Iqaluit city council approves capital and operating budgets

Iqaluit’s 2024 city budget received final approval this week.

Council unanimously approved the $82-million capital budget and $58.7-million operating budget at its regular meeting Tuesday night.

The capital budget carries a $26-million surplus and the operating budget’s surplus is $2 million.

Councillor Kyle Sheppard said the budgets were the “best-prepared” he’d seen on his time on council during last week’s committee meeting.

Nearly half of the city’s capital spending, approximately $41.44 million, will go toward water-related work including water and wastewater system upgrades, water supply work, a dam safety management program and a wastewater treatment plan.

Tax revenue is projected to be $25.1 million, which would be an increase of $1.6 million from the previous year.

Most city services will include a general increase in spending but without any tax increases passed on to residents.