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2014 BUDGET PRESENTATION Tuesday January 28, 2014

2014 BUDGET PRESENTATION Tuesday January 28, 2014. 2014 BUDGET. The complete budget document can be located on the Lanark Highland’s web site at www. lanarkhighlands.ca /Services/Budget.php

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2014 BUDGET PRESENTATION Tuesday January 28, 2014

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  1. 2014 BUDGET PRESENTATION Tuesday January 28, 2014

  2. 2014 BUDGET • The complete budget document can be located on the Lanark Highland’s web site at www. lanarkhighlands.ca/Services/Budget.php • The assessment in Lanark Highlands for 2014 taxation increased on average 5.53%. Of this, 1.65% relates to real growth, 3.88% relates to assessment phase-in increase. • The 2014 budget includes a municipal tax levy increase of 2%. This approximates about $ 84,000 of additional revenue for Municipal operations. • 2014 is the forth consecutive year the tax rate increase has been maintained at 2%. • Policing Cost has increased $ 43,544 for 2014. This equates to about 1% of the tax levy. Policing Cost represents about 8.5% of the Township’s total gross expenses.

  3. 2014 BUDGET • The Ontario Municipal Partnership Fund Grant ( OMPF ) increased by $114,800. Since 2009, this grant had been steadily decreasing . The increase for 2014 is a welcome reprieve. • At this time, a $ 150,000 surplus is forecast for 2013. The 2013 year end must still be completed as well as the 2013 audit. Therefore, this forecast is subject to change. • This surplus is attributable to actual expenses being approximately $ 60,000 less than budgeted but also tax revenue being $ 90,000 higher than budgeted. Most of the tax increase was created by additional tax supplementaries based on reassessments by the Municipal Property Assessment Corporation ( MPAC )

  4. 2014 BUDGETED CAPITAL EXPENDITURES 2012 BUDGET OBSERVATIONS & ASSUMPTIONS The 2014 budget includes $ 2,000,500 to be spent on capital items and projects. $ 236,865 of this amount will be funded through the tax levy. The remainder will be funded from reserves, development charges and a $ 1,099,088 grant from OMAFRA - MIII

  5. 2014 BUDGETED CAPITAL EXPENDITURES 2012 BUDGET OBSERVATIONS & ASSUMPTIONS Building & Protective Services: Fire Services: Scott SCBA Regulators $ 14,000 Rapid Intervention Team Equipment 5,500 Hoses, nozzles, fittings, gated valves 26,000 ¾ ton 4X4 crew cab 30,000 Emergency Lighting 15,000 Total $ 90,500

  6. 2014 BUDGETED CAPITAL EXPENDITURES ( continued ) Community Services: Youth Centre capital work $ 12,000 Community Halls capital improvements 13,000 Property Acquisition – survey & legal – Clyde Forks Cemetery 5,000 Total 30,000 Public Works – Environmental Services: Middleville waste site 250,000 Land Purchase Costs – Robertson’s Lake / White Lake 45,000 Total $ 295,000 ( continued )

  7. 2014 BUDGET EXPENDITURES ( CONTINUED ) Public Works – Transportation: Resurface .6km on Paul Drive $ 25,000 Acquire Property & Realign Coon Hill 80,000 Design & Engineering – Sheridan Rapids & Galbraith Rd. Bridges 120,000 Design / Engineering & Construction – French Line Bridge 1,290,000 ½ Ton Truck 30,000 Asphalt Conveyor for Village Truck 10,000 Repair Salt Shed at Joe’s Lake 30,000 Total $1,585,000

  8. 2014 BUDGET SUMMARY

  9. 2014 NET EXPENSE SUMMARY by DEPARTMENT

  10. 2014 GENERAL REVENUES AGGREGATE GRANT & OTHER 3% 71% in 2010, 2011,2012 & 2013

  11. 2014 NET EXPENDITURES by COST CENTRE

  12. Gross Roads Expenditures by Function Gross Road Expenditures by Function

  13. PROPERTY TAXES HOW THEY ARE CALCULATED Education Tax Rate Property Taxes Assessed Property Value Municipal Tax Rate = X County Tax Rate Note : Assessed Property Values provided by the Municipal Property Assessment Corporation ( MPAC )

  14. WHERE YOUR TAXES GO RETAINED BY THE TOWNSHIP TO SCHOOL BOARDS 50 % 33 % TO THE COUNTY OF LANARK

  15. 2014MUNICIPAL PROPERTY TAX OBLIGATION2 % LEVY INCREASE Example: 2013 Property assessed at $182,900 Rising by average assessment increase 3.88% 2014 Property assessed at $190,000

  16. 2014 MUNICIPAL PROPERTY TAX OBLIGATIONDoes not included County & School Taxes2.0 % LEVY INCREASE Municipal Tax Obligation Residential Property assessed @ $ 182,900 in 2013 $ 1,141.76 Average Residential Assessment Increase @ 3.88 % = Residential Property assessed @ $ 190,000 in 2014 $ 1,164.61 Increase in Annual Taxation $ 22.85

  17. Budgeted Reserve Balances

  18. Budgeted Reserve Balances ( cont.)

  19. Development Charges / Cash in Lieu of Parklands ( Estimates )

  20. 2013 LONG TERM DEBT PURPOSE LENDER BAL. INTEREST YEAR DEC. 31.13 RATE PAID OFF Road Reconstr. Infrastructure Ont. $ 458,356 4.73 % 2017 Road Reconstr. Infrastructure Ont. $ 32,362 2.51 % 2014 Road Reconstr. Township of $ 805,606 3.73 % 2021 Lanark Highlands ( Water & Sewer ) Arena Ice Plant Infrastructure Ont. $ 804,000 TBD 2019 $ 1,296,324 Total annual repayment obligation combined principal & interest = $ 307,513

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