Budget and Finance

Council approves the Township of Springwater's budget on an annual basis. The capital budget covers building and rebuilding things such as roads, municipal facilities, or buying new vehicles. The operating budget covers the daily expenses of delivering municipal services, such as salaries and wages, supplies and energy costs.

2021 Budget

The 2021 Budget was approved by Council on December 16, 2020. Watch the final budget discussion for more information.

Tax Change

Springwater Council approved the 2021 Budget with a 0% tax increase over 2020 rates.

When combined with the County of Simcoe approved budget with a zero percent increase and the education rate which is expected to remain neutral, residents will not see a tax rate increase on their 2021 tax bill.

For every tax dollar spent:

$0.48 is retained by the Township of Springwater*
$0.33 goes to the County of Simcoe
$0.19 goes towards Education

*includes Policing

Tax Impact

For an average home in Springwater assessed at $485,046, the approved blended rate amounts to an annual increase of $0.00 over 2020 levels.

Budget Breakdown

The Township’s budget totals $44.4 million:

$21.3 million in operating expenses
$18.6 million in capital expenditures
$2.8 million in water operations
$1.7 million for wastewater operations

Budget Deliberations

Date	Documents	Video Stream
Wednesday, November 18 at 6:30 p.m.	Tabling of Draft 2021 Budget Presentation	View Meeting
Monday, November 23 at 6:00 p.m.	Springwater Library Presentation NVCA Presentation SSEA Presentation	View Meeting
Wednesday, November 25 at 3:00 p.m.	Budget Overview Presentation	View Meeting
Monday, November 30 at 4:00 p.m.	Budget Overview Presentation	View Meeting
Monday, December 7 at 6:00 p.m.	Budget Overview Presentation	View Meeting
Wednesday, December 9 at 10 a.m.	Budget Overview Presentation	View Meeting
Wednesday, December 16 at 6:30 p.m.	Staff Report (Budget Approval)	View Meeting

Supporting plans

The Long Range Financial Plan guides growth management and financial sustainability over time. Our Asset Management Plan and Asset Management Policy help us anticipate infrastructure needs, building and other land improvements, and replacement of vehicles, machinery and equipment.

Long Range Financial Plan update

Springwater has retained Watson & Associates to update the Long Range Financial Plan to assist the Township with the financial evaluation of anticipated growth in the municipality.

The Long Range Financial Plan aims to address the capital infrastructure needs and timing for tax-supported Township services, as well as rate-supported services such as water and wastewater. It will also determine capital financing; operating costs for infrastructure and services to accommodate new population and employment; comments on the potential impact on taxpayers over the planning horizon and provide the impacts of growth on the Township’s debt capacity

Presentations:

Springwater Long Range Financial Plan - Watson & Associates - January 20, 2021

Audited financial statements

Staff work with independent auditors to prepare audited financial statements. These reports examine our financial records and accompanying disclosures.

Audited financial statements