Guelph, ON, October 23, 2015 – Today, the City released the recommended 2016-2025 Tax-supported Capital Budget and Forecast to City Council and the community.
The recommended 2016 Capital Budget includes a tax supported operating contribution of 15 per cent of last year’s net tax levy (within the Council-approved guideline of 20 per cent) and five per cent from debt financing. This provides total tax supported capital funding at approximately 20 per cent of the prior year net tax levy.
The funding breakdown of the total capital budget of $60.7 million includes the following revenue sources: grants (15%), development charges (28%), debt (17%) and an operating transfer to capital reserves (40%).
City staff will present the recommended budget to Council on Wednesday, October 28. During the meeting, community members are invited to make presentations supporting specific investments in buildings, roads, sidewalks, bike lanes, transit, parks, trails, and other assets and infrastructure.
“Community input is strongly encouraged as part of the City’s annual budget process. Delegation is one way in which Council can hear direct feedback from residents before approving the budget,” says Janice Sheehy, city treasurer.
The recommended 2016 Capital Budget is focused on maintaining current assets while continuing to deliver exceptional service and value for the community. This focus helps ensure the community’s health and safety, and allows the City to deliver valuable services the community expects.
“This year’s budget reflects our commitment to working together to build a better community,” says Sheehy. “Through the capital budget, the City is improving services such as transit and recreation, expanding or replacing roads to allow commuters to travel safely, and replacing infrastructure to ensure City services can be delivered throughout the year.”
Learn more and have your say
Residents are invited to review the recommended budget documents and bring their comments to Council on October 28 (Capital Budget meeting) and November 30 (Public Delegation Night).
Delegation registration and submission must be submitted by Tuesday, October 27 at 9 a.m. for the Capital Budget meeting and Friday, November 27 at 9 a.m. for the Public Delegation Night. To register, contact the Office of the City Clerk at 519-837-5603 or firstname.lastname@example.org.
All budget documents and related information will be posted on guelph.ca/budget as they become available.
For more information
Janice Sheehy, City Treasurer
General Manager, Finance
519-822-1260 extension 2289