Council to discuss and consider the draft budgets at two-day Finance Committee Meeting, November 28 and 30
The 2024 draft operating and capital budgets for the Municipality of Port Hope have been posted for public review, ahead of the Finance Committee Meetings scheduled for November 28 and 30, 2023.
Budget development
The municipal team has dedicated several months to crafting a preliminary submission for the 2024 operating and capital budgets. This intricate process stands as one of the team's most pivotal responsibilities, demanding extensive planning before it reaches Council for evaluation. In the current phase of budget development, the budgets available on the website are solely those proposed by staff. They provide recommendations for the operating budget, addressing the expenses essential to sustain ongoing operations and service delivery. Additionally, staff members extend their recommendations to the capital budget, encompassing significant project resources and future requirements for municipal assets such as acquisition, maintenance, and replacement.
Significant budget impacts
The 2024 budget faces two main challenges. First, historical underinvestment in infrastructure by the Municipality necessitates a significant boost in funding to ensure the continued smooth operation of our services. Second, the escalation of market prices has a widespread impact on various budgetary components, including expenditures on materials, personnel, fuel, and equipment. Addressing inflation proves particularly difficult for infrastructure, where costs experience a more pronounced increase compared to routine daily expenses.
The levy explained
The Municipal levy refers to the amount of money that a municipal government raises through property taxes to fund its operations and services. The Municipality relies on various revenue sources such as grants, user fees, funding from other levels of government, etc. to cover the costs of providing services. Property taxes are a significant part of this revenue, and the municipal levy represents the total sum of money collected from property owners within the municipality.
The identification of the overall municipal levy does not necessarily translate to an equivalent percentage increase in your property tax bill. The existing tax base encompasses all taxpayers, spanning residential, commercial, and industrial sectors. Approximately half of your property tax bill is allocated to meet the specific requirements of Port Hope, while the remainder is distributed to Northumberland County and local School Boards. The additional amount you contribute is contingent upon factors such as your property's assessed value relative to others in the community, your location in an urban or rural area, the services you receive (such as policing), and the extent of growth our community experiences with the influx of new residents and businesses.
Proposed levy
If the proposed budget is adopted, residents in the urban area of the Municipality would see a 7 percent increase in their property tax bills. Residents in the rural area would see a 7.3 percent increase. It's crucial to note that these figures are part of a proposed levy increase. The ultimate impact on municipal taxes will be determined by Council, subsequent to their deliberations on the budget and final decisions regarding the levy's effect. Final decisions will be communicated through the Municipality's regular communication channels.
Council budget discussions
Council will convene for a two-day Finance Committee meeting starting at 9 a.m. on Tuesday, November 28, and continuing at 9 a.m. on Thursday, November 30, 2023, in the Council Chambers at Town Hall. During this session, Council will thoroughly examine, evaluate, and discuss the proposed 2024 budget. The meeting is open to the public and will be live streamed on the Municipality’s YouTube channel.
Following the Finance Committee meetings, Council will reach a final decision on the budget in an upcoming Council session. The anticipated date for the conclusive decision on the 2024 Budget is the Council meeting scheduled for December 5, 2023.
Community engagement
Community engagement on the budget has been ongoing for several months. Public presentations on budget plans took place on July 4 and September 19. An in-person budget community engagement session was held on November 8 and the Mayor hosted a budget coffee chat on November 13.
Community engagement opportunities for the budget development process continue. The budget survey opened on November 1 and remains open until end of day on November 27. Visit myporthope.ca/2024-budget to participate in the draft budget survey. Members of the public can also attend the public Finance Committee meetings. As always, contact a member of Council if you have a question or want to discuss the budget or any other municipal issue.
2023-11-17
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