City Releases Municipal Budget
Your Chamber is in the process of reviewing the proposed budget and will be providing feedback from the perspective of the business community later this week. Below you’ll find information supplied by the City as well as links to more detailed information. Stay tuned!
2018 Tax-Supported Capital & Operating Budget Highlights
Overall, the 2018 municipal tax levy of $190.6 million represents an increase of $6.6 million over 2017. The levy is the total amount that needs to be raised from property tax payers to fund city services and contribute to capital infrastructure programs. A further breakdown of the tax levy increase is provided below. The 2018 increase after growth is $5.3 million or 2.90 percent. In 2017 the total municipal tax levy was $184.0 million, an increase of 3.13% over 2016 net of growth.
Total Proposed 2018 Municipal Tax Levy Increase: $6.6 million or 3.61%
Less: New taxation revenue sourced from 2017 net assessment growth: ($1.3 million) or (0.71%)
Net Increase to Municipal Tax Levy (After Growth): $5.3 million or 2.90%
- The growth in the City’s assessment base during 2017 resulting from investment in the community through new construction and expansions provides a tax generating power of $1.3 million. This means that $1.3 million of the municipal tax levy increase will not create any additional financial burden for existing taxpayers.
- The net growth in total property assessment (i.e. the “assessment base”) during 2017 was $74.0 million representing an increase in the City’s assessment base of 0.78%.
- A tax levy increase of 2.90% does not impact all taxpayers equally. Assessment changes are also a factor in determining the increase each taxpayer will experience.
Major Drivers in the 2018 Budget include:
- Reduced annual funding through the Ontario Municipal Partnership Fund of $1.8 million.
- Increased expenses of $1.1 million related to Bill 148, Fair Workplaces, Better Jobs Act, 2017
- Expansion to Superior North EMS Paramedic Services – $0.5 million
- Continued transitioning of Solid Waste Diversion costs to tax supported operations – $0.6 million
- Increased funding for community youth & cultural grants
- Expansions in roads patrolling, inspections and asphalt surface maintenance
- Response to Seven Youth Inquest including First Nation Secondary School Transit Pass Pilot Program for 2017-2018 school year
- Key drivers have been offset by operating reductions of $2.4 million, including savings of $0.7 million in Provincial uploads for social assistance benefit costs and increased grant funding for prisoner transportation and court security costs.
- The 2018 Net Capital budget of $16.4 million is consistent with 2017 (0.3% increase). A significant infrastructure funding gap remains at $23.9 million annually.
- The 2018 budget reflects investments in infrastructure through the $47.6 million gross tax-supported Capital Budget. Major capital projects include but are not limited to:
- Roads and roads related projects – $15.2 million
- Fleet and equipment replacement – $7.5 million
- Waverly Library renewal – $5.7 million (subject to funding from other levels of government)
- Renewal of other facilities – $3.7 million
- Storm water management – $3.0 million
- Parks – $3.0 million
2018 Budget Key Dates
- Budget Direction Presented to Council – July 31, 2017
- Pre-Budget Consultation Meeting – September 12, 2017
- Public Pre-Budget Deputation Meeting – September 26, 2017
- Proposed Budget Available to the Public – January 2, 2018
- Long Term Financial Overview Presentation – January 9, 2018
- Public Pre-Budget Deputation Meeting – January 11, 2018
- Council Detailed Budget Review – January 16, 18, 24, and 31, 2018
- Expected Budget Approval by Council – February 5, 2018