City Finances

Toronto's Long-Term Financial Plan

NEW – Phase two of the public consultation is underway

The City of Toronto is continuing its public consultation on the development of its Long-Term Financial Plan.

The second phase of the consultation will focus on:

  1. Maturing our government – making better use of the tools and governance structures we have, and getting the tools and governance structures we need.
  2. Relating long-term decision-making to long-term plans, long-term finances, and implementation.
  3. Helping you give better input, and helping Council make better decisions, with information and data.
  4. Supporting public participation in long-term planning and decision-making.
  5. Balancing our priorities with our books.


Toronto residents are invited to join a conversation about how shaping the city we want, and the long-term plan to pay for it. On Saturday, April 22 the City hosted an interactive afternoon of workshops and discussions at Toronto City Hall.

The discussions continue and residents can still still participate by visiting InvestinginTO.ca to:

  • Complete an online survey, available until May 14
  • Connect and organize:
    • Download a kit and run your own session(s) – Available on line at www.investinginTO.ca in April. The kit includes suggested agenda, background information, and discussion questions.
    • Follow the City on social media at @TorontoComms or on Facebook at www.facebook.com/InvestinginTO/
    • Spread the word and the information online, have conversations in and around the community and share your feedback with the City.
  • Learn more about Toronto’s governance structure, financial planning processes, budget information and what we heard in phase one of the consultation.

Results of Phase One of the public consultation

In November and December the City conducted surveys focused on the City's capacity to manage expenses and achieve its goals, as well as possible revenue options for the City. The City also held a series of public meetings that focused on specific expense, revenue and asset options needed to achieve long-term financial stability.

The reports from Phase One, the December 2016 Meetings and Surveys Results are available for download.

The City's Long-Term Financial Direction

The City's Long-Term Financial Direction Update was considered at Executive Committee on December 1, 2016. The City’s Long-Term Financial Direction report, from the City Manager, Deputy City Managers and Chief Financial Officer, was approved by City Council at its June 7-9, 2016 meeting. 

Backgrounder: The City's Long-Term Financial Direction Update 
Backgrounder: The City’s Long-Term Financial Direction (PDF)

Presentation to Executive Committee (PDF)

The report explores the underlying conditions of City finances by reviewing the expense and revenue patterns of recent budgets. It also provides a basic forecast of future expense pressures and revenue performance and outlines a series of principles and directions to guide the development of new strategies to manage expense and revenue over multiple years.

Related Reports

Two closely aligned staff reports were brought forward to the Executive Committee on December 1, Asset Optimization Review – Toronto Hydro Corporation and Toronto Parking Authority and The City of Toronto’s Immediate and Longer-Term Revenue Strategy Direction.

Backgrounder: Asset Optimization Review – Toronto Hydro Corporation and Toronto Parking Authority
Backgrounder: The City of Toronto’s Immediate and Longer-Term Revenue Strategy Direction

Learn more about City finances

City Plans and Strategies

What is Toronto investing in for the future?

City Council has adopted a number of critical strategies and plans to address current challenges the City faces, and implement strategies to create economic stability, social equity, long-term environmental sustainability and a healthy city.

The City looks to these strategies when making decisions about which services to deliver and how much of each service is needed to successfully achieve each plan's goals.

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Social Development

Social development encompasses principles of social equity, social well-being and citizen engagement, and is an important determinant of healthy communities and quality of life.

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Economic Vitality

Economic vitality refers to the health of the city’s economy and includes such factors as diversified employment, skilled workforce, competitiveness, investment and affordability.

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Environmental Sustainability

Environmental sustainability encompasses principles of environmental balance and the integration of environmental considerations in our social and economic activities.

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Fiscal Sustainability

Fiscal Sustainability refers to the City’s ability to maintain its program and services while also funding its growing commitments.

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Governance

Good governance refers to the system of municipal government in terms of its role as a democratic institution, a public policy maker and a deliverer of public services.

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City Building

City building views the City as a whole and focuses on investment in social and physical services and infrastructure, which are fundamental to the city’s quality of life.

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Agencies and Corporations

City Council delegates varying levels of authority to agencies and corporations to deliver services on its behalf.