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BUDGET 2018

BUDGET 2018. Township of Horton Public Meeting – December 12, 2017 5:30 p.m. Asset Management and Long Term Financial Strategies.

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BUDGET 2018

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  1. BUDGET 2018 Township of Horton Public Meeting – December 12, 2017 5:30 p.m.

  2. Asset Management and Long Term Financial Strategies • Our Asset Management Plan is one of the financial tools used to guide the municipal decision making process. As presented this evening, the Township has undertaken a Roads Needs Study in 2017 and updated the Asset Management Plan. • Council Adopted the 10 Year Capital Forecast May 3, 2016 and continues to amend the forecast and utilize this information for the purpose of the Asset Management Plan, Long Term Financial Strategies and the Development Charges Study. This is a living document and as such Council and Staff will continue to amend this on an annual basis.

  3. Asset Management and Long Term Financial Strategies Continued • It is important to note that the Township will continue to develop policies with regards to the Asset Management Plan, Reserves and Debt pending Provincial regulation changes. • Our strategies to date will not ever maintain our road infrastructure without infrastructure funding from other levels of government. • It is imperative that we address the infrastructure gap. Our 10 year forecasted budget includes an annual levy increase of 3.5% but this will be deliberated each year through the annual budget process. • In 2017 the CAO/Clerk commenced with a Strategic Plan for the Township which Council and Staff will use as a guide over the next few years.

  4. Budget Process • Budget Worksheets are distributed to Managers and Committees with Payroll numbers already populated. • The Treasurer consolidated the Managers and Committees budget requests and presented the 2018 Departmental Summary, 2018 Capital, 10 Year Capital, Reserves and Long Term Forecast schedules to the Ad Hoc Budget Committee. • The Committee met on several occasions to review all the Schedules. • The Committee choose a tax levy increase of no more than 3.5% after growth. The 2018 budget currently incorporates a 3.49% levy increase after growth. The estimated 2018 increase due to growth is equal to a levy increase of approximately $28,525. Growth is applied annually to increase in wages, utilities and materials etc.

  5. 2018 Departmental Summary

  6. 2018 Departmental % of Operating Budgets

  7. 2016 to 2018 Departmental % of Operating Budgets

  8. Township Debt The Township debt was $881,838 in 2010 and is forecasted to be $382,935 for the year ending 2018. Since 2010, the Recreation Committee has raised an estimated $144,100 towards the Recreation Debt.

  9. Reserves – 2010 to 2018

  10. Highlights • 2018 budget continues to include transfers to Reserves for Maintenance and Replacement of the Townships Infrastructure. The Reserve Balance has grown from $603,765 in 2010 to a forecasted $806,381 for 2018. Reserves are utilized mostly for Capital Infrastructure. • Increase in OPP costs from $462,135 to $466,229. Since 2007 OPP has increased 145.6%. • 2018 budget continues with debt payments. Our debt at the end of 2018 will be $382,934.

  11. Future Impacts • OPP Billing Model will continue to impact the annual levy. • Lack of Long Term Funding and the increase in the Infrastructure Deficit will continue to impact the condition of our Tangible Capital Assets and potentially service levels.

  12. Closing Remarks • Thank you to Council, committees, and staff for their help in preparing the 2018 budget. • This presentation along with the detailed budget is available on our Municipal Website at www.hortontownship.ca • Questions?

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