After considerable discussion, Puslinch has adopted its 2012 budget.
In a recorded vote, councillors unanimously approved the 2012 operating and capital budgets on March 7 in what township officials describe as a modest 2.21% tax increase.
Expenditures total $5,630,071 with $2,617,309 in revenues – leaving roughly $3,012,762 to be raised through taxation.
“Taking into account the County of Wellington’s 2012 approved budget and tentative education tax rates set by the province, the blended tax impact for a Puslinch residence valued at $434,000 is 2.16% or $97 annually,” said Mayor Dennis Lever.
That would shift the overall tax bill from $4,500 to $4,597. Of that, only $17, or 17% of that increase, is connected directly to the township portion of the tax bill.
2012 budget highlights
Capital expenditures are set at $1,484,900.
Roughly $1 million will be spent on road projects in the coming year, including:
– over $400,000 on the Cooks Mill bridge, culvert and roadway;
– $250,000 for a new plow truck; and
– $200,000 in reserves for future projects and equipment.
In addition, $120,000 is in the 2012 budget to provide new accessible washrooms and storage at the Puslinch Community Centre.
“Puslinch council worked well together to pass a budget that addresses key priorities and stays focused on fiscal sustainability,” said Lever.
“We have also set up equipment reserve accounts in both our roads and fire and rescue departments. This will allow council to better manage future costs in these areas.”
Lever explained the figure used for calculating the tax increase was an average of residential assessment divided by the number of households in Puslinch. Those figures were provided by the Municipal Property Assessment Corporation.
“That total assessment grew by 6% over the past year,” said Lever.
He noted many properties with a phased-in assessment might experience a lower increase. “If the phased-in assessment was more than 6%, their increase will be larger.”
Actual spending in 2011 ($4,131,547) was considerably less than last year’s budget of $4,823,950.
This year’s total budget marks an $806,121 increase (17%) over the 2011 budget, and a $1,498,525 increase (36%) over last year’s actual spending.
More information, including the budget and bylaw, can be found at www.puslinch.ca.
