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.

2020 Budget

The 2020 Budget and Business Plan was approved by Council on December 18, 2019. Watch the final budget discussion for more information.

Tax Change

Springwater Council approved the 2020 Budget & Business Plan with a 0.25% net tax levy reduction over 2019.

When combined with the County of Simcoe approved tax increase of 2%, the education rate – which staff have assumed to remain neutral – and the policing charge, the blended tax increase is estimated at 0.57%.

For every tax dollar spent:

$0.41 is retained by the Township of Springwater
$0.34 goes to the County of Simcoe
$0.19 goes towards Education
$0.06 is allocated towards Policing

Tax Impact

For an average home in Springwater assessed at $478,826, the approved blended rate amounts to an annual increase of $22.57 over 2019 levels, or $1.88 per month.

Budget Breakdown

The Township’s budget totals $43.9 million:

$20.9 million in operating expenses
$18.1 million in capital expenditures
$3.2 million in water operations
$1.6 million in wastewater operations

Budget Deliberations

Council discussed the budget over a series of meetings on:

See the agenda for details and budget presentations.

2019 Budget

View the 2019 Budget and Business Plan approved by Council on February 20, 2019. Watch the final budget discussion for more information.

Tax change

The blended tax increase is 1.76% over 2018 rates. For every tax dollar paid by Springwater property owners:

$0.40 goes to the Township
$0.34 goes to the County of Simcoe
$0.20 goes towards education
$0.06 goes to policing

Tax impact

Residents will see an increase of $67.18 over 2018 based on an average residential property valued at $451,393, or $14.88 per $100,000 of property assessment.

Budget breakdown

The Township's budget totals $40.7 million:

$20 million in operating expenses
$16.6 million in capital expenditures
$2.7 million in water operations
$1.4 million in wastewater operations

Budget deliberations

Council discussed the budget over a series of special budget meetings on:

See the agenda for details and budget presentations.

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