A multi-year budget is a financial plan covering two or more years, approved by council as a comprehensive package rather than annual budgets adopted each year. Multi-year budgeting provides predictability for residents and departments, reduces annual budget process workload, enables longer-term planning, and allows strategic multi-year initiatives. Councils typically retain authority to adjust multi-year budgets through amendments as circumstances change. Critics argue multi-year budgets reduce flexibility and make it harder to respond to changed conditions. Provincial legislation may authorize or require multi-year budgeting. Common approaches include four-year budgets aligned with council terms.