HomeMy Public PortalAbout2018-05-10_Highlights 2018-19 Budget_v2
HIGHLIGHTS
DESCRIPTION
• This year, Council’s priorities reflect infrastructure improvement, efficiencies in service delivery,
capacity building for residents and our communities, increasing revenue not related to property
taxation, and long-term investment in communities.
• The Budget supports these priorities by investing in key capital projects, supporting service
enhancements, building reserves, and maintaining funding for economic development.
KEY HIGHLIGHTS
• Operating Budget is $25,063,795, excluding depreciation
• Capital Budget is $8,428,425
• Residential/Resource tax rates hold at $0.705/$100
• Commercial tax rate holds at $1.53/$100
• Solid Waste rate increases by $0.0190 to $0.1205/$100
• Assessment growth accounts for $132,000 in new revenue, but mandatory contributions
to the province increased by $498,260
• Last year’s budget growth was 5.4%; this year’s is 3.9%
KEY PROJECTS AND SER VICES
Service enhancements
• Winter road maintenance
• Launch of website and Voices & Choices
• Expanded visitor information services
• Shared building inspection/fire inspection/dangerous and unsightly services
• New Ross School - Community Use
Infrastructure
• Well Rehabilitation (Upgrade) financing program
• Improvements to sewer systems in Mill Cove, Western Shore, Otter Point, Chester and
service expansion options analysis
• Open space maintenance (including trail improvements and a $15,000 grant for Gold
River Park)
• Funds to proceed with the design for a Chester Village Water System, if deemed
DATE: May 10, 2018
SUBJECT: 2018-19 Capital and Operating Budget
STATUS: FOR PUBLIC INFORMATION
2 2018-19 Budget Highlights
advisable
• Highway #3 Streetscape implementation
• Development of the Business / Industrial Park lands
Community investment
• New Ross Community School partnership
• Fire Services – FIT gear, small equipment, training grants
• $321,000 in Grants to organizations
• $235,000 for Tax exemption/reduction program for non-profit organizations
• Active Living Strategy update
Financial stability
• Increasing reserves by $2.92 million ($1 million from wind revenue)
• Investment strategy development
• COMFIT – planning a wet anaerobic digestion project to increase non-tax revenue
PROVINCIAL STATISTIC S
Mandatory contributions towards provincial services equal 53.29% of our general tax revenue
or $7.35 million;
• Education $ 4,873,192 4.9% increase from last year
• RCMP $ 1,812,597 1.3% increase from last year
• Corrections $ 236,665 0.8% increase from last year
• Assessment $ 347,880 2.1% increase from last year
• Library $ 69,015 0.4% increase from last year
• Housing Authority $ 20,000 no change from last year