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Springwater Approves 2017 Budget

Springwater Approves 2017 Budget

Township of Springwater / January 25, 2017 – Springwater Council approved the 2017 Budget with a fiscally responsible 1.39% net tax increase over 2016 rates.

When combined with the County of Simcoe approved budget and the education rate, which staff have assumed to remain neutral, the blended tax increase is estimated at 1.43%.

For an average home in Springwater assessed at $404,000, the approved blended rate amounts to an annual increase of $48 over 2016 levels, or $4 per month.

For every tax dollar spent:

  • $0.42 is retained by the Township;
  • $0.36 goes to the County of Simcoe, and;
  • $0.22 goes towards Education.

The 2017 Budget includes gross expenditures of $31.7 million comprised of $17.2 million in tax supported operating expenses, $10.2 million for the capital budget, $2.8 million for water operations and $1.5 million for wastewater operations.

Roads and related infrastructure projects make up the largest portion of the capital budget with an allocation $3.2 million, followed by wastewater infrastructure projects at $2.4 million and fleet & equipment at $1.6 million respectively.

For every tax dollar collected from Springwater residents, it is distributed as follows:

 

2017

Public Works

0.24

Policing

0.18

Administration

0.17

Fire & Emergency Services

0.10

Recreation & Programs

0.07

Winter Maintenance

0.07

Facility Management

0.06

Library

0.04

Planning, Committee of Adjustment & Economic Development

0.03

Conservation

0.01

By-law

0.01

Elmvale Arena

0.01

Capital Infrastructure

0.01


TOTAL

 

1.00


For the second year in a row, the operating budget includes an additional 1% to support capital infrastructure. These funds will be dedicated to the future replacement of roads, bridges, fleet, facilities and parks.

“Through a number of thorough meetings, Council has arrived at a fiscally responsible budget that provides for the needs of the municipality, while also taking into consideration quality of life and resident satisfaction,” says Mayor Bill French. “The 2017 Budget maintains existing service levels and prepares for the future.”


Posted on 01/25/2017
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