Town of Collingwood approves 2020 Capital & Operating Budget
Town commits significant funding to
infrastructure upgrades & customer service enhancements
At the Tuesday, December 17 Special Council meeting, Town of Collingwood Council approved the 2020 Operating & Capital budgets. Council and Staff thank all residents and stakeholders who participated in public meetings and online engagement, providing valuable feedback through the budget review process.
Mayor Brian Saunderson commented, “With this budget, the Town strives to balance the needs of current residents and the challenges of our community’s unprecedented growth and mounting investment needs, with finding opportunities for service efficiency, business attraction, and enhancements to our waterfront and public spaces. The Town continues to commit significant funding to infrastructure upgrades and customer service enhancements. I would like to thank our staff for their hard work on this budget and for moving us forward on a fiscally responsible path.”
The 2020 operating budget is comprised of $59.7 million in operating expenses, which accounts for the costs required to provide services (such as transit, recreation, and roads), as well as staffing and administrative costs.
Total capital expenditures approved for 2020 come in at $32.8 million. Capital expenditures relate to projects and expenses where the benefits can be seen over many years, including facilities, vehicles, and parks. New infrastructure in Roads, Public Transit, and Parks and Recreation are significant capital expenditures for 2020.
For the average residential property assessment of $324,385, the municipal portion of taxes will increase 1.09% and the Capital Levy will increase 0.04% for a combined total of 1.13% or approximately $25.
Marjory Leonard, Treasurer for the Town of Collingwood, said, “Town Staff work to create a fiscally responsible budget that reflects Council’s strategic direction while keeping the tax burden to a minimum.”
Consultation has concluded