Budget and Finance
2027 Budget
The process to review and approve Kawartha Lakes 2027 Budget will begin at the December 15, 2026 Council Meeting, after the municipal election is complete and the new Council is sworn in.
Mayor's 2026 Budget
2026 Budget Schedule
| Date | Action |
|---|---|
| June 17, 10am to 12pm | Budget Committee Meeting Agenda Budget kick-off presentation Watch the meeting on You Tube |
| August 26, 2025, 1pm |
Long-Term Financial PlanWatch the Long-Term Financial Plan Update Presentation to Council Press Release: Kawartha Lakes outlines 10-year financial plan Purpose of the Plan The Long-Term Financial Plan is not a final decision, but a guideline to help us prepare for the next decade. While no one can predict exactly what we’ll face in 5 or 10 years, we need to plan ahead and adjust as circumstances change. This long-term approach helped the City stay resilient during the pandemic, and it positions us to manage new challenges such as rising costs, economic pressures, and more frequent weather emergencies. The April 2025 ice storm, as an example, could impact tax increases into the double digits, if there were not government grants and/or reserves to help offset the costs. The Plan does not replace the annual budget process, nor does it account for decisions made by the Mayor or Council under Strong Mayor legislation, or for grants and funding that we may receive from other levels of government. Each year, the budget is carefully reviewed and adjusted to reflect the current realities and circumstances facing our community. Building Reserves A key goal is to strengthen reserves so we can fund future capital projects ourselves and rely less on debt or uncertain government funding. This makes the municipality more resilient and protects core services. Impact of Grants Grants are not included in forecasts until confirmed, so current estimates are conservative. For example, when the Emily/Omemee Community Centre received a $1 million grant, it reduced the tax impact in that year. Larger capital grants, when approved, can have even greater impacts. Impact of Growth We’ve assumed growth of about 500 new homes per year until 2031. This ensures we plan for required infrastructure, but forecasts are updated annually. If growth slows, projects may be deferred, easing tax pressure in those years. Rising Costs Residents are feeling the impacts of rising costs. For municipalities, the impact is even greater because we purchase materials like steel, lumber, and asphalt, which rise faster than consumer goods. While the Consumer Price Index (CPI) shows prices up about 1.7% in the past year, the Non-Residential Building Construction Price Index (NRBCPI), a better measure for municipal costs, rose by 4%, more than double the consumer rate. Impact on Taxpayers The impact any year’s budget has on taxpayers is always at the forefront. For context, in 2025, the 6.2% increase on the average assessed home value of $267,000 was about $175 annually. Affordability Mayor and Council are mindful of the financial pressures households face. As we move into the 2026 Budget process, the Budget Committee will carefully weigh spending requests against community needs, always seeking a balance between fiscal responsibility and the services our growing community requires. |
| August 26, 2025 |
Long-Term Capital Project Forecast Projects from 2026 to 2030 |
| September 10, 2025 |
Mayoral Decision 04-2025 Advanced Approval to 2026 Budget Items |
| September 16, 10am to 12pm |
Budget Committee Meeting - Budget overview |
| September 18, 10am to 3:30pm |
Budget Committee Meeting - Department Presentations Agenda Corporate Services Departmental Presentation |
| September 25, 10am to 12:30pm | |
| September 29, 1pm to 4pm |
Budget Committee Meeting - Agencies, Boards and Committees Agenda Library Departmental Presentation Development Services Departmental Presentation |
| September 30, 1pm to 4pm (if needed) |
Budget Committee Meeting - Department Presentations Agenda Paramedic Services Departmental Presentation Human Services Departmental Presentation |
| October 6, 9am to 4pm |
Budget Committee Meeting Agenda Mayoral Memo to Budget Committee Kawartha Lakes Police Services Budget Presentation Otonobee Conservation Presentation Proposed Special Projects Budget |
| October 8, 9am to 12pm | Budget Committee Deliberations |
| October 9, 9am to 12pm | Budget Committee Deliberations |
| November 12, 7pm |
Public Budget Meeting - information on the Proposed Budget, delegations and correspondence can be submitted by members of the public. Learn how. |
| November 25, 10am | Presentation of the Mayor's Budget to Council for deliberation. Kawartha Lakes Council adopts the 2026 Budget centered on strategic priorities |
| November 26, 1pm (if needed) | Presentation of the Mayor's Budget to Council for deliberation. |
| December 1, 2025 at 4:30pm | Mayor review and override period after Council deliberates the Budget. When the defined period has lapsed, Budget is adopted. |
| By December 31, 2025 | Budget and Business Plan posted on website. |
Long-Term Financial Plan Update
Regular Council Meeting, August 23, 2026
Long Term Financial Plan Update Report by Sara Beukeboom, Director of Corporate Services
Dr. Adam Found, Chief Financial Officer
Appendix A - Planning Parameters and Assumptions
Appendix B - Tax-Supported Operating Forecast Summary
Appendix C - Tax-Supported State-of-Good-Repair Capital Financing Summary
Recommendations:
- That Report CORP2026-031, Long Term Financial Plan Update, be received;
- That the Long-Term Financial Plan be updated from 2022 to 2026 and substantially in accordance with the inputs contained in Appendices A-C to Report CORP2026-031;
- That the direction set out by Appendices A-C to Report CORP2026-031 supersede all prior direction provided to staff by Council for long-term financial planning;
- That the 2026 Long-Term Financial Plan for the 2026-2035 planning horizon be prepared and posted to the City’s website by August 31, 2026; and
- That the maximum debt service ratio be increased from 10% to 12.5%.
The above report was received and the recommendations adopted by Council.
Debt Policy and Reserve Fund Policies
On June 23, 2026, Council adopted two new financial policies that will help guide how the City manages debt, reserves and reserve funds. The new policies replace the City's previous Financial Management Policy and are part of an ongoing effort to modernize financial practices, improve transparency and align with commitments made in the Long-Term Financial Plan. The policies provide clear guidance on when debt should be used, how reserve funds should be managed, and how the City plans for future expenses and infrastructure investments.
The Debt Policy recognizes debt as a tool to help fund growth and major state-of- good-repair capital projects and long-lived assets while maintaining financial stability. The Reserve and Reserve Fund Policy outlines how savings and reserve funds are used to manage planned and unexpected costs, stabilize taxes and user fees, and support long-term financial sustainability. Together, the policies establish best practices and clear targets to help ensure the City remains financially responsible while planning for future community needs.
Appendix B - Reserve and Reserve Fund Policy
Appendix C - Financial Management Policy
Read the full report, or watch Council’s discussion.
2025 Mayor's Budget
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Join the Conversation
Visit the Jump In, Kawartha Lakes engagement platform to learn more about the budget process. Watch the video series, learn about what costs are fixed, variable and discretionary, as Council aims to deliver an affordable budget that provides the services our community values.
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Have a question or need assistance? Email us at inquiries@kawarthalakes.ca — we’re here to help.
