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Background on the City's Budget |
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Visit the following links for background information on how money is collected, budgeted, and used to deliver services to you.
The City's Budget - What does it cost to run the City?
Where does the money come from for the Operating Budget
Where does the money go?
How your tax dollars work for you
The City's Capital Budget
Where does the money come from for the Capital Budget?
Where does the money go?
The City's Budget - What does it cost to run the City?
In 2003 we've calculated the cost to deliver services to you to be $8.2 billion. The City's budget is divided into an: Operating Budget - the cost to deliver the day to day services to you such as garbage collection, etc.; and the other is the Capital Budget - the cost to keep our city assets, such as our roads, community centres, in good repair and invest in growth.
The total City Gross budget including Operating and Capital is $10 billion. Operating is $7.0 billion in expenditures, and Capital is $1.2 billion in expenditures. The City's own gross budget is $8 billion. If you count Toronto Hydro (subsidiary of the City of Toronto) it adds $2 billion.
Everyday the City runs on a budget equivalent to more than $25 million.
Where does the money come from for the 2003 Operating Budget?
Of the $7.0 billion in operating costs:
- 41% is from Property Taxes
- 22% is from Provincial Grants
- 15% is from other user fees
- 15% is from other sources
- 7% is from water charges user fees
Where does the money go in the 2003 Operating Budget?
Of all the money collected,
- 34% goes to provincially mandated services
- 27% goes to Special Purpose Bodies
- 24% goes to directly controlled City services such as garbage, fire, parks, solid waste, water, and culture
- 15% goes to financing and other
How your tax dollars work for you
Top services that your tax dollars pay for include (in descending order of cost):
- Police Services
- Shelter, Housing, & Support
- Emergency Fire services
- Debt charges
- Social Services
- the Toronto Transit Commission
- Transportation
View the complete ranking.
Note: Debt charges is the 4th biggest item.
The City's Capital Budget
In 2003 the City's Capital Budget was $965 million, to maintain the City's assets in the state of good repair, meet legislated and safety/health requirements, and meet the needs for service improvements and growth. Some of these include the City's roads, infrastructure, and facilities in your community.
Where does the money come from for the Capital Budget?
Of the $965 million in the 2003 capital budget:
- 34% is from outside sources - such as the Federal and Provincial governments
- 28% is from debt
- 13% is from Operating Contribution
- 12% is from reserves
- 11% is from internal sources
- 2% is from Development Charges
Where does the money go for the 2003 Capital Budget?
Most of the Capital funds are used to maintain the City's assets such as your roads, bridges, water and sewer pipes, reservoirs, etc. This is to ensure that the City preserves them before they deteriorate and cost more to repair.
- 71% of the Capital Budget goes to maintaining City assets in a "State of Good Repair"
- 12% goes to growth
- 8% goes to legislated costs
- 7% goes to service improvement and enhancement
- 2% goes to health and safety
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