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Town of Tillsonburg. 2012 Draft Budget November 3, 2011. 2012 Draft Budget. Current 2012 draft budget is $13,193,824 an increase of $1,173,817 from the 2011 budget or an increase of 9.77\% in the requirement from taxation. 2012 draft operational budget = an increase of $1,039,816 or 9.3\%.

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town of tillsonburg

Town of Tillsonburg

2012 Draft Budget

November 3, 2011

slide2
2012 Draft Budget
  • Current 2012 draft budget is $13,193,824 an increase of $1,173,817 from the 2011 budget or an increase of 9.77% in the requirement from taxation
  • 2012 draft operational budget = an increase of $1,039,816 or 9.3%
  • 2012 draft capital budget = an increase of $134,001 or 16.9%
slide3
2012 Draft Budget - Strategies

How did we arrive at an operational increase of 9.3%:

  • No increase in operational reliance on reserves. Amounts consistent with 2011
  • Increase in insurance costs of 2.96% or $10,500
  • Benefit costs renewal, a 0% increase
  • Increase in Omers contribution rates and costs of $91,700
  • Removal of Tillsonburg Levy, $100,000
slide4
Strategies Continued
  • Assumed increase in OPP contract budget of 5% or $160,000
  • Budget impact from OPP PSU of $66,333
  • Completion of FT wage and salary grid placement of $112,000
  • Continuation of PT wage grid placement of $14,000
  • Job Evaluation wage adjustments of $50,000
  • Implementation of market survey results in 2013, $0 for 2012
  • Reduction of part-time labour of $34,000
slide5
Strategies Continued
  • FT labour conversion from 35 hours to either 37.5 or 40 hours, net $27,000
  • Rates and fees revenue increase, already reflected in Recreation and Development and Communications departmental budget, of $125,025.Further review and up date to the by-law is required
  • Additional IT related expenditures of $18,000 in Development and Communications
  • Additional FTE’s: 2 FTE in Development and Communications for $79,000, in Q1 and Q3; 1 FTE in Finance for $35,000 in Q3; 1 FTE in Water for $55,000 in Q1 to be funded by the County
slide6
Strategies Continued
  • OMPF grant assumed to remain at $248,400. Reduction not yet known
  • Fire department additional revenue of $50,000 and decrease in labour of $28,000
  • Initial Library 2012 budget increase request of $63,804. Not yet adopted by Library Board
  • Additional HLW costs of $37,000
  • Net reduction in Recreation program revenue of $119,000
  • Additional winter maintenance costs of $8,500
slide7
Strategies Continued
  • Culture and Tourism special events and advertising increase of $20,100
  • Net increase in P&I payments of $31,000. Includes $61,000 relating to new Fire truck
slide14
Strategies Continued
  • Council support for the strategies utilized in the 2012 budget?
  • Questions and answers?
slide15
Opportunities and Risks
  • Risk: OPP contract negotiations not final
  • Risk: OMPF grant reduction not yet known
  • Opportunity and risk: Library budget request not yet known
  • Opportunity and risk: additional OPP PSU for 2011 exceeding the budget amount of $75,000
  • Opportunity and risk: Fire department gave notice to it’s current customers for 2012 that there will be a dispatch rate increase
  • Opportunity and risk: the 2011 reserve balances remain low at $2,386,619, which includes development charges of $804,381
slide16
Opportunities and Risks Continued
  • Opportunity and Risk: Implementation of the Master Culture and Recreation Plan
  • Opportunity and Risk: pre-budget Roads tender critical for obtaining best pricing
  • Opportunity and Risk: Sidewalk inspection program, however, could offset insurance claims
  • Opportunity and risk: changing the tax installment due dates
  • Opportunity and Risk: Sell assets: TSEC; Parks Shop; surplus land
slide17
Opportunities and Risks
  • Opportunity: Invest in the future, technology (Road Patrol; laser fiche; ACR leverage;). Work smarter, not harder
  • Opportunity: Continued use of ACR improves customer service; streamlines business processes; and improves reporting
  • Opportunity: Improvement of marketing and communications to attract investment and interest; increase jobs
  • Opportunity: Cost efficiencies are found exceeding $25,000
  • Opportunity: build reserves; pay down debt
slide18
Impact to the Taxpayer
  • Using 2011 CVA amounts, before any anticipated growth or changes in the median residential assessment value, the impact to the residential median taxpayer of a 9.77% increase in the requirement from taxation is estimated to be approximately $136.17
slide19
Debt Reduction Draft Plan
  • 2012 debt summary to be reviewed
  • Any annual surplus to go to reserves to pay down debt on maturity
  • Review all debt for opportunities to collapse, renegotiate and reduce interest charges
  • Sell surplus assets, with initial focus on residential lot sales
  • All net proceeds from sale of assets to go to reserves
  • Reserves used to pay down debt, beginning with TD float rate debt
slide20
2012 Draft Budget Summary
  • Management requests direction from Council on the next steps
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