A municipal budget is the annual financial plan approved by council authorizing revenues and expenditures for the coming year. Budgets include operating budgets covering day-to-day service delivery and capital budgets for infrastructure investments. The budget process typically involves staff preparation, council review, public input, and formal approval. Provincial legislation requires municipalities to pass balanced operating budgets, meaning planned revenues must equal expenditures. Budgets reflect council priorities through funding allocations across departments and programs. Budget documents provide transparency about how property taxes and other revenues will be spent. Budget approval is among council's most significant responsibilities.