THUNDER BAY – This could be the end of late-night city council sessions in February every year, which shape the annual operating and capital budget in Thunder Bay.
City officials confirmed that they have approval in the 2024 budget to purchase software to move to multi-year budgeting, but it has not been obtained at this juncture.
City treasurer Keri Greaves said following Monday’s council meeting that the municipal act does allow for a term of up to five years for budgeting and that there are several municipalities that have looked at and implemented the practice.
“The biggest advantage would be that you can line things up with your strategic plan, which is a four-year term,” Greaves added.
“Council will have the option to go with a two-year term or a four-year plan that spans the first year of the new council.
“The first budget for a new councillor can be overwhelming, being asked to approve a half billion-dollar budget right away. This change would allow new councillors to get acclimatized to the position and make more effective decisions.”
Greaves discussed the next steps, which would need to go council for approval.
“Later this year, we should be able to get a vendor in place and obtain the software, with council’s approval,” Greaves noted.
"At that time, council can decide what course of action they would like to take beginning in 2026/2027.”
Greaves stressed it would be too much work to implement the venture right away.
He also noted that the multi-year budget is subject to an annual review.
