Fiscal 2024/25 Budget Summary

Budget Highlights
  • The Personal Property Tax Reduction amount for households with a total income below $46,000 increased by $50. Eligible applicants will now receive up to $560 in ratepayer relief.
  • More than $3 million has been earmarked for Community Grants Programs that will benefit a wide range of organizations and individuals, including $254,000 in Funding to External Service Providers making unique services available to residents of the Municipality.
  • An enhanced Capital Reserve contribution of $2 million will support long-term asset management plans and address the capital reserve deficit.
  • An additional Operating Reserve contribution of $900,000 will help keep the account at pre-COVID levels and help offset unknown future costs related to ongoing Provincial Service Exchange negotiations.
  • Assessment growth of 3.2% (CAP eligible properties), 5% (new housing construction, major renovations, etc.), and 10.3% (commercial properties) enabled the Municipality to manage inflationary pressures and significant increases to mandatory provincial payments for education and policing services (increases of $1,595,600 and $596,700 respectively).
  • The budget allows for the creation of 3.5 new staffing positions to support development growth, increased demands for service, long-term municipal plans and the strategic priorities set by Municipal Council.
  • Overall funding to fire departments providing service to the Municipality is increasing by 5.2% this fiscal year (from $2,689,555 to $2,829,700).

2024-25 Operating Budget Summary
Education Contribution $15,668,200
RCMP 9,722,500
Other Mandatory Services 2,018,700
Inter-Municipal Service Agreements 6,340,700
Salaries, Wages & Benefits 9,605,600
Materials, Supplies, Utilities 3,851,320
Purchased Services 3,621,880
Special Projects 2,413,230
Fire Protection Funding 2,829,650
Grants 3,009,810
Debt & Transfers to Reserve 6,252,170
Total Operating Expenditures $65,333,760
Capital & Project Budget Summary
Information Technology $485,472
Municipal Facilities 430,000
Roads & Sidewalks 1,005,000
Parks & Recreation 135,000
Special Projects 5,375,511
Municipal Sewer 17,574,797
Regional Sewer 9,268,324
Greenwood Water Utility 7,374,047
Total Capital and Project Budget $41,648,151