The Township of Centre Wellington has approved its 2014 capital budget.
The document was endorsed by the budget committee in early December, but ratified by council on Dec. 16.
According to a press release from managing director of corporate services Wes Snarr, “The 2014 capital budget is a continuation of the corporation’s strategic commitment to: funding, infrastructure, growth strategy, lifestyle services, communications and human capital in the Township of Centre Wellington.”
The $11,916,000 capital budget involves significant expenditure in the acquisition, construction or improvements in land, buildings, engineering structures, or machinery and equipment used to provide municipal services with a benefit lasting beyond one year.
The budget also includes one-time project costs in excess of $5,000 that may be operating in nature, such as maintenance items or studies that would cause significant fluctuations in the tax rate if they were included in the operating budget.
The benefit to the approval of the 2014 capital budget before the end of 2013 is the ability to begin the tender process in the first quarter of the year potentially realizing more competitive pricing for projects, the press release states.
Township CAO Andy Goldie, as well as township managing directors, spent a significant amount of time prioritizing capital projects for a 10-year capital forecast with particular attention paid to years 2015 and 2016.
