Budgets and Financials

Each year, a variety of budgetary decisions need to be made to balance the needs within the City of Woodstock. These choices are made with an eye towards the long-term sustainability of the municipality’s services and infrastructure, while also evaluating the short-term needs of our residents and industry.

The City of Woodstock’s budget is divided into two segments: Capital Budget and Revenue Fund (or Operating) Budget.

The Capital budget funds the purchase and rehabilitation or upgrades to large city-owned assets including buildings, land and roads, as well as the purchase of equipment such as vehicles and machinery. The Revenue (or Operating) Budget provides the funds needed to operate our city facilities and operations on an ongoing basis and includes all expenses that are not capital expenditures and the procurement of equipment that is not significant enough to be considered a capital asset.

2025 Budget

Staff has begun preparing the 2025 budget for consideration by Council during the budget meetings listed below. Staff will present a draft budget that reflects the investments required to maintain the existing infrastructure and recommendations for new funding needed to support a growing community. Detailed information, including the draft budget and staff presentations will be added to this page as they become available. 

To help guide their recommendations, staff considers the City's Asset Management Plan (AMP). The AMP is a strategic document that helps staff manage the City's infrastructure and other assets so that we're able to meet our service level expectations and make appropriate and fiscally responsible decisions.  

2024 Budget

On March 21, Council approved the 2024 Revenue Budget, setting in place funding needed to continue delivering valued programs and services to our growing city.

The City tax levy for the 2024 Revenue fund Budget is $75,695,160 which is a 9.25 per cent increase over 2023. This results in a residential property tax rate increase of 7.42 per cent, meaning the average home in Woodstock will see an increase of $207.16 for the City portion of their property taxes. 

Past Budgets

2023 Budget

2022 Budget

2021 Budget

Financial Statements and Previous Budgets

City of Woodstock Financial Statements can be found on our Financial Statements page. If you are interested in viewing previous Capital Forecasts and Operating Budgets, please contact the Treasurer's office.