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Proposed 2015-16 Operating and Capital Budgets

Staff presented the 2015/16 Operating and Capital Budget to Council on Tuesday, April 14th.

A copy of the budget is available here:

iconProposed 2015/16 Operating and Capital Budget (4.22 MB)

The budget sets forth a strategic resource allocation plan that is aligned with community goals, preferences and needs and acts as a policy document, financial plan, operations guide, and communication device for Council and residents. The following guidelines were paramount in this year's budget presentation:

• keep tax rates competitive
• mitigate negative future budget changes
• maintain existing service levels
• include a proactive infrastructure funding plan into the base budget
• include the funding for the current year capital plan and present the five year capital forecast

Overall, proposed expenditures are shown as $4,327,900 ($4,230,000 in 2014/15.) The proposed budget maintains existing service levels, funds the current year capital budget while setting up future funding for the five-year capital plan, and proposes new services or items, including:

• requests to increase grants to organizations
• increased funding for road maintenance and tree planting programs

As presented, the budget currently shows a deficit of $3,200 or increases of 0.3 cents on the residential and commercial tax rates; the final budget position will depend on the final deliberations of Council.

Also presented was the proposed 2015/16 Capital Budget with total expenditures of $5,615,300 ($287,500 in 2014/15); projects for the current year include:

• significant sewer treatment plant upgardes
• storm water management & improvements
• parks and recreation infrastructure at Rainforth Park & Connell Park
• wind generation facility
• public works equipment and bus shelter

Documents

iconProposed 2015/16 Operating and Capital Budget (4.22 MB)

iconBudget Presentation - April 14 2015 (600.79 kB)

Next Steps

Questions or queries regarding the budget can be submitted to the Finance Department:

By phone:

Greg Towne, Director of Finance - 538-4014

By email:

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You can also contact any Councillor - click here for their contact information - or come into the Town Hall at 236 Commercial Street.

Budget Schedule

Tuesday April 14, 2015 @ 6:30pm - Budget presented at Council meeting and to public. Presentation only - no deliberations.

Tuesday April 28, 2015 @ 6:30pm - Public input and budget deliberations.

Tuesday May 12, 2015 @ 6:30pm - Budget deliberations and approval - set tax rates.