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Town of Tillsonburg

Town of Tillsonburg. 2014 Budget and Business Plans January 27, 2014. 2014 Budget Status. Current draft budget is an overall increase of $269,157 or 2.17% in the requirement from taxation.

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Town of Tillsonburg

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  1. Town of Tillsonburg 2014 Budget and Business Plans January 27, 2014

  2. 2014 Budget Status • Current draft budget is an overall increase of $269,157 or 2.17% in the requirement from taxation • Comprised of an operating draft budget increase of $358,715 or 3.1%; capital budget decrease of $89,558 or -11.6% • Average CVA assessment of $210,143, the town general levy is 0.95% or $14.24

  3. 2014 Budget Changes • Since last met on December 11, 2013, the draft budget has been updated for a net of an $800 increase: • Coronation trail project now over 2 years and funding source has changed to taxation • Engineering FT labor decrease of $5,700 • Photocopier RFP savings of $10,000

  4. 2014 Budget Pressures • 1.5% economic adjustment to wage grids $90,000 – to remain competitive • Wage grid movement, $40,000 • One additional FTE request, $45,000 • 2.75 FTE reductions, $(100,000)

  5. 2014 Budget Pressures • OPP contract increase, $256,305 or 7.71%. OPP contract, $3,581,449 or $503.15 per household • Insurance cost, 5% budget increase, $24,000 • Parks and Recreation operating and capital increases, $142,000 • P&I 2014 savings sheltered, contributed to reserves, $352,000

  6. 2014 Budget Pressures • P&I savings utilized in the draft 2014 budget: $195,000 in the proposed capital program • Benefit increases, 0% • Net infrastructure levy decrease, $89,600 • Sustaining existing service delivery

  7. 2014 Budget Opportunities • Assumed THI dividend level of $150,000, a reduction from $205,000 in 2013 • Bucket truck replacement assumed to be funded from THI dividends in 2014, $230,000, and reserves (from residual 2013 THI dividends, $95,000)

  8. 2014 Budget Strategic Initiatives • Continued minimization of debt for infrastructure – 2014 - $0 • Correction: recommended debt balloon payment - $390,000 due in 2015 Q1, not 2014 • Implementation of: • IT Strategic Plan • Community Strategic Plan • Asset Management Plan

  9. 2014 Budget FT Employees

  10. 2014 Budget PT Employees (FTE)

  11. 2014 Budget – Impact to the Median Residential Taxpayer Note: 2014 Library rate TBD

  12. 2014 Budget Recommendation • Resolve that the 2014 Business Plans and Budget in the amount of $12,661,037 be adopted

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