On April 12, township council here will consider a 2011 budget that will include over $6.2-million in capital expenditures.
According to Finance Manager Mike Givens, the expected impact on the average residential property will be an increase of about 5.4% or $46 on their township tax bill (from $865 to $911), based on an average 2011 assessment of about $270,145.
For the average agricultural property valued at $488,525, township taxes will increase about 5.3% or $21, from $391 to $412.
All the above estimates are based on a recent draft budget only and council was expected to make some changes to that document. In fact, council met one last time this week to discuss the budget, but the results of that meeting were not known by press time.
Previous revenue figures provided at council’s last meeting in March included: provincial and federal grants of $1.6-million, utilization of over $860,000 of reserves and over $940,000 of reserve funds, and long-term debt (on a proposed 20-year debenture) of over $1.43-million.
Proposed capital expenditures include:
– $30,000 to provide streetlights and gas to the business park;
– $40,000 for various parks projects;
– $70,000 for electrical and roof repairs at the PMD Arena;
– $164,275 to complete the downtown revitalization project in Drayton;
– $306,000 for the purchase of more industrial land (financed through the debenture noted above);
– $421,325 to complete work at the new Alma community hall;
– $500,000 for the upgrading a bridge on Sideroad 17 between Concessions 3 and 4 (also likely to be part of the debenture);
– over $625,000 for the water metering project in Drayton and Moorefield (would proceed only if the township receives funding through the Ontario Small Waterworks Assistance Program);
– $870,000 for various roads projects, including on Sideroad 15, Concession 6, Sideroad 21, and Caroline Street in Moorefield; and
– over $1.8-million for the land purchase and expansion of a wastewater lagoon ($325,000 will come from the debenture and the rest will come from grants, reserves, and reserve funds).
The township currently has two other large, long-term debentures on the books: one for $1-million for the Drayton medical centre (annual payments of $91,000 to $95,000 until 2021), and another for $1.63-million for the Moorefield water and sewer project (annual payments of about $200,000 until 2015).
A copy of the final budget bylaw is now available at the township administration office on Sideroad 16, southeast of Drayton.
