Township of Selwyn Tax Levy Impact Summary $ % Gross Tax Levy Increase $247,166 4.09% Net Tax Levy Increase $181,077 3.00%



Similar documents
City of Pitt Meadows. Taxation - Townhall Meeting February 19, 2015

FY 2015 Tax Levy by Function

f) That expenditures associated with employee insurance & benefits be increased by $319,000;

TOWN OF LAKE COWICHAN. A Bylaw respecting the Financial Plan for the Town of Lake Cowichan

Service Delivery Review Final Report

Appendix D: 2015 Program & Service Budget

Strategic Plan Where our past guides the future

DISTRICT OF NORTH VANCOUVER GUIDE TO FINANCIAL STATEMENTS

Financial Statement Guide. A Guide to Local Government Financial Statements

Town of Clinton Budget Recommendations

Policies & Procedures

Ingersoll Long Range Financial Plan (LRFP) Facilitated Session. Purpose of Session. Introduction to Long Range Financial Plan

The calculation of prudent reserve targets shall include consideration of the following factors:

Executive Summary. Model Structure. General Economic Environment and Assumptions

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

YOUR TAX DOLLAR. Here s a quick overview of where that money went and how it was raised.

TOWN OF VIEW ROYAL BYLAW NO. 862

Budget and Business Plan Glossary GLOSSARY

Report to KPMG re: Core Services Review. June 2015

GENERAL FUND. FY14 General Fund Revenues/Financing Sources TOTAL APPROVED = $339,071,600. Property Taxes $201,088, % REVENUE BREAKDOWN

CITY OF BARRIE 2016 OPERATING BUDGET EXPENDITURES

FIVE YEAR FINANCIAL PLAN BYLAW, 2015 BYLAW NO

2016 Financial Plan Summary 25/03/ :45 AM

City of Kamloops FINANCIAL PLAN - DRAFT

Your. Tax Dollar. Here s a quick overview of where your Tax Dollar went and how it was raised in the Fiscal year ended March 31, 2012

MUNICIPAL ASSET MANAGEMENT & FINANCIAL PLANNING A CASE STUDY: THE TOWNSHIP OF SCUGOG

Province of Newfoundland and Labrador. Public Accounts. Volume I. Consolidated Summary Financial Statements. For The Year Ended 31 March 2004

Five Year Financial Plan

The Corporation of the City of Nelson

Vicken municipality - $1.2 Billion Dollar Tax Rebate

A Quick Guide to Municipal Financial Statements MUNICIPAL AFFAIRS

PARKLAND COUNTY CONSOLIDATED FINANCIAL STATEMENTS

GENERAL FUND AND PUBLIC SAFETY FUND PROJECTION

Town of Mattawa Asset Management Plan. December 2013

Working Together to Create a Great City With a Heart

Course Objectives. What are Property Taxes? 2/14/2012. Tax Settlements

Mission, Vision and Values

City of Pitt Meadows 2015 Utilities Financial Plan December 11, 2014

Program: Facilities and Construction Management. Program Based Budget Facilities and Construction Management. Page 81

Presentation to Common Council July 29, 2014 City Finance Department

PROPERTY TAX RELIEF FUND STATE AID

CITY OF COLEMAN, TEXAS FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR'S REPORT SEPTEMBER 30, 2014

COUNCIL/COMMITTEE OF THE WHOLE MEETING MINUTES 7:00 PM March 3, 2009 Council Chambers

Multiple Means of Funding and a Project Management Plan in Italy

Consolidated financial statements of. The Corporation of the City of Burlington

FINANCIAL PLAN

STRATEGIC FINANCIAL PLAN 2007 to 2010

Township of T Tay Energy Conservation and Demand Management Plan July 1, 2014 to June 30, 2019

Quarterly Budget Report

BUDGET PRESENTATION. The Finance Department is proud to publish and disseminate budget information to the Board of Trustees and to our community.

Staffing and Compensation Plan

ASSET MANAGEMENT PLAN

CITY OF PRINCE RUPERT 2014 FIVE YEAR FINANCIAL PLAN BYLAW NO. 3345, 2014

City of Chula Vista. Fiscal Year Proposed Budget Overview. May 9 and 18, 2016

Department Engineering & Public Works - Budget For City Utilities

State of New Jersey Local Government Services

State of New Jersey Local Government Services

Solid Waste Excise Tax MAY 11, 2015

The Corporation of the Township of Malahide BUDGET COMMITTEE. January 26, :00 p.m.

State of New Jersey Local Government Services

2014 Business Plan & Budget

CORPORATION OF THE CITY OF ELLIOT LAKE

2012 Census of Governments: Finance State and Local Government Summary Report

Appendix B5: Budget Outcome and Summary of Variations

Ontario Works Directives

Your Montgomery Taxes

City of Minneapolis 2014 Budget. Financial Plans

City of Peterborough s Corporate Energy Management Plan

Core Services Review: The Good, The Bad and the Ugly

CITY OF SAN JOSE PROPOSED OPERATING BUDGET FUND DESCRIPTIONS

PROPOSED CORPORATE BUSINESS PLAN

Budget Process. Budget Calendar. The City s fiscal year is July 1 through June 30.

How To Improve Your Fleet Maintenance

TOWN OF MONSON - CERTIFICATION OF APPROPRIATIONS. Voters in Attendance Prec. A 126 Prec. B 153 Prec. C 163 Total: 442

2016 Levy & Budget Adoption Meeting VICTORIA CITY COUNCIL DECEMBER 14, 2015

Tax Levies Explained: Julie Joyce-Smith, Real Estate Manager, Butler County Auditor s Office April 8, 2015

Capital Budget & Plan Corporate Report. City of Toronto


State of New Jersey Local Government Services

2011 BUDGET PRESENTATION

TOWN OF READFIELD. 8 OLD KENTS HILL ROAD READFIELD, MAINE Tel. (207) Fax (207)

LEGISLATIVE SERVICES AGENCY OFFICE OF FISCAL AND MANAGEMENT ANALYSIS 301 State House (317)

Detroit, MI, City of (MI)

VARIOUS PURPOSE FUND SUMMARY

MIDDLESEX LONDON EMERGENCY MEDICAL SERVICES AUTHORITY

Property Type. Minnesota Property Tax Class Rates Payable in 2010

BUSINESS EXPENSES AND DEDUCTIONS

Quarterly Financial Results Report

Business Plan: Energy Conservation

County Administrator s FY 2016 Recommended Budget

Created by the Province in the mid 1960 s to meet local & regional needs that could not be addressed by municipalities or province itself The Alberni

Working Document Committee of the Whole March 25, 2014

Province of Newfoundland and Labrador. Public Accounts Volume I Consolidated Summary Financial Statements

The primary focus of state and local government is to provide basic services,

CITY OF STANFIELD OREGON Adopted Budget for Fiscal Year 2015/16

2014 ASSET MANAGEMENT PLAN Building, Stormwater & Linear Transportation

TABLE OF CONTENTS SECTION 1 - OBJECTIVES AND GUIDING PRINCIPLES... 2 SECTION 2 - OPERATING AND CAPITAL RESERVE FUNDS... 3

APPENDIX C: GLOSSARY Accrued Benefit Obligation: Accrued Benefit Liability: Accrual Accounting: Accumulated amortization: Accumulated surplus:

Municipal Accounting Manual

ROCKINGHAM COUNTY SALARY PAY PLAN EFFECTIVE - January 1, 2012

Transcription:

Tax Levy Impact Summary $ % Amounts Increase Taxation requirement - 2015 $6,283,725 Taxation requirement - 2014 ($6,036,559) Gross Tax Levy Increase $247,166 4.09% Less: Adjustment for Real Assessment Growth ($66,089) Net Tax Levy Increase $181,077 3.00% OPP Area Rate requirement - 2015 $2,184,466 OPP Area Rate requirement - 2014 ($2,184,466) O.P.P. Area Rate Increase $0 0.00% Lakefield Policing Area Rate requirement - 2015 $922,809 Lakefield Policing Area Rate requirement - 2014 ($922,809) Lakefield Policing Area Rate Increase $0 0.00%

Analysis of Tax Increases - Summary (high level) IFT from Taxation proposed net tax levy increase for 2015 $181,077 Economic Wage $86,459 Includes impact of economic wage increases across all departments, including impacts of employer costs on economic wage increases (except WSIB see below). Increased Employer Costs - WSIB $18,250 Includes impacts across all departments for significant premium rate increase. New/Increased Expenses $14,130 Reflects increases in ORCA levy & new expenses for source water protection. Economic Development Committee $5,640 Include expenses specific to new Standing Committee of Council included in base budget supported by taxation. Winter Control - Operating Deficit $28,000 Continued phase-in of increased support from taxation for winter control operations. Decreased Landfill Tipping Fees - Offset thru Taxation $36,884 Continued phase-in of increased support from taxation for waste management. Year One Tax Impact - OMPF Operations Phase Out $57,803 Start of annual impact over four years to phase out operational reliance on unconditional provincial grant. Total Gross Increases on Tax Levy $247,166 Real Assessment Growth from Year End Roll ($66,089) Net Tax Levy Increase $181,077

Analysis of Tax Increase - General Government IFT from Taxation proposed net tax levy increase for 2015 $92,500 Impact of No OMPF Transfer 46,000 Base amount of original CRF funding from province. Previously offset by IFT from OMPF. Increased Estimate for Supplementary Taxation -10,000 Increased annual forecast related to omitted/supplementary assessment. Increased Wage expenses 46,500 Includes economic wage increases and related payroll expenses, including WSIB premium rate increase. Net Impact of IFT Changes/Savings/Increases across dept. 10,000 Combination of numerous interest increases, transfer increases/decreases and small administrative amounts across cost centers. Total Department Taxation Impact 92,500

Analysis of Tax Increase - Economic Development IFT from Taxation proposed net tax levy increase for 2015 $5,640 With the establishment of a new standing committee of Council the related committee expenses are no longer ad hoc expenses funded by OMPF. Economic Development Committee $5,640 Include expenses specific to new Standing Committee in base budget supported by taxation. Total Department Taxation Impact $5,640

Analysis of Tax Increase - Fire Service IFT from Taxation proposed net tax levy increase for 2015 $14,450 Decrease Projected in Insurance Reimbursement $14,500 reflects trend over past year, reduced payments from insurance companies Offset of One time Officer Training ($8,800) Transfer from General Government reserve to offset initial training program. Increased Wages/Training Costs $24,000 Includes economic wage increases and related payroll expenses.(wsib) Also includes increases in required training costs and new SCBA fit/familiarization. Reduced Operating Expenses across department ($15,250) reduced operating expenses in numerous administrative accounts and specifically in costs related to vehicles and equipment. Total Department Taxation Impact $14,450

Analysis of Tax Increase - Otonabee Conservation (ORCA) IFT from Taxation proposed net tax levy increase for 2015 $6,130 An overall levy increase of $33,110 was approved by the ORCA Board and is passed along to the various members of ORCA's watershed. This is the share of the increase apportioned to Selwyn. Increase in Operating Levy $6,130 Represents Township share of overall levy increase.

Analysis of Tax Increase - Protective Inspection & Enforcement (Building Department) IFT from Taxation proposed net tax levy increase for 2015 $8,000 The majority of the Building Department expenses are funded through permit fees. Costs related to Small Animal Control, By-law Enforcement, Heritage Committee and 911 sign placement are funded by taxation. In 2015, taxation is also funding the Township's share of increased expenses for source water protection obligations. Source Water Protection $8,000 Reflects final year of the three (3) year phase-in for increased expenses related to Risk Management Officer partnership with other watershed stakeholders.

Analysis of Tax Increase - Transportation Services (Roads) IFT from Taxation proposed net tax levy increase for 2015 $33,000 Wages for the Public Works staff are allocated across a number of cost centers. As a result the economic wage increase is included in the maintenance and construction areas below. Brushing operation expenses and winter control activities are inter-related and impacted by winter conditions. Use of Increased Operating Receipts ($14,000) Use of specific operating receipts to mitigate decreased accumulated revenue available in 2015. Increased Insurance and Building Utility Costs $16,000 Increases in premium specific to public works and increases in building hydro and heating costs. Increased Maintenance Costs (net) $6,000 Includes plus/minus expense changes between general maintenance on gravel and surfaced roads. Decreased AMO Gas Tax Revenues/Levy for Construction $25,000 Net impact of decreased AMO gas tax revenues and increased activity using own forces on roads construction activity. Total Department Taxation Impact $33,000

Analysis of Tax Increase - Waste Management (Landfill) IFT from Taxation proposed net tax levy increase for 2015 $37,000 Reduced Revenues $30,000 Declining tipping fee revenues continues to impact the budget. IFT from Reserve $5,000 Reduced IFT from Reserve in comparison to 2014 to reflect ongoing phase in of additional tax support for landfill site. Increased Collection Costs $8,500 Forecast of increased curbside collection costs - in year - new contract. Increased Wage expenses $8,500 Includes economic wage increases and payroll related increases (WSIB). Various Operational Savings (net) ($15,000) Savings in landfill site monitoring and equipment costs to maintain site operations activity. Diligent savings effort to help offset decreased tipping revenues. Total Department Taxation Impact $37,000

Analysis of Tax Decrease - Arenas IFT from Taxation proposed net tax levy increase for 2015 $1,450 Tax supported subsidy that equates to the difference between the minor sports rate and the prime time rate. As well, this subsidy will continue to include an annual transfer to reserve to fund the replacement of ice resurfacers at each arena. Increase in Primetime Subsidy - Lakefield-Smith Community Centre $600 To fund rate differential noted above. Increase reflects increase in rates. Increase in Primetime Subsidy - Ennismore Arena $850 To fund rate differential noted above. Increase reflects increase in rates. Total Department Taxation Impact 1,450

Analysis of Tax Increase - Library Services IFT from Taxation proposed net tax levy increase for 2015 $6,500 Reserve to Offset Succession Mgmt. ($5,000) Costs related to retirement of Librarian related to wages overlap and retirement benefit - funded from General government reserve. Increase in Salaries and Wages $11,500 Reflects full year impact of changes in new staffing set up and economic wage adjustments for all library staff. Total Impact on Taxation $6,500

Gross Expenditures 2015 (by department) Parks&Rec Waste Library Gen. Gov't Prop&Fac Roads ORCA Bldg&Plan Fire Police

Gross Expenditures 2015 (Summary by Cost Center) Rec.& Library General Govt Waste Facilities Roads Protection

Net Funding Requirement (by cost center) 4,250,000 4,000,000 3,750,000 3,500,000 3,250,000 3,000,000 2,750,000 2,500,000 2,250,000 2,000,000 1,750,000 1,500,000 1,250,000 1,000,000 750,000 500,000 250,000 0 Gen. Gov't.& Facilities Protection (incl.police) Transportation Waste Rec.&Culture Net Levy 2014 Levy Increase 2015

Selwyn Revenues Debt 6% Transfers 5% Grants 10% Reserves & Reserve Funds 16% Operating Receipts & User Fees 15% Taxation & Area Rates 49%