February 11, 2014
For immediate release
Efficiencies Enable County to Hold the Line on 2014 Budget
CENTRAL ELGIN – Elgin County Council today approved a $62,000,000 million operating budget, representing a four per cent levy increase in County taxes on the average home or approximately $32 more for the year. An average cost home with no increase in assessment will actually see a $7 or 0.5% decrease in County taxes due to the positive impact of economic growth.
The budget is in-line with Council’s strategic vision to maintain service levels and an affordable tax increase in the face of significant losses of revenue from the Ontario Municipal Partnership Fund, the St. Thomas Ford Assembly Plant property tax and, in 2014, a decline in the Federal Gas Tax funding.
“Council has led staff in the delivery of $3 million in efficiencies over the last five years,” said Elgin County Warden David Marr. “These efficiencies will enable the County to absorb the impact of increased cost pressures and declining revenues, while maintaining the vision of an affordable tax increase. In addition, reserves are being drawn down to lessen the impact”.
•$1.7 million in budget surplus from 2013, that will be applied to the 2014 budget to reduce the impact on ratepayers;
•A $250,000 contribution to the St. Thomas Elgin General Hospital project, bringing the County’s contribution amount to a total of $1.5 million;
•$11 million in 2014 capital infrastructure improvements, such as renovations to Terrace Lodge, POA Courts and the Administration Building;
•Continued investment in satellite business centres in eastern and western Elgin.
For additional information, please contact:
Jim Bundschuh, Director of Financial Services
631-1460 x 141