The common questions I get asked:
How much are taxes going up? 2%
This will generate an additional $140,000 in tax revenue, which will be off set by a $146,000 drop in the School foundation rate. So unless your assessment went way up, the average resident should see virtually no increase in their over all taxes.
Is the mill rate going down? yes 3.2% our assessment base was up this year with 1% new development and a little over 3% in increased property values so the mill rate had to decease or taxes would have gone up an additional 3%.
What's happening to our utility bills? They are going up $4.98 per month.
What about Franchise Fees? No change.
Is the municipality hiring new staff? We will be hiring one position this fall to replace a person who is anticipated to retire next year. (CUPE position).
Are we putting money into reserves? Yes 2% of our operating budget.
The problem today we still have a deficit of $117,000
Municipal Options?
Increase revenue by that amount.
Decrease spending
Run with a deficit which with provincial approval we could have up to three years to fix.
MORE******
When we sat down with Administration on Monday April 13 to resolve the deficit we came up with the following cuts. The first item the municipality was informed late Friday that almost $20,000 the province as always paid us In Lieu of taxes on the seniors buildings (Westwinds and Tecumesh Manor) were cut in the most recent provincial budget so our deficit actually increased at the start of the meeting.
· Decrease in Senior’s housing revenue of ($18,904)
· Reduce administration contingency budget by $50,000
· Remove budget for by-elections of $4,500
· Reduce Deputy Fire Chief contracted services by $20,000
· Increase enforcement services fines revenue by $10,000
· Budget to receive $50,000 back from the 2014 Hillcrest 100th anniversary
· Reduce costs to produce municipal newsletter by $10,000
· Reduce fire/rescue budget by $5,000
