Milton council to discuss proposed 2022 capital and operating budget

Milton | Halton | Ontario | Latest News |

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Published November 29, 2021 at 10:53 am

Milton council is set to discuss the 2022 Capital and Operating Budget at tonight’s (Nov. 29) meeting.

At tonight’s meeting, senior members of Town staff will be in attendance to provide a presentation on the proposed budget.

The presentation will cover several recommendations including the following.

The report recommends that the amount of $123,273,555 be approved and authorized to proceed with the 2022 capital expenditures and revenue sources for Town departments, including the Library.

Additionally, the report recommends that the amount of $1,083,930,605, for the 2023-2031 capital forecast for Town departments, including the Library, be approved in principle, subject to future reviews on an annual basis as part of the capital budget process.

It also recommends that the 2022 Town and Library operating budget be approved with a tax levy of $79,479,857 and that the Milton BIA expenditures included in the budget be approved in the gross amount of $341,650 and have a net tax levy of $245,796.

Among several other points, the report also reccommends that transfers to and from Reserves and Reserve Funds within the proposed budget be approved and that the Milton District Hospital Expansion Reserve Fund be closed as of December 31, 2021.

According to the report, the 2022 proposed budget aligns with the priorities in the Council-Staff Work Plan and provides resources within the Town’s Development Services area to support growth-related development applications and studies related to climate change and sustainability initiatives.

As presented, the 2022 operating budget equates to a 5.19 per cent change in local tax rate or $13.39 per $100,000 of residential assessment.

The total impact on residential property taxes is estimated at 2.76 per cent or $18.84 per $100,000 of residential assessment when estimated Regional and Educational changes are considered.

The 2022 capital budget represents an investment of $123.3 million in a total of 126 projects. Additionally, through investment in new infrastructure and associated studies, 76 per cent of the budget will extend existing services to growth areas.

The report will be discussed in further detail at tonight’s meeting, which will begin at 7:00 p.m.

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