2015 Budget Recommendations

Posted On Wednesday February 18, 2015

Recommendations to Help Gravenhurst Maintain Financial Sustainability

Gravenhurst, ON-  The recommended 2015 Budget was presented to Gravenhurst Town Council on Tuesday February 17, by Val Sequeira, director of corporate services/treasurer. It addresses the 2014 operating shortfall while providing adequate resources for Town services in 2015.

"This is the first step in the budget cycle and Council’s first opportunity to review the recommendations.  We look forward to Council’s deliberations and further public input in March," said Sequeira.

Tax rates on residential property are projected to increase by 5.2%. The increase on non-residential properties is projected at 3.2%. The estimated financial impact on the ‘average’ Gravenhurst rural residential property tax bill will be an increase of $100 per year based on a median assessment of $217,250. The urban residential property tax estimated increase on a similar assessment will be $133 per year.

The 2015 Budget includes increases for road maintenance and Town facilities. Revenue projections have been set to more sustainable levels. A 1% increase to the tax levy for capital asset replacement and debt repayment costs for completed 2014 capital projects also affect the bottom line. Finally, negotiated wages, employee benefit cost increases and higher insurance costs are offset by reductions across the board to minimize the impact on the 2015 tax levy increase.

This recommended budget also adapts to a future without landfill proceeds from the sale of the Town landfill site to the District in 1996, which concludes this year.

The 2015 Budget presentation can be viewed at www.gravenhurst.ca with the complete proposed Budget to be posted later this week. Council’s Budget meetings schedule can also be found on the Town’s website. All meetings are open to the public and a special meeting has been scheduled for March 7, at 9:00 a.m., for public input.

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For additional information, please contact;

Jason Harnett

Communications Coordinator, Town of Gravenhurst

Jason.Harnett@gravenhurst.ca

Phone: (705) 687-2230 Ext. 239