Penetanguishene Approves 2018 Budget

Posted on Thursday November 30, 2017

At the November 22, 2017 Council meeting, Penetanguishene Council approved the 2018 operating and capital budgets which included expenditures totaling just over $24 million ($10 million operating & $14 million capital). Town staff worked closely with Committee of the Whole to come in at 1.96% for the Town portion of the tax bill, excluding the OPP component, which falls within Council’s preliminary budget goal as per our calculated Municipal Price Index.

The objective was to provide a budget that maintained the service levels that our residents enjoy with an increased investment in our roads infrastructure, while limiting the financial impact on our taxpayers and ensuring financial sustainability. Often times, balancing these objectives can be a challenging process to complete.

The highlights of the budget include:
* The Town’s tax-supported capital program for 2018 was approved at $1.15 million;
* The Town’s total capital program for 2018 (from all funding sources) was approved at $14 million;
* A combined investment of $327,000 into Fire & Emergency Services vehicles & equipment over 2018 and 2019;
* A combined investment of $1.9 million into the Town’s Recreation and Community Services facilities over 2018 and 2019;
* The Town’s tax-supported operating budget for 2018 was approved at $10 million;
* Funding of $205,000 for Events including summer programming at the Town’s new Amphitheatre;
* $300,000 for the Town’s Preventative Maintenance Roads Program;
* $54,000 for the Town’s Transit Program;
* OPP Contract costs of almost $1.6 million; and
* $963,000 for our continued commitment towards debt reduction.

Overall, the 2018 tax-supported operating and capital budgets result in a 1.96% tax impact (excluding the OPP component) on the Town’s portion of the tax bill or $16 per $100,000 of residential assessment. The Town’s tax rates will be set in April, upon receipt of the County and Provincial tax rates.