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.

2025/26 Budget

Each year, staff follow Council's direction and prepares the Township's annual budget. The 2025 Budget & Business Plan will be developed based on maintaining existing programs/services at current levels. Any service enhancements, reductions or new proposals will be presented as 'program changes' to allow Council to evaluate each on its own merit. The 2025 Budget & Business Plan will be tabled on November 6, 2024 and is anticipated to be adopted on December 4, 2024.

Schedule

Date	Documents	Video Stream
Wednesday, November 6, 2024 6:30 p.m.
Monday, November 18, 2024 5:00 p.m.
Wednesday, November 20, 2024 2:00 p.m.
Monday, November 25, 2024 5:00 p.m.
Wednesday, November 27, 2024 1:00 p.m.
Wednesday, December 4, 2024 6:30 p.m.

2024/25 Budget

The 2024/25 Budget & Business Plan was approved by Council on December 6, 2023.

Tax Change

The Township’s 2024 Budget was approved with a 1.22% net tax increase over 2023 rates. When combined with the County of Simcoe’s approved tax increase of 3.7% and the education rate which is assumed to remain neutral, residents can expect to see a 1.83% blended tax increase on their 2024 property tax bill.

For every tax dollar spent:

$0.49 is retained by the Township of Springwater
$0.34 is retained by the County of Simcoe; and
$0.17 goes towards Education.

Tax Impact

For an average home in Springwater assessed at $497,000, the approved blended rate amounts to a $79.34 increase over 2023 levels, or $6.61 per month.

Budget Breakdown

The Township’s budget totals $70.9 million:

$24.9 million in operating expenses
$20.9 million in carry forward capital projects
$19.3 million in new capital expenses
$3.2 million in water operations
$2.6 million for wastewater operations

Schedule

Date	Documents	Video Stream
Wednesday, November 1, 2023 6:30 p.m.	Presentation	View Meeting Presentation begins at 46:20
Monday, November 13, 2023 5:00 p.m.	Agenda South Georgian Bay Physician Recruitment Presentation Barrie Area Physician Recruitment Presentation Nottawasaga Valley Conservation Authority Presentation Severn Sound Environmental Association Presentation Springwater Public Library Presentation	View Meeting
Wednesday, November 15, 2023 1:00 p.m.	Agenda Presentation	View Meeting
Monday, November 20, 2023 5:00 p.m.	Agenda Presentation	View Meeting
Wednesday, November 22, 2023 1:00 p.m.	Agenda Presentation	View meeting
Wednesday, December 6, 2023 6:30 p.m.	Report	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.

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