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2017 Budget

Springwater Approves 2017 Budget

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:
Chart of Budget Breakdown
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.”

View the approved 2017 Budget


2017 Budget & Business Plan

As per section 290(1) of the Municipal Act, 2001, “for each year, a local municipality shall, in the year or the immediately preceding year, prepare and adopt a budget including estimates of all sums required during the year for the purposes of the municipality, including, 
  • amounts sufficient to pay all debts of the municipality falling due within the year; 
  • amounts required to be raised for sinking funds or retirement funds; and
  • amounts required for any board, commission or other body."
Township Council is thus required to approve a balanced budget each fiscal year that must be finalized and approved prior to final property tax bills being issued.

The operating budget includes annual expenditures for personnel costs, materials and supplies, contracted services, minor capital, debt charges, reserve transfers and program fees.

The Township’s capital budget includes expenditures and financing sources to acquire, construct, maintain and facilitate Township capital assets such as: roads, bridges/structures, water distribution and wastewater collection systems, recreational facilities and administrative facilities.

   

   
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