Learn about the territory’s budget

In the spring sitting of the legislative assembly we release a budget. It outlines our plan for the upcoming fiscal year.

Fiscal year

April 1 through March 31

The government’s budgeting process is a continuous cycle. Each fall, the government’s Department of Finance asks departments to submit spending plans for the upcoming fiscal year. This information is compiled and verified. Decisions are then made by Management Board about what should be included in the spring budget.

The Minister of Finance introduces the budget in the legislative assembly as a bill. Then it's debated by members before being put to a vote for approval. The bill becomes law when it receives assent from the Commissioner of Yukon.

Departments submit financial changes called variances to the Department of Finance throughout the year. These changes are verified and presented as supplementary estimates. This process accounts for any changes to expected spending or revenues.

At the end of the fiscal year the Department of Finance begins reconciling the government’s accounts. When complete, the Office of the Auditor General (OAG) audits the government’s financial statements. These audited financial statements are published as the public accounts.

The budget includes different sections.

Budget address

The Minister of Finance delivers this speech. It outlines government priorities and expected spending for the upcoming year.

Budget highlights

These highlights provide an easy-to-read overview of the budget. The highlights include visual aids and graphics to show important spending decisions for the year.

Fiscal and economic outlook

We use the best available models to inform our understanding of the territory’s current economic environment. The outlook presents a range of indicators as well as our expectations for the future, including:

  • Yukon's fiscal position;
  • fiscal projections;
  • Yukon's economic landscape;
  • analysis of key sectors; and
  • discussion boxes with key considerations.

Five-Year Capital Plan

This plan shows our priorities for major capital infrastructure projects over the next 5 years. It is a valuable tool that helps Yukon businesses plan for upcoming capital projects in Yukon. This is especially important given the short construction season in the territory.

Main estimates

The Operation & Maintenance and Capital estimates are also known as the main estimates. This is the government's budget forecast. It provides a summary of expected revenue and government spending. It also provides individual budgets ‒ known as appropriations ‒ for government departments and corporations.

Financial summaries

These are listed as "consolidated" or "non-consolidated".

Consolidated summaries

These include all government departments and corporations.

Non-consolidated summaries

These include all government departments and reporting entities.

General discussions of surplus or deficit refer to calculations in this section.


These are divided into operation and maintenance (O&M) or capital spending.

O&M spending

This includes costs for the day-to-day delivery of government programs and services.

Capital spending

This includes buying, constructing, repairing or renovating government assets, such as roads and buildings.


The main estimates include:

  • financial summaries; and
  • departmental and corporation detail.

Financial summaries

These are found at the front of the budget. These provide a high-level summary of our expectations for:

  • revenues;
  • expenses;
  • surplus or deficit; and
  • net financial assets.
Consolidated summary

These summaries combine financial information from:

  • government offices and departments;
  • government reporting entities; and
  • government business enterprises.
Government reporting entity

These organisations are controlled by the government. Their activities are reviewed and approved by the Yukon Legislative Assembly.

Government reporting entities include:

  • all government departments;
  • Yukon Development Corporation;
  • Yukon Housing Corporation;
  • Yukon Hospital Corporation;
  • Yukon Liquor Corporation; and
  • Yukon University.
Government business enterprise

These organisations operate as separate legal entities and have their own spending authority. They sell goods or services and meet their own financial obligations. They also have separate reporting schedules.

Government business enterprises include:

  • Yukon Energy Corporation; and
  • Yukon Development Corporation.
Non-consolidated summaries

Budgets within the non-consolidated summary are controlled directly by the government. These are introduced, reviewed, debated and approved directly by members of the legislative assembly.

The government’s financial position is often referred to on a non-consolidated basis. This includes:

  • surplus or deficit;
  • net financial assets; and
  • net debt.
Department and corporation summaries

This section is within the non-consolidated financial summaries. It provides a summary of the budget for each government department and reporting entity.

Department and corporation detail

This section makes up the bulk of the main estimates. It details budgets for each government department and reporting entity. It also includes comparisons to past budgets.

The main estimates lay out the government's budget forecast. It provides a summary of expected revenue and spending from April 1, the start of the fiscal year. Supplementary estimates adjust the budget in response to unanticipated expenditures during the year.

Generally, the legislative assembly considers up to 3 supplementary estimates per year.

The legislative assembly approves all spending of public funds by the government.

Approval of the budget is usually granted at the end of the spring sitting. This may be in April or May, depending on the length of the sitting. Since the fiscal year begins on April 1, approval for interim spending is usually needed while the budget is being debated. An interim supply bill allows the government to meet its financial commitments.

Under unusual circumstances, the government may need to spend additional funds outside of legislative sittings. In this case, a special warrant is issued.

The legislative assembly reviews this spending during the next sitting. At that time, members review, debate and vote on special warrants.

The public accounts contain the audited financial statements of the government. These provide a record of revenue and spending at the end of a fiscal year.

During the spring sitting the Minister of Finance presents the main estimates to members of the legislative assembly. When these elected members vote in favour of the appropriation bill they grant spending authority to the government. This is how a budget gets approved.

The same process is applied to supplementary estimates at different times of the year.


For questions about the territory's budget, email eric.clement@yukon.ca or phone 867-393-6482.