Changes were made to the South Dundas 2012 budget since The Leader’s March 14th report.
Following is a list of pertinent points from the completed budget which is expected to be passed by council at the March 20th meeting which took place after press time.
According to Treasurer Shannon Geraghty, the “final 2012 budget represents a 5.37 per cent or $253,611.08 increase in municipal levy in comparison to 2011.”
“Operating expenses in comparison to 2011 have increased 0.90 per cent or $79,005, whereas revenue increased by 5.61 per cent or $292,292 mainly due to unfinanced capital outlay transfers along with an increase in interest revenue on outstanding tax arrears.”
“The capital in comparison from 2011 has increased in 2012 by $466,899 or 39.22 per cent,” he continued.
“Capital projects included in the 2012 final budget:
•Micro Surface 16.5 kilometres of roads which include Flagg Road, Broken Second Road, Salmon & Grace Road, and Pleasant Valley Road;
•3.0 kilometres of partial reconstruction of Savings Street;
•Winchester District Memorial Hospital Pledge;
•Playground equipment at Coyle Drive, Winchester Springs and Rowan Drive;
•$500,000 allocated to the Fleet Replacement Program;
•Dispatch services and equipment for the fire department;
•SCBA Compressor Block;
•Emergency generator for all fire stations; and,
•Phase two of Parlow Road construction which includes base only.”
Geraghty continued, “the total levy requirements for 2011 resulted in an amount of $4,721,453 for the township whereas the 2012 final budget requirements presented to council represent an amount of $4,975,065.”
“The residential tax rate for the township will decrease by 1.49 per cent, as a result of the final year of assessment phase-in.”
“The average 2012 assessment of $156,634 equates to a 2011 average assessment of $149,040.”
“A residential property with the average assessment change from 2011 to 2012 of 5.06 per cent will pay 50 cents more per week or a total of $25.87 in township taxes in 2012.”
“Township has maintained an overall good financial position with healthy reserves and insignificant debt,” he concluded, the “majority is being paid by benefitting landowners.”