investments related to the strategic priorities ($30 million over 2023 and 2024) be paid for through a combination of grants, reserve funding, deferring projects to a later year, and mill rate increases.
• To maintain status quo with Regina’s Utility Budget, fund upgrades at the Buffalo Pound Water Treatment Plant, and implement the water utility rebate program for low-income seniors and people with disabilities, a 4.5 per cent increase is required for 2023, followed by a 4 per cent increase in 2024.