2015 Preliminary Budget, Strategic Plan & Community Development Plans
January 12, 2015: Seguin Council Staff and the Finance Committee reviewed the preliminary Budget based on a 3% increase. Council recommended that staff prepare an interim budget with a 2.5% increase.
February 2, 2015 Update: Seguin Budget 2015 a 2.5% increase.
On January 12, 2015, Council, senior staff and the Finance Committee reviewed the 2015 Preliminary Budget. Council recommended that staff prepare an interim budget with a 2.5% increase. Accordingly staff has made the following revisions:
- The 2015 municipal tax rate contemplated by this preliminary budget would be 0.351688%, compared to the 2014 rate of 0.35051%, which is an effective tax rate increase of 2.5% (after adjustment for phase in).
- No changes made to the Capital budget of $3,020,300. Carryforwards from 2014 will be finalized in the next few weeks, and will be added to the final Capital budget, which is expected to come before Council in April or May, 2015.
- No changes made to departmental Operating budgets. The 2015 Departmental Operating Budget of $7,429,488 represents a 1.04% increase over the 2014 Departmental Operating Budget of $7,352,993.
- At the February 2 Meeting of Council, Staff are recommending Approval in principle of these amounts to allow staff to start implementing the projects and programs within these budgets, subject to the Township’s Purchasing Policy.
- As in previous years, approval in principle would still allow for changes to the budgets prior to striking the final estimates for 2015, which is expected to be brought to Council in May, 2015.
- In May 2015 all external levies will be adjusted for the actual levy notices received, revenues will be updated, reserve transfers finalized and the final tax rates will be set.