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Five
Year Financial Plan 2001 - 2005
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SUMMARY
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At its meeting on April 9, 2001, Council gave Bylaw #1654, being a bylaw
to establish the City's Financial Plan for the five years 2001-2005,
first, second and third readings.
The Financial Plan is summarized below
and written comments are invited from the public on or before May 7, 2001.
The plan proposes that the level of
services be maintained as in prior years and the City has managed to hold
the line on most general operating costs, except police services. Major
capital projects in 2001 include the RCMP building, the continuing road
rehabilitation program and the gateway project as well as a variety of
water and sewer upgrading projects.
The plan incorporates a 6% property tax
increase across all classes for 2001 which is almost entirely attributable
to increased policing costs, including the RCMP contract for services
($100,000) and financing the construction of the new RCMP building
($76,000).
Council is pleased to report that there
will be no increase in garbage or sewer rates for this year. However,
residential water rates will increase to $250 in 2001 from the current
$225 in accordance with the recommendations made by both the Citizens
Water Advisory Committee and the Strategic Financial Management Plan
Citizens Advisory Committee to meet operating and future capital costs.
Other water rate categories will increase by the same percentage.
The full text of the financial plan
discussion document can be viewed at City Hall during normal office hours.
|
| |
2001 |
2002 |
2003 |
2004 |
2005 |
|
Revenues |
| Property taxation |
$3,657,000 |
$3,850,000 |
$4,045,000 |
$4,250,000 |
$4,465,000 |
| 1% Utility
tax |
102,000 |
105,000 |
105,000 |
105,000 |
105,000 |
| Frontage tax |
105,000 |
105,000 |
105,000 |
105,000 |
105,000 |
| Fees
and Charges |
| -Sale of services |
1,366,500 |
1,366,500 |
1,366,500 |
1,367,500 |
1,367,500 |
| -User fees:
water and sewer |
1,496,000 |
1,583,000 |
1,600,000 |
1,600,000 |
1,600,000 |
| Other
Revenue |
| -Grants/Other Governments |
2,172,000 |
2,171,000 |
2,170,000 |
2,113,000 |
2,112,000 |
| -Other |
1,174,500 |
773,000 |
773,000 |
773,000 |
773,000 |
| Transfers from reserves and
surplus |
1,861,100 |
1,600,500 |
1,284,000 |
976,000 |
966,000 |
| Debt
proceeds |
2,850,000 |
400,000 |
350,000 |
300,000 |
250,000 |
| Prior years surplus |
0 |
229,520 |
50,000 |
0 |
0 |
| TOTALS |
$14,784,100 |
$12,183,520 |
$11,848,500 |
$11,589,500 |
$11,743,500 |
| |
2001 |
2002 |
2003 |
2004 |
2005 |
|
Expenditures |
| General operating |
$7,178,600 |
$7,201,100 |
$7,185,100 |
$7,183,100 |
$7,206,100 |
| Water utility |
461,000 |
461,000 |
461,000 |
461,000 |
461,000 |
| Sewer utility |
281,000 |
281,000 |
281,000 |
281,000 |
281,000 |
| Transfers to
reserves and surplus |
916,000 |
1,103,000 |
1,120,000 |
1,102,000 |
1,090,000 |
| Capital expenditures |
5,381,650 |
2,423,900 |
1,964,000 |
1,806,000 |
1,776,000 |
| Debt
principal repayments |
121,926 |
185,820 |
197,917 |
208,502 |
217,575 |
| Debt interest payments |
430,200 |
527,700 |
546,200 |
568,300 |
578,500 |
| Prior years
surplus |
13,724 |
0 |
93,283 |
61,598 |
133,325 |
| TOTALS |
$14,784,100 |
$12,183,520 |
$11,848,500 |
$11,589,500 |
$11,743,500 |
| |
2001 |
2002 |
2003 |
2004 |
2005 |
Total |
|
Capital
Expenditures |
| General
Capital Fund |
| Roads and other infrastructure |
$1,005,550 |
$823,400 |
$680,000 |
$830,000 |
$810,000 |
$4,148,950 |
| Buildings
& Equipment |
3,391,100 |
455,500 |
384,000 |
536,000 |
436,000 |
5,202,600 |
| Other |
130,000 |
100,000 |
100,000 |
100,000 |
100,000 |
530,000 |
| Water
Capital Fund |
| Infrastructure upgrades |
570,000 |
360,000 |
660,000 |
200,000 |
200,000 |
1,990,000 |
| Sewer
Capital Fund |
| Infrastructure upgrades |
285,000 |
685,000 |
140,000 |
140,000 |
230,000 |
1,480,000 |
| TOTALS |
$5,381,650 |
$2,423,900 |
$1,964,000 |
$1,806,000 |
$1,776,000 |
$13,351,550 |
| |
2001 |
2002 |
2003 |
2004 |
2005 |
Total |
|
Source of
Funds |
| General revenue |
$424,050 |
$423,400 |
$330,000 |
$530,000 |
$560,000 |
$2,267,450 |
| Reserve funds |
1,861,100 |
1,600,500 |
1,284,000 |
976,000 |
966,000 |
6,687,600 |
| Borrowing |
2,850,000 |
400,000 |
350,000 |
300,000 |
250,000 |
4,150,000 |
| Grants and
other funding |
246,500 |
0 |
0 |
0 |
0 |
246,500 |
| TOTALS |
$5,381,650 |
$2,423,900 |
$1,964,000 |
$1,806,000 |
$1,776,000 |
$13,351,550 |
| |
General
Revenue |
Reserves |
Borrowing |
Grants
& Other |
| General
Capital Fund |
| Roads and other infrastructure |
$2,267,450 |
|
$1,750,000 |
$246,500 |
| Buildings
& Equipment |
|
3,217,600 |
2,400,000 |
|
| Other |
|
0 |
|
|
| Water
Capital Fund |
| Infrastructure upgrades |
|
1,990,000 |
|
|
| Sewer
Capital Fund |
| Infrastructure upgrades |
|
1,480,000 |
|
|
| TOTALS |
$2,267,450 |
$6,687,600 |
$4,150,000 |
$246,500 |
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