Mapleton reserves, funds now over $3.75-million

The totals will change, particularly after the 2008 budget is passed, but as of the end of last year, the township reported over $3.75-million in reserves and reserve funds.
Reserve funds – generated primarily from development char­ges, federal gas tax mon­ies, and lifecycle contributions for water and sewer – make up just over half of that total, at $1,927,606.
That figure is up 21% from year-end 2006, when reserve funds totalled just under $1.6-million.
The Development Charges  Act states that every township must report reserve fund balan­ces to the Ministry of Muni­cipal Affairs and Housing.
Township reserves – which are earmarked for specific purposes, including the fire de­partment, transportation, ad­min­istration, and parks and recreation – total $1,832,295.
That is down 6% from the end of 2006. And, as noted by Director of Finance Mike Givens at council’s last meeting, the 2007 total is down 26% from 2005.