Fiscal Gap Strategies Work Plan
On March 5, Administration and Council discussed the work plan to address and narrow the City’s fiscal gap and protect our long-term financial health. The fiscal gap is the difference between our revenue capacity and spending needs.
The plan includes continuing work to prioritize services and construction projects that are most important to maintaining Edmontonians’ quality of life. We are also going to focus on growing our revenues, examining ways to grow the non-residential tax base, evaluating non-tax revenues like user fees to make sure they’re keeping pace with the cost of service delivery, and continuing to advocate other orders of government for modernized revenue sources that consider the responsibilities and pressures of big cities today.
It’s taken time for the fiscal gap to develop, and it will take time, discipline and difficult decisions to manage it.