The annual municipal budget process begins in the fall of each calendar year. This process includes a review of the taxation policy, fees and charges, grants to community groups, service level requirements, 10-year capital forecast, operating and capital requirements.
| 2023 Pre Budget Consultation |
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The 2023 Pre Budget-Consultation online survey closed on November 1 at 5:00 p.m. We want to thank the community for providing their feedback and suggestions to help inform Wilmot’s 2023 budget. The Finance and Budget Committee reviews the various budget requests and recommends the entire budget package to Council for final approval in February. Visit the Budget Calendar page for details on upcoming meetings. |
| Municipal Budget Packages |
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Current and previous municipal budget packages are available below:
Contact us if you would like a copy of the municipal budget package or highlights prior to 2011. |
| 2023 Budget Summary |
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Wilmot Township Council has approved the 2023 municipal budget as proposed by the Finance and Budget Committee, including a 3.24% general levy increase, continuation of a dedicated infrastructure levy at 2.80%, and a special levy of 0.84% for increased levels of service. This results in a combined increase of 6.88% over the 2022 property tax levy. The Finance and Budget Committee held meetings on December 12, 2022, January 30, February 13, February 21, and March 14, 2023, to consider the various aspects of the 2023 Municipal Budget including the base operating budget, 2023 capital program, 10-year Capital Forecast, fees and charges, levels of service and the municipal grant program. Operating expenses support the day-to-day operations of the municipality across all services areas and are projected to exceed $22.0M in 2023. The budget also includes an additional $655,000 in debt servicing costs, associated with debt issued in the fall of 2022 for key infrastructure initiatives. The 2023 Capital Program is valued at approximately $22.5M, with funding from a variety of sources including external grant programs, development charges, infrastructure reserve funds and current year levy funding of $1.06M. The majority of capital expenditures are associated with core infrastructure assets in accordance with the Township’s Asset Management Program. Infrastructure investments also include underground assets to prepare for future growth within the Township. The 2023 capital program for Infrastructure Services totals $15.4M. 2023 will also see continued investment in community services assets. The $5.9M program includes key initiatives such as the Nith River Promenade and the pedestrian boardwalk under the Highway 7/8 bridge. The majority of community services capital spending is associated with the recent acquisition of the property at 30 Neville Street. This site will be the future location of Parks and Facilities operations, while also including space for the Wilmot Fire Department administration. Staff were challenged by the Finance and Budget Committee to balance the 2023 municipal budget amidst a high inflation and increased community demands for service. In an effort to strike a balance between the Township's base operational pressures and levy impact on the community, a number of operating and capital costs were deferred to the 2024 budget. An annual review of water and wastewater rates was completed as part of the overall budget process. These fees are intended to cover water distribution and wastewater treatment costs, overall system maintenance costs, and assist in funding future infrastructure replacement. Under the 2023 budget the average bi-monthly bill will increase by 4.59% or $8.81, to move further along the path to full system financial sustainability. The approved budget will include a total levy of $10,643,850, or an increase of approximately $722,860 over the 2022 levy, factoring in assessment growth. The combined impact of the base levy adjustment, the dedicated infrastructure investment, and the special levy for increased levels of service will add $75.53 to the Township portion of taxes on an average assessed residential property. |
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