Town of Wolfville Approves 2009-10 Budget
Town of Wolfville News Release
Tuesday June 23, 2009
At a Special Council Meeting Monday June 22 Council approved a Residential Tax Rate of $1.40. and a Commercial Tax rate of $3.49 The Residential rate is down 1 cent from the previous year while the Commercial rate increases 8 cents.
As a result of the 1.40 rate, most residential tax payers will have an increase in taxes of 2.7% over the previous year.
The increase in the Commercial Tax rate of 8 cents offsets the further loss of Business Occupancy Assessment. The Commercial Tax burden, other than the transfer due to Business Occupancy Tax, has not increased.
The operating budget for 2009-10 totals $7,091,487.00. This is just slightly higher than the previous year’s budget of $7,081,967.00. Council is pleased that funds of $16,000.00 are now included for the Wolfville School Playground project this year. This will serve as the first of two equal instalments, with the balance to be paid in the next fiscal year.
Council is also pleased to make a commitment to provide funding to the Valley Regional Health Hospital/Hospice project in the amount of $114,533. Mayor Stead noted “that by supporting this request Council’s decision reflects a sense of community of which we can be proud.”
Council has furthermore approved a capital budget of $1,697,265.00.
Major projects in this area include the completion of the final phase of the Sherwood Drive Street reconstruction project: $420,000.00, Downtown Main Street and Central Avenue Streetscape Projects: $220,000.00 and Rotary Field upgrades: $100,000.00. Although there are funds allocated for planning and engineering this year, the actual work involving the upgrade of Front Street has been deferred to 2010-11.
2009-10 Town of Wolfville Budget (551.78 kB)
Previous Years' Budgets
Financial Statements 2008-09
The financial statements for the fiscal year ended March 31, 2009 have been released.
2008-09 Town of Wolfville Financial Statements (911.73 kB)
Previous Years' Financial Statements
|
