2014 Budget Overview May 6, 2014 Elizabeth Savill, Chief Administrative Officer Jennifer Moore, Director of Finance/ Treasurer 1
Presentation Outline 2 Department Highlights Budget Background Download Impact Long Term Financial Plan, Reserves & Debt 2014 Budget Summary
Community & Social Services 3
Transportation 4
Waste Services 5
Golden Plough Lodge 6
Paramedics 7
Corporate 8
The History 9 Current Funding Gap
Funding Gaps 10 Funding Gaps to be Closed Roads & Bridges Construction Program 40 year resurfacing cycle vs desired 20 year cycle Base budget increased $500k again in 2014 Waste Management Landfill site life Remediation and liabilities Implementation of master plan Social Housing Waiting lists - $0 for new units Implementation of Housing & Homelessness plan
Increasing Cost of Downloads 11 Annual cost to County taxpayer increased $2.5M between 2007 and 2013 Escalating costs wipe out upload savings County share will increase again in 2014 Ramping up to sustainable budgets Increasing program costs 2014 first year real benefit from OW upload, offset by other program demands Continue to minimize levy increases and still deliver services by finding efficiencies
Increasing Cost of Downloads 12
Download Impact on the Levy 13 Transportation (Hwy 28, 2, 45 & 30 including all bridges and safety devices) Paramedics Ontario Works Social Housing Children’s Services ODSP MPAC Health Unit Provincial Offences Court Security
Our Long Term Financial Plan 14 Be Realistic To close the funding gap and stay within 2.5%, cost savings must be realized Anticipate & Look Forward County’s strategic issues stay focused on: Economic Renewal & Prosperity Sustainable Infrastructure & Services Supportive Communities Employer of Choice Sustainable & Stable To maintain consistent 2.5% levy increases, we must be flexible and responsive
Reserve & Debt Trend 15 Continue to set aside reserves for infrastructure & unplanned events Debt levels remain stable and well below ARL
2014 Budget 16 Levy increase of 2.5% after growth Growth estimated at 1.02% per MPAC Total levy $46.6M Maintains existing programs and services Supports priorities in 2011 – 2014 strategic plan Funds current capital needs
2014 Major Projects 17 MRF Container Line upgrade Ontario Agri-food Venture Centre Accessible Forest Trail Roads & Bridge program County Official Plan Equipment Replacement Systems - Yardi upgrade, GIS Server Patient simulation & CPR mannequins Facilities (Housing, Corporate & Roads) R&M projects
Roads Program
2014 Budget (Cash) 19 Cash Budget Summary Operating expenses$81.5M Capital $17.2M Debt Principal Repayment $1.3M Change in Reserves ($1.5M) $98.5M Revenues (non-levy) $48.7M Debt Financing $3.2M Levy $46.6M
2014 Budget – Levy 20 Total Levy $46.6 million
Summary 21 2014 budget has a 2.5% increase to the levy Budget maintains programs & services Budget addresses immediate financial challenges Long term plan projects consistent 2.5% levy increases Continued focus on future planning
22 Questions Full budget details are available on the County website: