The city's spending plans for the next four years, and how much they will affect Londoners' tax rates, will come to light Monday.
The city will table its first ever multi-year budget at 4pm in council chambers.
Last May, council directed city staff to keep the 2016 tax increase to between 2.2% to 2.9%. An increase of that size would see the average London homeowner paying an additional $50 to $75 for the year.
"That was the range that council set, so I anticipate that the budget will be presented in about that range but we will know for sure when it is tabled," says Councillor Josh Morgan.
Morgan was named "special budget advisor" by Mayor Matt Brown in November. Just like the rest of the city, he will see the draft budget for the first time on Monday.
Morgan is hopeful Londoners will take a look at the entire draft budget, not just the bottom line.
"Londoners should always expect value for their money," says Morgan. "So when they see the tabled budget it isn't just about the range it comes in at or the amount that it comes in at, it's about the level of service they are getting for that amount."
In 2015, the average homeowner saw a tax hike of 2.5% or an additional $63 in property taxes.
London joins only two other large municipalities that run multi-year budgets - Calgary and York. The city hopes the budget covering 2016-2019 will allow it to more effectively plan for the long term and achieve its vision and strategic plan.
"The challenge first and foremost is dealing with things on a multi-year basis," says Morgan. "The finance department and our treasurer have worked very hard to have the tools available both for the public consultations and for council to work with as we make changes to the budget. For example, when you have a one year budget you make a change to the budget, you immediately see the new amount. If you have a multi-year budget and you make a change to years one and two the impacts of those changes flow through years three and four."
Londoners will have several opportunities to weigh in on the draft budget. First through an online budget simulator which allows the public to make and submit adjustments to the budget, then through two "build a budget workshops" scheduled for January 16 from 10am to 12pm and on January 20 from 6pm to 8pm at Goodwill Industries at 255 Horton St.
A public participation meeting on the budget will be held January 21 at city hall.