Council here is on track to keep its 2012 budget to a three per cent increase.
Council received the good News from treasurer Gord Duff at its meeting Feb. 22.
“The amount of the 2012 Ontario Municipal Partnership Fund allocation has been received and I am happy to report that it is $62,300 more than the 2011 base amount,” Duff said in a report. He later told the Advertiser the town is expected to receive $1,354,300 with the increase.
The town is also benefitting from the mild winter.
“The relatively snow-free winter to date in 2012 has allowed the budgeted cost for winter control to be revised downwards,” Duff said. “Other minor adjustments to Clifford arena operating budget forecasts and other areas have helped reduce several cost estimates. However, higher forecasts for fuel and small upgrades to other facilities added to cost pressures.”
Duff is anticipating a surplus, but declined to disclose how much the town might realize until final figures are in.
“Initial forecasts for final 2011 results indicate a surplus which will be used to reduce the levy for 2012,” he said.
In 2011 the town budget was $10,164,000, including water and sewer operations and reserve transfers.
“The budget includes wage adjustments as per the municipal pay administration policy,” Duff said. “This policy provides that a cost of living increase as of the preceding October CPI [Consumer Price Index], 2.9%, be applied to the wage grid and that grid movements be approved by council upon completion of a successful performance review.”
“Several critical elements of the capital budget are still under investigation, although council’s direction, supported by staff, is not to borrow any funds for 2012 based on information available. The net operating budget is expected to be similar to that of 2011 with any increase in the tax levy going exclusively to finance capital projects,” Duff said.
“At the March 6 budget meeting, council will have to set priorities in the capital budget as the projects listed in the draft budget Dec. 22 cannot all be accommodated with a reasonable tax increase. Staff will provide some ideas to council on paring down the capital budget in a submission prior to the March 6 meeting,” he said.
“The county levy increase has been set at 1.9% and Minto intends to meet the objective of an overall 3% increase to an average residential taxpayer. At this point, we must refrain from making final statements on the exact tax rate increase as the County of Wellington still needs to approve various tax policies, ratios and capping parameters which could have an effect on tax rates of the Town of Minto,” Duff said.
After March 6 council will have a clear direction staff can implement, including tendering capital projects. Once the county officially adopts the ratios and policies for 2012, the town’s tax rate bylaw will be ready.
