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Town of Newmarket 2011 Budget Presentation Special Committee of the Whole Budget Meeting March 7, 2011 Presenter: Mike Mayes Director, Financial Services/Treasurer.

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Presentation on theme: "Town of Newmarket 2011 Budget Presentation Special Committee of the Whole Budget Meeting March 7, 2011 Presenter: Mike Mayes Director, Financial Services/Treasurer."— Presentation transcript:

1 Town of Newmarket 2011 Budget Presentation Special Committee of the Whole Budget Meeting March 7, 2011 Presenter: Mike Mayes Director, Financial Services/Treasurer

2 Presentation Purpose Review of 2011 Budget Process Budget Process Recap New for Today Possible Objectives for Today 2

3 Budget Process Recap Newmarket Public Library Board Water and Sewer Rate Groups Budget Communications Tactics 3 September Fees and Charges January 31Overview of Preliminary Budget February 17Budget Listening Session February 28Budget binders distributed March 4Budget available for the public

4 The Town of Newmarket is Diverse and Complex 981 full and part-time employees $110 million budget 212 km of roads, 290km of watermains, 50 km of trails, 365 hectares of parks Estimated replacement value of capital assets = $1.1 billion Servicing a population of 84,351 in 27,350 households Managing many lines of business on a day-to-day basis 4

5 The Town of Newmarket is Competitive Comparative tax rate – 2010 BMA study Customer satisfaction 96% of residents are satisfied living in Newmarket nearly 80% are satisfied with the services received from the Town Newmarket is ranked 15th out of 179 Canadian cities and towns and best place to live in York Region 5

6 2011 Budget Priorities Strive to provide quality programs and services to maintain a high level of community satisfaction. Provide for the hiring of 20 new Firefighters to meet growth and ensure public safety. Maintain a responsible and affordable tax levy to respond to current and future needs. Incorporate carry-over obligations to accommodate growth and new facilities. Encourage public engagement and consultation in the budget process through enhanced communication efforts. 6

7 2011 Drivers & Challenges 7 Driver /ChallengeExample Legislation & AgreementsMeeting legislated requirements and agreements [i.e. Accessibility for Ontarians with Disabilities Act (AODA), CYFS] Service Level and GrowthService Delivery Levels, Community Safety/Emergency Services, Asset Replacement Fund Reserves, Parks, Trails & Open Spaces Decreased RevenuesParticipation rates changing due to demographic shifts, decreasing Hydro dividend Increased ExpensesCost of fuel, electricity & other equipment and materials Workforce ConsiderationsMaintaining a sufficient workforce in an increasingly competitive labour market Economic RealitiesSlower than expected recovery, increasing global unrest Environment ShiftsMore complex standards, variable weather conditions Technology NeedsIncrease in on-line services, communication methods (i.e. Twitter, Facebook, etc.) Places to Grow OpportunitiesInvestment by others, new ventures, grant opportunities

8 Breakdown of Tax Increase Under Consideration (Preliminary 1st Draft) CYFS budget has been reviewed by JCC Library budget Growth and Enhancement items have been reviewed by the Board. Town to update Library budget TownCYFSLibraryTotal Base2.51%1.67%0.67%4.85% Mandatory0.56%0.27%0.03%0.86% Growth1.10%2.04%0.00%3.14% Enhancement0.09% 0.00%0.19% Subtotal4.26%4.07%0.70%9.03% Assessment Growth Supplementary Taxes (2.04%) (1.10%) 0.00% (2.04%) (1.10%) Total1.12%4.07%0.70%5.89% 8

9 How our Tax Dollar is Spent Notes: $113 / month $1366 / year 3.24% ($ increase) for residential house $328,182 9

10 Risk and Impact on Future Years De-annualization deferring 1.45% tax increase to 2012 additional fire staff operating costs for CUSP other growth-related initiatives Capital financing is being kept at the 2010 levels asset replacement fund had not been increased since

11 Responsible Financing Strategies Asset Replacement Fund (ARF) $12 million annually for $1.1 billion in assets The Town of Newmarket Debt Policy limit of 10% (currently 6.5%), 85% of which is financed from non-tax sources Service Pricing Policy 5-year Forecast Service Reviews 11

12 New for Today March 1 - CYFS JCC meeting Revised "All-In" Tax Impact Accounting and Policy Changes Questions and issues addressed through Council Information Report Draft 2011 Capital Budget Draft 2011 Reserve and Reserve Fund Budget 12

13 2011 Residential Property Tax Under Consideration Regional Municipality of York is projecting a tax increase of 1.94%. Tax shifts due to variable assessment growth in the province could lower the increase applicable to Newmarket in 2010 by 0.5%. The Region continues to benefit from uploading to the Province. Last year this has allowed them to reduce their tax increase by 3.3%. School Board increase is based on historical trends. Tax shifts due to variable assessment growth in the Region could lower the increase applicable to Newmarket in 2010 by 0.24%. If the 2011 tax shift is the same as in 2010, the all-in tax increase would be 2.17% $ Change% Change Town $ 1, $ 1, $ % Region 1, , % Municipal 2, , % School Board % Total $ 3, $ 3, $ % 13

14 Draft 2011 Capital Budget New Gross Expenditures = $25.5 million 2010 capital budget carryovers Accounting and Policy Changes Pre-budget approval for capital expenditures 14

15 Possible Objectives for Today Direction on inclusions for the Library Growth and Enhancement items Capital projects Draft Capital Budget Direction to staff for further information or analysis 15

16 16

17 Thank you


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