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.
Following Council’s direction, each year Township staff prepare operating and capital budgets that outline how the Township allocates resources to deliver programs and services.
New this year, Township staff will present a multi-year budget. Council will have the opportunity to approve the 2023 Budget and approve ‘in principle’ the 2024 Budget. Council will officially adopt the 2024 Budget the following year, subject to any changes.
The proposed 2023/2024 Budget & Business Plan will be presented to Springwater Council on January 16, 2023.
The proposed budget will be discussed during a series of meetings taking place in January and February. All meetings will be live streamed online at www.springwater.ca/live. Past meetings are available on the Township of Springwater's YouTube page.
The Township is accepting stakeholder feedback on the proposed 2023/2024 Budget & Business Plan. For your comments to be included in the January 20, 2023 agenda they must be received by the Clerk's department, in writing, no later than Thursday, January 19, 2023 at 4:00 p.m. To submit your feedback please email email@example.com
|Springwater Council approved the 2022 Budget with a 2.73% tax increase over 2021 rates.
When combined with the County of Simcoe approved budget with a 2%increase and the education rate which is expected to remain neutral, residents will see a 1.98% blended tax increase on their 2022 tax bill.
For every tax dollar spent:
For an average home in Springwater assessed at $489,000, the approved blended rate amounts to a $79.87 increase over 2021 levels or $6.66 per month.
| The Township’s budget totals $48.6 million:
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 and Reports:
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|