October 20, 2022
The City of Edmonton released the 2023-2026 proposed Capital Budget, which marks the start of the budget process this fall. Totalling $7.75 billion, it is Administration’s proposed plan for advancing construction projects over the next four years and beyond.
The proposed budget took more than a year to develop and involved analysis of the economy and the City’s financial position, careful prioritization of projects, input from City Council and extensive engagement with Edmontonians.
“At Council and during engagement with Edmontonians this spring, we shared that the next four year budget was going to be about tough choices,” said Stacey Padbury, Chief Financial Officer for the City of Edmonton. “Like all Edmontonians, the City is dealing with economic uncertainty and inflation, and this capital proposal responds to these challenges with a focus on what’s most important: renewing existing infrastructure and advancing new projects that are critical to the city’s growth.”
The 2023-2026 Proposed Capital Budget includes $4.4 billion in already approved construction projects, including transformational projects like the Blatchford redevelopment, LRT expansion and the Yellowhead Trail freeway conversion.
The Budget also proposes $3.3 billion in new capital projects, with a focus on renewing existing City infrastructure. Over $2.2 billion is earmarked for strategic spending to help maintain the City’s existing infrastructure over the next four years and beyond. This includes rehabilitating the High Level Bridge and William Hawrelak Park. Administration also recommends that the City begin replacing the City’s original LRT fleet, which is over 40 years old.
“These projects will not only support the economy and the construction sector over the next four years, they’re also how we’ll keep building, sustaining and modernizing the places and spaces that make Edmonton a great place to live now and for generations to come,” said Adam Laughlin, Deputy City Manager of Integrated Infrastructure Services.
The proposed capital budget will be presented to Council on October 31. It is one of four proposed budgets—capital, operating and two utility budgets—that Council will consider this fall. Each of the budgets will be presented to Council over the next several weeks, followed by a public hearing on November 28 and 29. Council will adjust and finalize the budget in December.
Edmontonians can view the City’s proposed Capital Budget and learn more about the budget process by visiting edmonton.ca/Budget
Edmontonians can also register to speak at the non-statutory public hearing on the budget at edmonton.ca/meetings
. Registration will open after the agenda is published on November 17.