| 2019 Operating Budget & 3-Year Financial Plan |
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Budgeted |
Actual |
Budgeted |
Projected |
Projected |
Projected |
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Notes |
All costs increase by 2% annually, unless specific circumstances dictate otherwise. |
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2018 |
2018 |
2019 |
2020 |
2021 |
2022 |
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| General Government |
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| Expenses |
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| Salaries, Wages and Benefits |
(257,500) |
(261,000) |
(266,220) |
(271,544) |
(276,975) |
(282,515) |
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CAO, Finance Manager and two clerical staff and all of council |
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| Contracted and General Services |
(7,500) |
(5,700) |
(15,814) |
(5,930) |
(6,049) |
(6,170) |
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10,000 budgeted in 2019 for legal and consultant services for the development of the ICF |
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| Materials, Goods and Supplies |
(15,000) |
(12,500) |
(12,750) |
(13,005) |
(13,265) |
(13,530) |
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| Bank Charges and Short-term interest |
(2,000) |
(2,100) |
(2,142) |
(2,185) |
(2,229) |
(2,273) |
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(282,000) |
(281,300) |
(296,926) |
(292,665) |
(298,518) |
(304,488) |
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| Revenue |
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aleks.nelson:
Does not include ASFF or Foundation requisitions
Net Municipal Taxes |
1,425,000 |
1,430,000 |
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Does not account for changes in assessment value or growth |
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| Government Transfers for Operating |
25,000 |
27,000 |
27,540 |
28,091 |
28,653 |
29,226 |
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| Investment Income |
15,000 |
13,000 |
14,100 |
14,382 |
14,670 |
14,963 |
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Increased return on investments with improving economy |
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| User Fees and Sale of Goods |
47,000 |
49,000 |
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| Penalties and costs on taxes |
17,000 |
20,000 |
20,400 |
20,808 |
21,224 |
21,649 |
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| Other |
- |
29,000 |
29,580 |
45,172 |
46,075 |
46,997 |
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Includes the annual 15,000 payment from the village for financial services |
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1,529,000 |
1,568,000 |
91,620 |
108,452 |
110,621 |
112,834 |
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| Net Revenue (Tax Subsidy) |
1,247,000 |
1,286,700 |
(205,306) |
(184,212) |
(187,896) |
(191,654) |
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| Protective Services |
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| Expenses |
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| Wages Salaries and Benefits |
- |
- |
- |
(25,000) |
(25,500) |
(26,010) |
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Town's share of the new bylaw officer salary |
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| Contracted and General Services |
(30,000) |
(30,000) |
(30,600) |
(31,212) |
(31,836) |
(32,473) |
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Ambulance contract with county |
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(30,000) |
(30,000) |
(30,600) |
(56,212) |
(57,336) |
(58,483) |
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| Revenue |
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| Bylaw tickets |
- |
- |
- |
13,500 |
13,700 |
11,500 |
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It is expected that bylaw tickets will be high initially then fall as residents get used to having a bylaw officer. |
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- |
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| Net Revenue (Tax Subsidy) |
(30,000) |
(30,000) |
(30,600) |
(56,212) |
(57,336) |
(58,483) |
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| Transportation |
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| Expenses |
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| Salaries, Wages and Benefits |
(185,000) |
(188,500) |
(192,270) |
(196,115) |
(200,038) |
(204,038) |
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| Contracted and General Services |
(440,000) |
(445,000) |
(453,900) |
(462,978) |
(472,238) |
(481,682) |
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| Materials, Goods and Supplies |
(155,000) |
(122,500) |
(124,950) |
(127,449) |
(129,998) |
(132,598) |
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| Interest on Long-term Debt |
(170,000) |
(170,000) |
(165,000) |
(160,000) |
(155,000) |
(150,000) |
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(950,000) |
(926,000) |
(936,120) |
(946,542) |
(957,273) |
(968,319) |
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| Revenue |
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| Government Transfers for Capital |
300,000 |
300,000 |
306,000 |
312,120 |
318,362 |
324,730 |
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300,000 |
300,000 |
306,000 |
312,120 |
318,362 |
324,730 |
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| Net Revenue (Tax Subsidy) |
(650,000) |
(626,000) |
(630,120) |
(634,422) |
(638,911) |
(643,589) |
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| Water/Wastewater |
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| Expenses |
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| Salaries, Wages and Benefits |
(97,000) |
(105,000) |
(107,100) |
(109,242) |
(111,427) |
(113,655) |
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| Contracted and General Services |
(87,000) |
(85,000) |
(86,700) |
(88,434) |
(90,203) |
(92,007) |
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| Materials, Goods and Supplies |
(315,000) |
(329,000) |
(335,580) |
(342,292) |
(349,137) |
(356,120) |
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| Interest on Long-term Debt |
- |
- |
- |
- |
- |
- |
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(499,000) |
(519,000) |
(529,380) |
(539,968) |
(550,767) |
(561,782) |
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| Revenue |
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| User Fees and Sale of Goods |
728,000 |
711,000 |
725,220 |
739,724 |
754,519 |
769,609 |
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728,000 |
711,000 |
725,220 |
739,724 |
754,519 |
769,609 |
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| Net Revenue (Tax Subsidy) |
229,000 |
192,000 |
195,840 |
199,757 |
203,752 |
207,827 |
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| Waste Management |
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| Expenses |
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| Contracted Services |
(110,000) |
(106,000) |
(108,120) |
(110,282) |
(112,488) |
(114,738) |
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Includes waste commission membership, tippage and pickup fees |
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(110,000) |
(106,000) |
(108,120) |
(110,282) |
(112,488) |
(114,738) |
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| Revenue |
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| Garbage Fees |
- |
- |
108,120 |
110,282 |
112,488 |
114,738 |
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Cost recovery utility fees now charged for garbage collection |
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- |
- |
108,120 |
110,282 |
112,488 |
114,738 |
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| Net Revenue (Tax Subsidy) |
(110,000) |
(106,000) |
- |
- |
- |
- |
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| Planning and Development |
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| Expenses |
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| Salaries, Wages and Benefits |
(44,500) |
(47,000) |
(47,940) |
(48,899) |
(49,877) |
(50,874) |
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| Contracted and General Services |
(61,000) |
(99,500) |
(116,490) |
(108,520) |
(105,590) |
(107,702) |
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15,000 increase in 2019 and 5,000 in 2020 for consultant fees related to the development of an IDP |
| Materials, Goods and Supplies |
(11,500) |
(10,500) |
(10,710) |
(10,924) |
(11,143) |
(11,366) |
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(117,000) |
(157,000) |
(175,140) |
(168,343) |
(166,610) |
(169,942) |
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| Revenue |
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| Development Levies |
15,000 |
9,000 |
9,180 |
9,364 |
9,551 |
9,742 |
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| Licences and Permits |
8,000 |
10,000 |
10,200 |
10,404 |
10,612 |
10,824 |
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23,000 |
19,000 |
19,380 |
19,768 |
20,163 |
20,566 |
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| Net Revenue (Tax Subsidy) |
(94,000) |
(138,000) |
(155,760) |
(148,575) |
(146,447) |
(149,376) |
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| Recreation and Culture (including FCSS) |
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| Expenses |
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| Salaries, Wages and Benefits |
(57,000) |
(55,000) |
(56,100) |
(57,222) |
(58,366) |
(59,534) |
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| Contracted and General Services |
(119,000) |
(121,500) |
(123,930) |
(126,409) |
(128,937) |
(131,516) |
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| Materials, Goods and Supplies |
(24,000) |
(26,500) |
(27,030) |
(27,571) |
(28,122) |
(28,684) |
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(200,000) |
(203,000) |
(207,060) |
(211,201) |
(215,425) |
(219,734) |
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| Revenue |
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| Government Transfers for Operating |
17,000 |
17,000 |
17,340 |
17,687 |
18,041 |
18,401 |
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| User Fees |
15,000 |
17,000 |
17,340 |
17,687 |
18,041 |
18,401 |
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| Camp Ground Revenue |
27,000 |
29,000 |
29,580 |
30,172 |
30,775 |
31,391 |
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| Transfers from County |
- |
- |
- |
63,360 |
64,628 |
65,920 |
|
30% funding of operating costs from County |
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59,000 |
63,000 |
64,260 |
128,906 |
131,484 |
134,113 |
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| Net Revenue (Tax Subsidy) |
(141,000) |
(140,000) |
(142,800) |
(82,296) |
(83,942) |
(85,620) |
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| Amortization |
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| Expenses |
(400,000) |
(463,725) |
(470,000) |
(479,400) |
(488,988) |
(498,768) |
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| Net Revenue (Tax Subsidy) |
(400,000) |
(463,725) |
(470,000) |
(479,400) |
(488,988) |
(498,768) |
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| Total Revenue |
2,639,000 |
2,661,000 |
1,314,600 |
1,419,252 |
1,447,637 |
1,476,590 |
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| Total Expenditures |
(2,588,000) |
(2,686,025) |
(2,753,346) |
(2,804,613) |
(2,847,405) |
(2,896,253) |
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| Excess Revenue (Shortfall) |
51,000 |
(25,025) |
(1,438,746) |
(1,385,361) |
(1,399,768) |
(1,419,663) |
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| Tax Required to Balance Budget |
51,000 |
(25,025) |
1,438,746 |
1,385,361 |
1,399,768 |
1,419,663 |
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| Add: Debt Principle Payments |
113,000 |
113,000 |
113,000 |
168,500 |
168,500 |
55,500 |
|
Annual payments of $113,000 for previous wastewater distribution upgrades ending 2021 and $55,500 for arena upgrades beginning 2019 ending 2023 |
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| Add: Surplus for future plans |
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|
250,000 |
250,000 |
250,000 |
250,000 |
|
Estimated amount to ensure capital plan is funded. Amount set via policy with the establishment of 10 year plan |
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| Subtract: Amortization Expense |
400,000 |
463,725 |
(470,000) |
(479,400) |
(488,988) |
(498,768) |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Cash Requirements (for Tax Bylaw) |
|
|
1,331,746 |
1,324,461 |
1,329,280 |
1,226,395 |
|
|
| 5-Year Capital Plan Worksheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Planned Capital Additions |
2019 |
|
2020 |
2021 |
2022 |
2023 |
2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Council |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Council Chamber Renewal |
|
|
|
|
25,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Administration |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Photocopier |
|
|
|
7,000 |
|
|
|
|
|
|
|
|
|
|
| Server |
|
|
|
|
30,000 |
|
|
|
|
|
|
|
|
|
| Computer Replacement |
|
|
|
15,000 |
|
|
20,000 |
|
|
|
|
|
|
|
| Asset Management Software |
10,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Public Works |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pickup Truck |
|
|
|
|
|
50,000 |
|
|
|
|
|
|
|
|
| Shop Energy Efficiency Upgrades |
|
|
|
21,000 |
|
|
|
|
|
|
|
|
|
|
| Grader |
|
|
|
|
285,000 |
|
|
|
|
|
|
|
|
|
| Public Works Roof |
|
|
|
|
|
|
100,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Water/Wastewater |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Lagoon Dredging |
|
|
250,000 |
|
|
|
|
|
|
|
|
|
|
|
| 50 Street Water Line |
75,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 50 Avenue Water Line |
|
|
80,000 |
|
|
|
|
|
|
|
|
|
|
|
| 51 Street Water Line |
|
|
|
90,000 |
|
|
|
|
|
|
|
|
|
|
| 51 Avenue Water Line |
|
|
|
|
100,000 |
|
|
|
|
|
|
|
|
|
| 49 Street Water Line |
|
|
|
|
|
110,000 |
|
|
|
|
|
|
|
|
| 49 Avenue Water Line |
|
|
|
|
|
|
120,000 |
|
|
|
|
|
|
|
| Water Reservoir Construction |
|
|
|
|
|
1,500,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Streets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 50 Street Paving |
200,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 50 Avenue Paving |
|
|
225,000 |
|
|
|
|
|
|
|
|
|
|
|
| 51 Street Paving |
|
|
|
250,000 |
|
|
|
|
|
|
|
|
|
|
| 51 Avenue Paving |
|
|
|
|
275,000 |
|
|
|
|
|
|
|
|
|
| 49 Street Paving |
|
|
|
|
|
300,000 |
|
|
|
|
|
|
|
|
| 49 Avenue Paving |
|
|
|
|
|
|
325,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Recreation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mower |
|
|
|
|
30,000 |
|
|
|
|
|
|
|
|
|
| Curling Rink |
|
|
800,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Planned Capital Additions |
285,000 |
|
1,355,000 |
383,000 |
745,000 |
1,960,000 |
565,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Funding Sources |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Beginning Reserve Balance |
530,000 |
|
864,000 |
928,000 |
1,164,000 |
1,047,000 |
756,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| MSI Capital Grant |
319,000 |
|
319,000 |
319,000 |
319,000 |
319,000 |
319,000 |
|
|
|
|
|
|
|
| FGTF Grant |
50,000 |
|
50,000 |
50,000 |
50,000 |
50,000 |
50,000 |
|
|
|
|
|
|
|
| Water For Life Grant |
|
|
|
|
|
750,000 |
|
|
|
|
|
|
|
|
| Total Grant Funds Used |
369,000 |
|
369,000 |
369,000 |
369,000 |
1,119,000 |
369,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| County Transfers |
|
|
225,000 |
|
9,000 |
|
|
The agreed upon 30% of municipal recreation capital costs |
|
|
|
|
|
|
| Donated and Contributed Funding |
|
|
50,000 |
|
|
|
|
Funds raised and donated by the curling club for roof replacement |
|
|
|
|
|
|
| Capital Reserve Contribution from Budget |
250,000 |
|
250,000 |
250,000 |
250,000 |
250,000 |
250,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Borrowing |
|
|
525,000 |
|
|
300,000 |
|
Borrowing for curling rink upgrades (2020) and water reservoir (2023) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Planned Capital Additions |
285,000 |
|
1,355,000 |
383,000 |
745,000 |
1,960,000 |
565,000 |
|
|
|
|
|
|
|
| Ending Reserve Balance |
864,000 |
|
928,000 |
1,164,000 |
1,047,000 |
756,000 |
810,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Notes and Assumptions: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| MSI Capital - $319,000/yr |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| FGTF is $50,000/yr |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Council policy requires $750,000 in reserves at all times |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Filetype Excel XLSX | Posted on 15 Aug 2022 | 3 years ago
