Wellington North residents can expect a 4.04 per cent increase in taxes this year after council hosted a public session on a draft budget on March 5.
About 25 people attended the evening session as treasurer Mike Givens presented his first budget since being hired by the township in mid-2012.
The draft budget will see council reduce debt, put more money in reserves and hold the line on department budgets with an almost two per cent cut across the board.
Council will raise slightly more than $6 million for its budget with about $3.6 earmarked for capital expenditures.
On a home assessed at $213,120, the increase will mean about $20 more in taxes for the year for the township portion. On the same home when calculations for township, county and education are figured in, the increase will be almost $19 with a blended increase of almost 2%.
Of the total taxes collected, 44% goes to Wellington County, 36% to Wellington North and 20% to education.
Givens credited council with taking measures to reduce township debt, reducing department operating budgets and put more money in reserves.
“(In) 2013 we don’t want it to be a slowdown year,” Given said. “Staff and council have made strides when it comes to the budget and I’m here to continue that. (We want to) focus dollars towards capital projects and reserves.”
Among some of the heftier capital items is the purchase of new tanker trucks for the fire stations in Arthur and Mount Forest at around $220,000 each. The money will be taken out of reserves. Council is also planning to purchase a new plow truck at $240,000 with $220,000 coming from general revenue and a $20,000 trade-in. Another $200,000 will be spent on upgrades at the Arthur sewage treatment plant.
Among the roads projects pegged for this year, the township will spend $210,000 on resurfacing work on Concession 11, from Sideroad 7 to Farewell; $260,000 for work on bridge 2 on Concession 6; urban top coating of streets will come in at about $185,000; and $475,000 for work on Waterloo Street (Cork to Dublin).
The treasurer is estimating the township will have about $5.5 million in reserve funds by year-end.
On the debt side, the treasurer is estimating debt will be about $8.6 million, with $5 million attributed to recreation and the new Sports complex in Mount Forest. About $1.25 million will be paid out for annual principle and interest.
“There is still debt that exists in Wellington North,” Givens said. “We’re not proposing there be any additional debt in 2013. We’re hoping to stick to that.”
Councillor Andy Lennox, chairman of the township’s finance committee, said he is pleased with the budget and additional money going to reserves and debt reduction.
“We managed to hold the line on our operating budget,” he said. “I’m glad to see us making some progress.”
Added Mayor Ray Tout, “I’m proud to see our reserve balances. We are heading in the right direction.”
Lennox expects the budget will be approved by council on March 25 without substantial changes.
