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.

2024/25 Budget

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.

For the second time, Township staff will present a multi-year budget. Council will have the opportunity to approve the 2024 Budget and approve ‘in principle’ the 2025 Budget. Council will officially adopt the 2024 Budget the following year, subject to any changes.

The proposed 2024/2025 Budget & Business Plan will be presented to Springwater Council on November 1, 2023.

Schedule

Date	Documents	Video Stream
Wednesday, November 1, 2023 6:30 p.m.
Monday, November 13, 2023 5:00 p.m.
Wednesday, November 15, 2023 1:00 p.m.
Monday, November 20, 2023 5:00 p.m.
Wednesday, November 22, 2023 (as required) 1:00 p.m.
Wednesday, December 6, 2023 6:30 p.m.

Have Your Say

The Township of Springwater wants to learn more about the priorities and preferences of Springwater residents, and this survey is your opportunity to help us spring forward in Springwater! Complete the short survey below to tell us what you think about the Township’s areas of services, whether they are meeting expectations, and how they may be improved. The survey will be open until Monday, October 16, 2023.

Complete the Survey

2023/24 Budget

The 2023/24 Budget & Business Plan was approved by Council on February 15, 2023.

Tax Change

Springwater Council approved the 2023 Budget with a 5.68% tax increase over 2022 rates.

When combined with the County of Simcoe approved budget with a 3.5% increase and the education rate which has remained neutral, residents will see a 3.92% blended tax increase on their 2023 tax bill.

For every tax dollar spent:

$0.49 is retained by the Township of Springwater*
$0.33 goes to the County of Simcoe
$0.18 goes towards Education

*includes Policing

Tax Impact

For an average home in Springwater assessed at $493,000, the approved blended rate amounts to a $162.54 increase over 2022 levels or $13.55 per month.

Budget Breakdown

The Township’s budget totals $50.1 million:

$23.4 million in operating expenses
$21.2 million in capital expenditures
$3.0 million in water operations
$2.5 million for wastewater operations

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