An Overview of Iqaluit’s Budget Process

Public Service Announcement
An Overview of Iqaluit’s Budget Process
August 19, 2025 – Iqaluit, Nunavut

The City of Iqaluit would like to inform residents about how the City develops its annual budgets and manages its finances.

Each year, the City prepares two separate but related budgets. The Operating Budget funds the City’s day-to-day services. This includes water and waste management, snow clearing, road maintenance, recreation programs, general administration, and the wages of City staff. It also covers costs such as fuel, insurance, utilities, and supplies.

The Capital Budget is used for long-term investments in infrastructure and major equipment. These are large projects that often take years to plan and complete. Examples include road upgrades, water and sewer system repairs, vehicle and equipment purchases, and facility improvements. Most capital projects are funded through external grants provided by the Government of Nunavut or the Government of Canada.

The annual budget process begins with City administration, led by the Corporate Services Department and Finance staff. They work with other departments to develop draft budgets based on historical spending, known contractual obligations, current needs, and Council’s strategic goals. They also forecast revenues, including user fees, property taxes, and government funding.

Once the draft budgets are complete, they are presented to City Council. In Iqaluit, budget review takes place within the Finance Committee of the Whole, which includes all members of Council. Councillors examine the budgets in detail, ask questions, and may recommend changes. This stage allows for discussion of priorities and adjustments before final approval.

To become official, both the Operating and Capital Budgets must be adopted by Council through a formal resolution process. In addition to adopting the budgets annually, Council also approves the annual property tax rates through the the Mill Rate Bylaw. This Bylaw sets the property tax rates based on current assessment values and revenue needs.

The Mill Rate bylaw is required annually and must go through three readings at public Council meetings before it comes into effect.

Once approved, the budgets guide City operations for the fiscal year. The Finance Department monitors spending closely, provides regular updates to Council, and ensures that expenditures remain within the approved amounts. At the end of the year, an independent auditor reviews the City’s financial records and prepares a public report. This ensures transparency and accountability in the use of public funds.

The City of Iqaluit is committed to clear communication and accountability in how public resources are managed. We thank residents for their continued interest in the City’s operations and services.

##

For additional information, please contact:

Geoff Byrne
Manager of Communications and Customer Service
City of Iqaluit 867-979-5619 | G.Byrne@iqaluit.ca