2017 Draft Budget Binder

2017 Draft Budget Binder

2017 Operating and Capital Budgets in Principle
Recommendation:
That Council approves in principle, by way of resolution, the 2017 Departmental Operating Budget of $7,749,212 and the 2017 Capital Budget of $3,010,550.

Background:
On January 9, 2017, Council, senior staff and the Finance Committee reviewed the 2017 Preliminary Budget for the Township. Since that date, as directed by Council, staff has made the following revisions:

  • The 2017 municipal tax rate contemplated by this preliminary budget remains at 0.353726%, compared to the 2016 rate of 0.350224%, which is an effective tax rate
    increase of 1.0%.
  • Increase of $20,000 to the Departmental Operating budgets, in order to accommodate additional one-time grinding at the Landfill. The total Departmental Operating
    budgets now amount to $7,749,212, compared to $7,729,212 as proposed at the January 9 meeting. The 2017 total Departmental Operating Budget represents a
    2.01% increase over the 2016 total Departmental Operating Budget of $7,596,483.
  • Increase of $5,000 to the Donation budget line, in order to accommodate the annual donation to the WPSHC of $5,000 for physician retention and recruitment.
  • Increase of $44,275 to the capital budget, bringing the 2017 Capital Budget to $3,010,550. This increase is to accommodate the Landfill Expansion Project and the
    Waterfront Design Guidelines, as outlined in the 2017 Community Development Plans. As directed by Council, the Waterfront Design Guidelines have been included in the
    Budget in Principle contingent upon a further report and recommendation from staff to Council on the proposed project and Council approving the recommendation prior to implementing the project.
  • Staff continue to finalize the Capital Carryforwards from 2016, which are not expected to exceed the original forecast of $269,000. Approval in principle of these amounts would 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 2017, which is expected to be
brought to Council in April or May, 2017. At that time, all external levies will
be adjusted for the actual levy notices received, revenues will be updated,
reserve transfers finalized and the final tax rates, including those for the
school boards, will be set.
Respectfully submitted by:
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Michele C. Fraser, CFO/Treasurer
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Chris Madej, CAO