Financial Overview
The Municipality’s annual operating budget is normally $16,000,000.00 to $18,000,000.00 per year. The capital budget varies widely, but is typically several millions of dollars per year. There are over 5,400 residential dwellings in the Municipality and we process over 9,000 tax bills each year for residential, resource, and commercial accounts.
The finances of the Municipality are organized into four distinct funds:
- General Operating Fund: where we record and account for all of our day-to-day business.
- Capital Reserve Fund: contains special restrictions and from which we account for the financial components of our capital acquisition and disposal transactions.
- General Capital Fund: where we keep track of all of our tangible capital assets such as sewer systems, sidewalks, buildings, equipment, recreational assets, and more.
- Operating Reserve Fund: holding financial reserves that can be used for special purposes such as loans to volunteer fire departments and as a store of equity as a hedge for difficult times.
The Finance Department reports our financial and operational results quarterly to Council, and more often when required on specific transactions and initiatives. Operating and capital budgets are prepared annually, with a high level of detailed input from the respective department heads and Council. The budget is normally finalized and approved by Council in May of each year.
Reporting & Statistics
The following contains financial data on the historical, prospective, and performance metrics that we use in the administration of municipal business:
