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.
The 2024/25 Budget & Business Plan was approved by Council on December 6, 2023.
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:
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.
|The Township’s budget totals $70.9 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.
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