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each year the region develops two budgets the operating and capital budgets the operating budget identifies the money we need to provide all the regions day to day programs of services these expenses include things like staff wages office supplies fuel and utilities as the cost to deliver these services is predictable staff presents a one-year operating budget for councils consideration and approval staff also develops a two-year financial plan as part of the annual budget process the capital budget on the other hand plans for the funds we need to build and maintain our hard physical assets stuff like roads water treatment plants buildings machinery and other equipment as another part of the budget process the region updates a ten year capital plan this plan is designed to ensure Niagara region will have enough money to maintain our current infrastructure while planning for hire replacement costs the plan also considers new projects that will support community growth this is a lot like your personal finances think of operating budget like your monthly personal expenses you need to pay for things like food clothing utilities gasoline and entertainment the capital budget is sort of like your longer-term investments like your home mortgage like your mortgage many of the region's capital projects are paid off over a period of time longer than a year with interest I hope that helps explain the difference between capital and operating budgets click on one of the videos below to learn more about other budget topics