2016 Budget

Link here SEGUIN TOWNSHIP 2016 PRELIMINARY BUDGET Binder

May 2, 2016

The effective 2016 tax rate increase, originally planned for 2.0%, has been reduced to 1.5%, as per the request of Council.

The only changes to the 2016 Capital Budget have been the inclusion of the $250,000 Stanley House Transfer Station Project and the addition of the Enabling Accessibility Fund grant portion of the Rosseau Waterfront Accessibility Project.

Overall, this Budget proposes a 2016 Municipal Tax Rate of .350224%; with the Provincial Education tax rate of .188%, the combined 2016 Residential tax rate will be 0.538224%, compared to 0.546688 in 2015.

What does this mean for our ratepayers?

In 2016, the total average residential property taxes will increase by .34% compared to 2015, or $8.26 on the average residential property tax bill.”

SEGUIN TOWNSHIP 2016 PRELIMINARY BUDGET ASSUMPTIONS

Key principles:

  • No debt or deficit
  • Maintain 5 year capital program, as approved by Council in 2015 budget, as adjusted for the Rose Point Road Project
  • All reserves to be positive over next 5 years
  • Maintain programs and staffing levels

Assumptions to be used in preparing Draft Balanced Operating Budget:

  • Current CPI is 1.4% (November 2015)
  • 2016 COLA of 1.5% to be implemented January 1, 2016
  • EI, WSIB, CPP and OMERS rates unchanged
  • Insurance increase of 2% as starting point, per broker
  • Heat, hydro, fuel and propane costs increase of approximately 2%
  • EMS – 3%, as advised by D. Thompson
  • DSSAB – 0.44% actual levy received
  • Belvedere – 7.68% actual levy received
  • OPP – Increase of $205,000 due to billing model implementation, plus annual operating increase of $71,745
  • Contingency remains at $100,000

Taxes:

  • 2016 Preliminary tax rate increase 2% (after adjustment for phase in) – 2016 preliminary municipal tax rate of 0.351949%, compared to 2015 rate of 0.351688%
  • 2016 Phase-in assessment growth of approximately $67 million (this would generate $257,000 in municipal taxes at 2015 rates, before adjustment of the tax rate)
  • 1% tax rate increase generates approximately $110,000 in municipal tax revenue (before real and phase in growth)
  • 2016 Taxes from real growth – $126,000

Capital:

  • 2016 Capital budget originally projected to be $2.3 million, as per 2015 budget; $485,000 for Clear Lake Road pushed out to 2017, per Council direction regarding the Rose Point Road project in 2015

Major 2016 capital projects:

  • Overlay Stanley House Road, N Sandy Plains, Reptile Museum – $199,000
  • Replacement of Building truck – $30,000
  • Replacement of VR35 – 2003 single axel Sterling – $215,000
  • Replacement of VR37 – 2005 Case Backhoe – $140,000
  • Replacement of VW09 – 2010 Chev Pickup – $40,000
  • Replacement of Pump 42 – 1992 GMC – $350,000

5 Year Budget Targets, from 2015:

  • Maximum 2% Tax Rate increase per year for 2017-2020
  • External levies on average stay at or near inflation of 2%