Penetanguishene Council Approves 2017 Budget

Posted on Friday November 25, 2016
Budget Charts
2017 Budget

At last night’s Council meeting, Penetanguishene Council approved the 2017 operating and capital budgets which included expenditures totaling $21.1 million ($14.5 million operating & $6.6 million capital). Town staff worked closely with Council to meet the established budget target of 2.4% for the Town portion of the tax bill which falls within Council’s preliminary budget goal as per our calculated Municipal Price Index of 2.4%.

The objective was to provide a budget that maintained the service levels that our residents enjoy with an increased investment in our roads infrastructure, while limiting the financial impact on our taxpayers and ensuring financial sustainability. Often times, balancing these objectives can be a challenging process to complete.

The highlights of the 2017 budget include:

* The Town’s tax-supported capital program for 2017 was approved at $1.3 million;

* The Town’s total capital program for 2017 (from all funding sources) was approved at $9.1 million;

* An investment of $715,000 into Fire & Emergency Services vehicles & equipment;

* An investment of $413,000 into the Town’s Arena;

* The Town’s tax-supported operating budget for 2017 was approved at $8.2 million;

* Recreation Programming & Day Camp Subsidy Program;

* Funding to consider fibre broadband improvement initiatives;

* Increased contribution to support Regional Economic Development;

* Increased funding for Events including summer programming at the Town’s new Amphitheatre;

* $290,000 for the Town’s Preventative Maintenance Roads Program;

* $53,000 for the Town’s Transit Program;

* OPP Contract costs of almost $1.6 million; and

* $963,000 for our continued commitment towards debt reduction.

Overall, the 2017 tax-supported operating and capital budgets result in a 2.4% tax impact on the Town’s portion of the tax bill or $22.98 per $100,000 of residential assessment. When the total assessment growth is taken into account in 2017, the estimated tax rates for Town, OPP, County and Education purposes are estimated to have an overall tax impact of around 1% on an average residential tax bill over last year. The Town’s tax rates will be set in April, upon receipt of the County and Provincial tax rates.