Tag Archives: 2016 Budget

2016 budget highlights

A look at some of the budget details On December 10, 2015, City Council approved a $216 million operating budget and a $61 million capital budget for 2016. This represents a 2.99 per cent tax increase over 2015. In approving the budget, Council approved $3.6 million in reductions to the base budget which included adjustments to purchased goods and services, revenue including a 15 per cent increase to vendor fees at the Guelph Farmers’ Market, and service level changes for Guelph Transit (described below). Within the capital budget, Council approved 124 projects including but not limited to Transit fare box replacement, vehicle and equipment lifecycle replacements, bridge replacements/upgrades (including Niska Bridge), South End Community Park continued implementation, and downtown parkade construction. The following identifies the… Continue reading 2016 budget highlights

2016 budget focuses on delivering public services better

City council approves 2.99 per cent tax increase over 2015 Guelph, ON, December 10, 2016 – This evening, Guelph City Council approved a $216 million operating budget and a $61 million capital budget for 2016. This represents a 2.99 per cent tax increase over 2015. Based on the average household assessment for 2015 and the City’s 2015 tax policy, this amounts to an increase of $96.19 per household based on a home valued at $301,770. When combined with changes to Guelph’s water and wastewater rates, the impact on an average household is roughly $127.19 in 2016. “The 2016 budget balances the diverse needs of our community,” says Janice Sheehy, general manager, finance and city treasurer. “Through community input, Council deliberation and employee support, Council has approved a budget that reinforces… Continue reading 2016 budget focuses on delivering public services better

City to present affordable base budget for Council, community discussion

1.58 per cent base budget increase recommended for 2016 Guelph, ON, November 4, 2015—Today the City has released the recommended 2016 Tax-supported Operating Budget and Forecast for Council and community to review. The recommended budget will be presented by administration on November 10, 18 and 19. Residents are encouraged to attend the presentations or watch online prior to delegating on November 30, 2015. “The 2016 budget challenged the City to find additional efficiencies in an already lean organization. By critically reviewing each line item, departments were able to reduce their individual asks to support the overall 1.58 per cent increase,” says Janice Sheehy, city treasurer. “The recommended budget meets the community’s and City’s needs for 2016 while remaining affordable; however, with such a low tax… Continue reading City to present affordable base budget for Council, community discussion

Council and community to discuss 2016 investment in City assets 

2016 capital budget open to public comment October 28 and November 30 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… Continue reading Council and community to discuss 2016 investment in City assets 

City in positive financial position

BMA assessment of Guelph’s financial condition released Guelph, ON, September 25, 2015 – On Monday evening, City Council heard highlights from the 2014-15 Financial Condition Assessment report which evaluates the City’s financial health and identifies future challenges and opportunities. The assessment was conducted by BMA Management Consulting Inc. “By proactively seeking this assessment from BMA, City Council, administration and the community receive an objective third-party view of our current and future financial state. This is especially helpful as Council approaches the end of its first year in office, and considers the 2016 budget,” says Janice Sheehy, city treasurer. The BMA assessment concludes that the City’s overall financial condition is favourable and trending upward. However, like other municipalities, the City is facing a number of challenges that… Continue reading City in positive financial position

City’s credit rating remains stable

Guelph, ON, August 27, 2015 – On Tuesday, Standards & Poor’s Rating Services (Standards & Poor’s) announced that the City of Guelph’s credit rating continues to be strong and remains at AA+ with a stable outlook. “This is the third year that Guelph’s credit rating has been issued at this level,” said Janice Sheehy, general manager, finance and city treasurer. “The reaffirmed AA+ rating reflects the City’s positive financial position.” According to the Standard & Poor’s Ratings Direct Research Update the rating reflects Guelph’s “very strong economic fundamentals, exceptional liquidity position and low debt burden.” The credit rating highlights Standard & Poor’s view that Guelph has a very predictable and well-balanced financial framework which demonstrates the City’s strong financial management practices. Those practices include a… Continue reading City’s credit rating remains stable