The ad hoc Budget Advisory Committee met on Monday, February 4th to discuss the proposed 2019 Operating Budget, as well as the proposed Water and Sanitary Services Operating Budget and Rates Analysis. The committee endorsed an operating budget including approximately $10.4M in expenditures. The budgeted expenditures are funded through various operating revenue streams, senior government grants, investment income, and the levy increase of 2.0%.
The levy increase will impact the average residential property by approximately $13.48, excluding Regional and School Board taxes, and is on the lower end of anticipated levy adjustments across the Region of Waterloo.
The committee also approved a Water and Sanitary Budget of $5.8M, including allocations to infrastructure reserve funds. This budget includes increases of 2.9% to water volumetric charges and 7.9% to sanitary volumetric charges. These rates will result in an increase of $9.53 to the average bi-monthly residential bill.
The final budget package including operating and capital programs will be presented for formal approval at the regular Council meeting on February 11th.
For more information on the 2019 Budget, visit our budget page. For details on specific meetings and agenda packages, please see our Budget Calendar.
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