The Town’s Budget Process is Underway!

Presentation1 Page 1The 2018/19 Budget Process began on November 7, 2017 with a goal of approving a balanced budget on March 20, 2018 at the regularly scheduled Town Council meeting.  We will keep this page updated with information and key decisions following Committee of the Whole and Town Council meetings from now until March 20, 2018.

Join us in person or on Facebook Live for our Committee of the Whole and Town Council meetings to learn more about the Town’s Operating and Capital Budgets. Click here for dates and times!

Use the menu below to navigate each meeting, view agenda packages, presentations and key changes. 

November 7, 2017, Committee of the Whole

January 16, 2018, Special Committee of the Whole

February 6, 2018, Committee of the Whole

March 6, 2018, Committee of the Whole

March 20, 2018, Town Council 

November 7, 2017, Committee of the Whole

The following information was presented for discussion (view the presentation here):

Taxable Assessments

Residential

  • preliminary PVSC data will not be available until December
  • new construction, average market value increase, impact of CAP not yet available
  • CAP % not available, currently estimate 1.2% – 1.5% (previous year was 1.4%)

Commercial

  • Preliminary PVSC data not available until December

Inflation/Cost of Living Adjustment (COLA)/CPI

  • As noted for assessments, provincial CAPPED Assessment Program tied to October over October comparison (expected to = 1.4%)
  • Average COLA change to end of September = 1.2%

Provincial Financial Indicators (selected highlights).

  • Residential Tax Effort, maintained rank 18th out of 27 Towns (2015/16 data)
  • Debt Service ratio 5.9% – 9th best in province (’15/16 data)
  • 5 Year Capital Purchases – 4th best provincial rank
  • 5 Year Transfer to Capital Reserves – top rank

Capital Budget Information

The draft Capital Investment Plan (CIP) and related Project Charters can be viewed in the November 7, 2017 Committee of the Whole agenda package.

The first draft of the CIP presented to Council included the following projects in Year 1 (2018/19):

  • Community Development & Public Works Building Fire Safety and Accessibility Ugrades
  • Fire Pumper Truck Replacement
  • Gaspereau Avenue Storm
  • Kent Avenue (Main to Queen)
  • Shoreline Protection
  • East End Gateway Design
  • Evangeline Park
  • Nature Preserve Dam - engineering
  • Tennis Court Resurfacing

Not included in the list above is general equipment/upgrades and engineering costs that are consistent year over year.

No formal motion is made at this stage. Staff is seeking consensus from members of Council on overall budget goals for the 2018/19 Operating and Capital Budgets (Town and Water Utility).

Operating Budget

Council's direction to staff as they prepare the first draft of the Operating Budget is keep any tax increase within the Cost of Living (i.e. hold the tax rate).

Meeting Agends, Audio and Minutes can be found here.

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