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.

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

Budget Deliberations

Date	Documents	Video Stream
Monday January 16, 2023 4:00 p.m.	Tabling of proposed 2023/2024 Budget presentation Report - Proposed 2023/2024 Budget	Watch the Meeting
Wednesday, January 18, 2023 1:00 p.m.	Severn Sound Environmental Association Presentation Nottawasaga Valley Conservation Authority Presentation Springwater Public Library Presentation Barrie Area Physician Recruitment Presentation Georgian Bay Physician Recruitment Presentation	Watch the Meeting
Friday, January 20, 2023 9:00 a.m.	Proposed 2023/24 Multi-Year Budget Presentation 2023 Blended Tax Rate Presentation	Watch the Meeting
Thursday, February 2, 2023 5:00 p.m.	Updated Proposed 2023/24 Multi-Year Budget Presentation	Watch the Meeting
Wednesday, February 15, 2023 6:30 p.m.	Report - Revised Proposed 2023/24 Budget & Business Plan	Watch the 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