Budget and Financial Reports

2019 Pre-Budget Survey

Council is responsible for managing and investing your tax dollars to meet the needs of the community. The Finance Department coordinates the preparation and presentation of the Operating and Capital Budgets and Financial Reports that Council approves.

Budget

2018 Approved Operating and Capital Budget

Operating and capital budgets support the strategic direction set by Council while maintaining current service delivery in the most cost effective manner.

Our budget process begins in the fall for the following year. We develop the budget on current operational requirements and various studies and policies such as the Roads Needs Study, Asset Management Plan, Bridge Study, and Action and Design Plans.

The budget has two components: operating and capital. Each component has two sections that present the budget information:

  1. The tax supported business units
  2. The user rate supported business units

Operating Budget

The operating budget outlines the day-to-day activities and programs for our community.

The tax supported business units are general administration, policing, planning, building and assessment, protection to persons and property, fire services, transportation services, harbours, arenas, solid waste management, cemeteries, recreation and leisure services, parks, beach, community centres and libraries, drainage and economic development.

The user rate supported business units are water and wastewater. Separate budgets are prepared to ensure only the operational expenses associated with providing water distribution and wastewater collection are recovered from user fees and not taxation.

Capital Budget

The capital budget includes vehicle, equipment, facility, and infrastructure replacement. We use our asset management plan and assessment and risk information to create a 10 year capital projection. Replacement or upgrading of existing assets is typically funded from capital reserve funds. Staff also research for grants that may apply to the identified projects. Although there is a 10 year projection, the budget is approved only 1 year at a time.

Archived budgets

2017 Operating and Capital Budget

2016 Operating and Capital Budget

2015 Operating and Capital Budget

2014 Operating and Capital Budget

2013 Operating and Capital Budget

2012 Operating and Capital Budget

Financial reports

Financial Statements

2017

2017 Audit Financial Statement PowerPoint Presentation presented to Council on June 26, 2018

2017 Financial Statements

2017 Cash in Lieu of Parkland Statement

Archives

2016 Audit Financial Statement PowerPoint Presentation presented to Council on June 6, 2017

2016 Financial Statements

2016 Cash in Lieu of Parkland Statement

2015 Financial Statements

2014 Financial Statements

2013 Financial Statements

2012 Financial Statements

2011 Financial Statements

Asset Management Plan

In 2012, the Province of Ontario introduced a new program to help municipalities plan for the future and start to address the mounting infrastructure backlog. Ontario's Municipal Infrastructure Investment Initiative (MIII) required municipal governments to complete a comprehensive Asset Management Plan (AMP) in order to be eligible for new capital funds. We completed the process for all the municipal asset classes, although there was only a requirement to do 5 – roads, bridges, water, wastewater and storm systems.

Water and Wastewater Financial Plan

View the Water and Wastewater Financial Plan.

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