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2014 BUDGET PRESENTATION Tuesday January 28, 2014 2014 BUDGET PRESENTATION Tuesday January 28, 2014.

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Presentation on theme: "2014 BUDGET PRESENTATION Tuesday January 28, 2014 2014 BUDGET PRESENTATION Tuesday January 28, 2014."— Presentation transcript:

1 2014 BUDGET PRESENTATION Tuesday January 28, BUDGET PRESENTATION Tuesday January 28, 2014

2 The complete budget document can be located on the Lanark Highland’s web site at www. lanarkhighlands.ca /Services/Budget.php The assessment in Lanark Highlands for 2014 taxation increased on average 5.53%. Of this, 1.65% relates to real growth, 3.88% relates to assessment phase-in increase. The 2014 budget includes a municipal tax levy increase of 2%. This approximates about $ 84,000 of additional revenue for Municipal operations is the forth consecutive year the tax rate increase has been maintained at 2%. Policing Cost has increased $ 43,544 for This equates to about 1% of the tax levy. Policing Cost represents about 8.5% of the Township’s total gross expenses.

3 The Ontario Municipal Partnership Fund Grant ( OMPF ) increased by $114,800. Since 2009, this grant had been steadily decreasing. The increase for 2014 is a welcome reprieve. At this time, a $ 150,000 surplus is forecast for The 2013 year end must still be completed as well as the 2013 audit. Therefore, this forecast is subject to change. This surplus is attributable to actual expenses being approximately $ 60,000 less than budgeted but also tax revenue being $ 90,000 higher than budgeted. Most of the tax increase was created by additional tax supplementaries based on reassessments by the Municipal Property Assessment Corporation ( MPAC )

4 The 2014 budget includes $ 2,000,500 to be spent on capital items and projects. $ 236,865 of this amount will be funded through the tax levy. The remainder will be funded from reserves, development charges and a $ 1,099,088 grant from OMAFRA - MIII

5 Building & Protective Services: Fire Services: Scott SCBA Regulators $ 14,000 Rapid Intervention Team Equipment 5,500 Hoses, nozzles, fittings, gated valves 26,000 ¾ ton 4X4 crew cab 30,000 Emergency Lighting 15,000 Total $ 90,500

6 ( continued ) Community Services: Youth Centre capital work $ 12,000 Community Halls capital improvements 13,000 Property Acquisition – survey & legal – Clyde Forks Cemetery 5,000 Total 30,000 Public Works – Environmental Services: Middleville waste site 250,000 Land Purchase Costs – Robertson’s Lake / White Lake 45,000 Total $ 295,000 ( continued )

7 2014 BUDGET EXPENDITURES ( CONTINUED ) Public Works – Transportation: Resurface.6km on Paul Drive $ 25,000 Acquire Property & Realign Coon Hill 80,000 Design & Engineering – Sheridan Rapids & Galbraith Rd. Bridges 120,000 Design / Engineering & Construction – French Line Bridge 1,290,000 ½ Ton Truck 30,000 Asphalt Conveyor for Village Truck 10,000 Repair Salt Shed at Joe’s Lake 30,000 Total $ 1,585,000

8 2014 BUDGET SUMMARY BUDGET FORECAST BUDGET BUDGET NOTES EXPENSES Departments $ 5,273,201 $ 5,212,987 $ 5,518,853 Conservation Authority Levy $ 28,996 $ 30,000 Increase Allowance for Doubtful Accounts TOTAL EXPENSES $ 5,302,197 $ 5,241,983 $ 5,548,853 REVENUES Payments in Lieu $ 53,000 $ 56,000 $ 57,000 LCBO, Post Office, County Forest, Hydro Interest & Penalties on Taxes $ 165,000 $ 173,000 $ 170, %/month as per Municipal Act Ontario Municipal Partnership Fund (OMPF) $ 1,319,700 $ 1,434,500 as confirmed by Ministry of Finance Interest Income $ 35,000 $ 26,000 on operating bank accounts Aggregate Producers Grant $ 60,000 $ 61,636 $ 60,000 Reflects anticipated aggregate producers Provincial Offences Act Income $ 55,000 output Taxes $ 4,158,800 $ 4,245,000 $ 4,334,200 incl. 2% rate increase + estimated 2014 supplementries TOTAL REVENUES $ 5,846,500 $ 5,936,336 $ 6,136,700 SURPLUS / ( DEFICIT ) BEFORE POLICING $ 544,303 $ 694,353 $ 587,847 OPP POLICING CONTRACT $ 544,303 $ 587,847 Estimate - 8.5% Salary related increase TOTAL SURPLUS / ( DEFICIT ) $ - $ 150,050 $ -

9 SUMMARY - DEPARTMENT 2014 BUDGET DEPARTMENT BUDGET FORECAST BUDGET Corporate $ 1,009,387 $ 957,526 $ 1,060,61919% Building, Planning & Protective Services $ 786,841 $ 775,757 $ 827,80215% Community Services $ 227,686 $ 244,934 $ 262,6255% Public Works & Waste Management $ 3,249,287 $ 3,234,770 $ 3,367,80761% TOTAL $ 5,273,201 $ 5,212,987 $ 5,518,853100%

10 AGGREGATE GRANT & OTHER 3% AGGREGATE GRANT & OTHER 3% 71% in 2010, 2011,2012 & 2013

11

12 Gross Road Expenditures by Function

13 PROPERTY TAXES HOW THEY ARE CALCULATED PropertyTaxesPropertyTaxes = = AssessedPropertyValueAssessedPropertyValue EducationTaxRateEducationTaxRate MunicipalTaxRateMunicipalTaxRate CountyTaxRateCountyTaxRate X X Note : Assessed Property Values provided by the Municipal Property Assessment Corporation ( MPAC )

14 WHERE YOUR TAXES GO RETAINED BY THE TOWNSHIP TO THE COUNTY OF LANARK TO THE COUNTY OF LANARK TO SCHOOL BOARDS 50 % 33 %

15 2014MUNICIPAL PROPERTY TAX OBLIGATION 2 % LEVY INCREASE 2014MUNICIPAL PROPERTY TAX OBLIGATION 2 % LEVY INCREASE Example: 2013 Example: 2013 Property assessed at $182,900 Property assessed at $182,900 Rising by average assessment increase 3.88% Rising by average assessment increase 3.88% Property assessed at $190,000 Property assessed at $190,000

16 2014 MUNICIPAL PROPERTY TAX OBLIGATION Does not included County & School Taxes 2.0 % LEVY INCREASE 2014 MUNICIPAL PROPERTY TAX OBLIGATION Does not included County & School Taxes 2.0 % LEVY INCREASE Municipal Tax Obligation Residential Property $ 182,900 in 2013 $ 1, Average Residential Assessment 3.88 % = Residential Property $ 190,000 in 2014 $ 1, Increase in Annual Taxation $ 22.85

17 Budgeted Reserve Balances Jan 1, 2014 $ Transfer In $ Transfer Out $ Dec 31, 2014 $ TI = Transfer In TO= Transfer Out Operating funds 502,62759,32120,000541,948TO = Wage/Benefit Adjust. Capital Funds404,506 50,00045, ,506TO = Waste Site Capital Administration Building 104,500 25,000129,500TI= Per Budget Election Expense 33,859 29,000 4,859TO= 2014 Election Computer Replac. 18,000 6,00015,000 9,000TO= Capital Asset Software Emerg. Generator Bidg. 15,000 CBO Vehicle 13,679 Road Mntce. Equip 34,874282,50040,000277,374TI = Surplus on Equip Rental TO = ½ Ton Pickup / Asphalt Conveyor Policing Reserve14,024

18 Budgeted Reserve Balances ( cont.) Jan 1, 2014 $ Transfer In $ Transfer Out $ Dec 31, 2014 $ TI = Transfer In TO= Transfer Out Gas Tax Funding195,691148,483299,91244,262TI= Gas Tax Funding TO= French Line Bridge Special Reserve – Crain’s Constr. 24,000 6,00030,000 TI= Per Crain’s Agreement Recreation 34,612 2,00036,612TI= Sale of Lottery Lic. Vincent Hall 5,116 Lanark Arena 54,401 25,000 79,401TI= Per Budget Lanark Village Museum 7,801 Fire Capital304,49984,30061,500327,299TI = Per Budget Fire – PPEquip & Radio Licencing 30,00010,00029,00011,000TI = Per Budget TOTAL1,797,189698,604539,4121,956,381

19 JAN $ TRANSFER IN $ TRANSFER OUT $ DEC $ Development Charges. 330,000 50,000 12, ,500 Cash in Lieu of Parklands 101,100 4,500 99, ,100 54,500 12,500466,800 TRANSFER OUT Scott SCBA Regulators3,500 Hoses, nozzles, fittings6,500 Library Services2,500 TOTAL12,500 Development Charges / Cash in Lieu of Parklands ( Estimates )

20 PURPOSE LENDER BAL. INTEREST YEAR DEC RATE PAID OFF DEC RATE PAID OFF 2017 Road Reconstr. Infrastructure Ont. $ 458, % Road Reconstr. Infrastructure Ont. $ 32, % Road Reconstr. Township of $ 805, % 2021 Lanark Highlands ( Water & Sewer ) 2019 Arena Ice Plant Infrastructure Ont. $ 804,000 TBD 2019 $ 1,296,324 Total annual repayment obligation combined principal & interest = $ 307, LONG TERM DEBT 2013


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