Council will attempt to increase the proportion of Town revenue that is derived from sources other than property taxes.

Transcription

1

2 The Community Charter requires certain information to be presented as part of the Five Year Financial Plan. The following Section citations reference the Community Charter: 1) Portion of Funding from Revenue Sources (Section 165 (3.1) a) Table One (1) shows the proportion and value of the total revenue proposed to be raised from each funding source in Property value taxes form the greatest percentage of the revenue of the municipality. The property taxation system is relatively easy to administer and understand. It provides a stable and consistent source of revenue for many services that are difficult or undesirable to fund on a user-pay basis. These include services such as fire protection, police protection, bylaw enforcement, libraries and street-lighting. For these reasons, property value taxation will continue to be the major source of municipal revenue. User fees and charges form the second largest portion of planned revenue. Some municipal services, such as: water, sewer, and solid waste utilities; and, recreation, can be measured and charged for on a user-pay basis. This basis attempts to fairly apportion the value of a municipal service to those who make use of it. Table 1 Sources of Funds Category Value % of Total Property Taxes 1,258,810 40% Utility Fees 781,000 25% Grants 542,000 17% Sale of Services 482,190 15% Surplus Allocation 77,000 2% Total 3,141, % Objective Council will attempt to increase the proportion of Town revenue that is derived from sources other than property taxes. Page 1 of 9

3 Policy Council will begin to review the fees charged for various services to ensure that the users of the service are paying a fair portion of the operating and capital cost of the service; Council will supplement infrastructure expenditures by aggressively pursuing federal and provincial grants; and, Council will encourage staff to develop new revenue sources. 2) Distribution of Property Value Taxes (Section 165 (3.1) (b)) The Town of Port McNeill determines the current tax rate for each property class by first adjusting the prior year s tax rate by the BC Assessment generated statistic for Change in Property Assessment Market Value for that property classification. The adjusted tax rate is then increased or decreased by the percentage tax increase that Council has set for the current Financial Year. By providing this consistency, taxpayers in the various classes have stability and confidence in knowing how their future tax bills will be calculated. Table Two (2) shows the current property tax revenues of each classification: Table 2 Property Classification 2015 Assessed Values 2015 Levy % of Total Residential 159,321, ,020 66% Utility 69, % Light Industry 1 5,031, ,638 8% Light Industry 2 8,187, ,152 2% Major Industry 2,848, ,314 1% Business 28,057, ,870 20% Managed Forest 1 1,154, ,971 2% Managed Forest 2 851, % Recreation Non-profit 84, % Total 202,962, ,258, % Page 2 of 9

4 Objective Council will encourage economic development by minimizing tax increases. Policy Council will review user fees to ensure that they are appropriate; Council will rely primarily on new development and grant opportunities to fund infrastructure and new amenities; and, Council will encourage economic development by providing the stability of using a consistent methodology for calculating property tax levies. 3) Use of Permissive Tax Exemptions (Section 165 (3.1) (c)) Each year the Town of Port McNeill approves partial or full permissive tax exemptions for properties within the community. Objectives Council will continue to provide permissive tax exemptions. Policy Permissive tax exemptions will be considered in conjunction with: a. The value of other assistance being provided by the Community; and, b. The amount of revenue that the Town will lose if the exemption is granted. Table Three (3) shows the properties which received partial or full permissive tax exemptions for The approximate amount of Municipal Tax exempted was $47,000 Page 3 of 9

5 Table 3 PROPERTY Class Land Value Building Value Exempt by Statue Exempt by Bylaw TAX INCOME FOREGONE Bishop of Victoria 8 88,500 80, ,200 1, Broughton Curling Club 6 59, ,000 10, ,500 15, Broughton Strait Campground 6 7,500 27,300 10,000 24, ,000 2, Church of Jesus Christ of Latter-day Saints 8 147, , ,400 3, Full Gospel Church 8 51, , ,500 3, Guide / Scout Hall 8 97, , ,900 2, North Island Community Services Society (Thrift Store) 6 71,400 55,500 10, ,900 2, Port McNeill Baptist Church 8 88, , ,100 3, Port McNeill Jehovah's Witnesses 8 54, , ,500 1, Port McNeill Lions Club 8 114, , ,000 3, Royal Canadian Legion Branch ,500 88,300 10, ,800 2, United Church of Canada 8 110, , ,800 3, TOTALS 946,600 2,338,800 40,000 3,388,400 $46, Page 4 of 9

6 4) Proposed Expenditures (Section 165(4) (a)) Table Four (4) shows the proposed expenditures for the current year by Fund: Table 4 Proposed Expenditures Fund Value % of Total Operating 2,355, % Water 269, % Sewer 294, % Solid Waste 180, % Transfer to Reserves 5, % Total 3,103, % 5) Proposed Funding Sources (Section 165(4)(b) & Section 165(7)(a-e)) Table Five (5) shows the proposed funding sources for the current year: Table 5 Sources of Funds Category Value % of Total Property Taxes 1,258,810 38% Utility Fees 781,000 24% Grants 542,000 16% Sale of Services 635,190 19% Surplus Allocation 77,000 2% Total 3,294, % 6) Proposed Transfers Between Funds (Section 165(4) (c)) Nil 7) Amount Required to Pay Interest & Principal on Municipal Debt (Section (165(6) (a)) Page 5 of 9

7 The amount required to pay the interest and principal on municipal debt is approximately $286,000. 8) Amount Required for Capital Purposes (Section 165(6) (b)) Capital Works & Major Purchases Table Six (6) shows the 2015 Capital Work and Major Purchases: Table 6 Description Budget Repaint Road Centre Lines 9,000 Upgrade Pump at Sewer Station 5,000 Replace curbside garbage cans 10,000 Replace street lights (Camosun) 10,000 Complete alder removal on Beach Drive 5,000 Repair electrical mast at Old School 3,000 Clean out Drainage cross ditch at public works 5,000 Public Works Vehicle Reserve 75,000 Replace pilings in harbour 25,000 Replace boat launch floats 20,000 Re-roof Fire Hall (metal) 50,000 Replace fascia at Fire Hall with metal cladding 60,000 Roofing Survey 9,000 Building Lifespan Survey 20,000 Harbour Safety Repairs 20,000 Accessibility Project (grant funded) 50,000 Total 376,000 9) The Amount Required for a Deficiency (Section 165(6 (c)) & Section (165(9)) Nil 10) The Amount Required for Other Municipal Purposes (Section 165(6) (d)) Nil Page 6 of 9

8 11) Proposed Transfers of Reserves (Section 165(8) (a)) The amount being transferred to reserves is $5, ) Proposed Transfers of Accumulated Surplus (Section 165(8) (b)) Nil 13) General Operating Fund Budget Table Seven shows the Operating Fund Budget Revenues. Table 7 Revenues 2015 Budget 2016 Budget 2017 Budget 2018 Budget 2019 Budget Corporate Revenue 2,000 2,000 2,000 2,000 2,000 Harbour Revenue 380, , , , ,000 Facility Rental 55,000 55,000 55,000 55,000 55,000 Pool Revenue 42,000 42,000 42,000 42,000 42,000 Campground Revenue 42,000 42,000 42,000 42,000 42,000 Airport Revenue 4,000 4,000 4,000 4,000 4,000 Cemetery Revenue 1,000 1,000 1,000 1,000 1,000 License & Permit Revenue 20,000 20,000 20,000 20,000 20,000 Public Works Revenue 6,000 6,000 6,000 6,000 6,000 Fiscal Revenues 38,000 38,000 38,000 38,000 38,000 Grants 389, , , , ,000 Payments in Lieu of Taxes 46,000 46,000 46,000 46,000 46,000 Tax Revenues 1,234,000 1,258,000 1,258,000 1,258,000 1,258,000 Proposed 2 % Tax Increase 24, Surplus Allocation 77,000 Subtotal 2,360,000 2,293,000 2,303,000 2,313,000 2,313,000 Page 7 of 9

9 Table Eight shows the Operating Fund Budget Expenditures. Table 8 Expenses 2015 Budget 2016 Budget 2017 Budget 2018 Budget 2019 Budget Governance 71,000 71,000 72,000 72,000 73,000 Grants in Aid 48,000 48,000 48,000 48,000 48,000 Corporate Adminstration 360, , , , ,000 Protective Services - Fire 98, , , , ,000 Protective Services ESS/PEP 8,000 4,000 4,000 5,000 5,000 Cemetery 1,000 1,000 1,000 1,000 1,000 Health Unit 1,000 1,000 1,000 1,000 1,000 Bylaw Enforcement 30,000 30,000 30,000 30,000 30, , , , , ,000 Public Works PW General 269, , , , ,000 PW Yard 8,000 8,000 9,000 9,000 10,000 PW Vehicles 40,000 41,000 42,000 43,000 44,000 PW Parks 25,000 25,000 26,000 26,000 27,000 PW Roads 119, , , , , , , , , ,000 Harbour Municipal 172, , , , ,000 Federal 160, , , , ,000 Other 6,000 6,000 7,000 7,000 7, , , , , ,000 Recreation & Cultural Services Pool 140, , , , ,000 Community Hall 19,000 19,000 20,000 20,000 20,000 Old School 82,000 82,000 82,000 83,000 84,000 Library 93,000 94,000 95,000 96,000 97,000 Museum 24,000 24,000 25,000 26,000 26,000 Campground 41,000 41,000 42,000 43,000 43,000 Visitor Centre 20,000 21,000 22,000 23,000 24,000 Special Events - Subtotal 419, , , , ,000 Airport 10,000 10,000 10,000 10,000 10,000 Fiscal Expenditures 134, , , , ,000 Capital Expenditures 376, , , , ,000 Transfer to Reserves 5,000 5,000 5,000 5,000 5,000 2,360,000 2,293,000 2,303,000 2,313,000 2,313,000 Surplus (Deficit) Page 8 of 9

10 14) Utility Fund Revenue & Expenditure Budgets Table Nine shows the Utility Operating Fund proposed budgets. Table 9 Utilties 2015 Budget 2016 Budget 2017 Budget 2018 Budget 2019 Budget Water Revenue 273, , , , ,000 Federal Gas Tax Grant 153, , , , , , , , , ,000 Expenditure 269, , , , , , , , , ,000 Sewer Utilty Revenue 353, , , , ,000 Expenditure 294, , , , ,000 59,000 59,000 59,000 59,000 59,000 Solid Waste Revenue 155, , , , ,000 Expenditure 180, , , , ,000 (25,000) (17,000) (9,000) (1,000) 7,000 Page 9 of 9