On Tuesday, June 22, Council adopted a new fiscal strategy for the Town of Aurora, which will establish a path to long-term financial strength and stability for the municipality.  

The fiscal strategy includes four pillars that must work together over the long-term to achieve financial sustainability. These pillars are capital planning, reserve management, debt management and revenue management. The strategy balances the objectives of all four pillars and lays in the centre where the four pillars meet. 

In practice the fiscal strategy will: 

  • Provide a long-term view to financial stewardship and financial management 
  • Ensure the town maintains desired service levels and adapts to growth 
  • Manage and moderate the fiscal impacts from year-to-year 
  • Enable the town to effectively maintain and replace assets 
  • Prepare the town to adapt to changing economic circumstances 
  • Assess financial impacts between current and future tax and rate payers to reduce fiscal shocks and share financial burden fairly across multiple generations 

With Council’s adoption of the fiscal strategy, Town staff will now begin work on the action plan; identifying and planning out the strategic actions to support the fiscal strategy and the timing of the work to support them. The action plan will be a living document, adapting to the needs of the Town over time, and will be used as a method to report back on the progress of the fiscal strategy. This document will also be used to inform the development of future budgets.

Fiscal Strategy - Approved June 22, 2021

Aurora Budget Foundational Documents

The establishment of its annual operating and capital budgets are a very significant activity of  every municipal Council.  The Town's Finance Advisory Committee and Council have developed and approved two important foundational documents that offer clear direction as to how the Town will conduct its budget process.  The first document, Aurora Council Budget Principles, outlines the key principles that guide the Town in its development of its operating and capital budgets.  While the other document, Aurora Council Budget Process, outlines the formal process for the Town's operating and capital budget review and approval. These documents have been carefully prepared to ensure all participants in the process, whether staff, elected officials, community groups or residents, can understand the foundations of the budget and the full process of reviews applied to the budget details. 

Budget and Financial Information

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