2012 Tax and Rate Budgets

2012 Tax and Rate Operating Variance Reports

Staff have committed to provide Council with three variance reports for the Tax and Rate Operating Budget during the fiscal year (Spring/Fall/Year-End).

Tax and Rate Operating Budget Variance Report to April 30, 2012 (PDF, 191 KB)
The Spring variance report was received by the General Issues Committee on July 9, 2012.  Tax supported operations projected an unfavourable variance of -$1.8 million, while Rate supported operations forecasted a surplus of $3.1 million.                

Tax and Rate Operating Budget Variance Report to July 31, 2012 (PDF, 210 KB)
The Fall variance report was received by the General Issues Committee on October 17, 2012.  Tax supported operations projected an unfavourable variance of -$2.9 million, while Rate supported operations forecasted a surplus of $5.1 million.                

Draft Tax and Rate Operating Year-End Variance Information Report (PDF, 248 KB)
Draft Tax and Rate Operating Year-End Variance Presentation (PDF, 33 KB)
A draft Year-End variance information report was received by the General Issues Committee on March 7, 2013. Staff forecasted the total surplus for tax supported services as $2.7 million and the total surplus for rate supported services as $8.7 million.

2012 Approved Consolidated Budgets 

On April 11th, 2012 the General Issues Committee approved the 2012 Tax Operating Budget which included a 0.9% property tax increase for residents, while the 2012 Capital Budget of $227 million had already been approved on December 14th, 2011.  Separate capital and operating budgets for water, wastewater and storm services have been established and were approved by Council with a rate increase of 4.25%.  View the Final 2012 Approved Operating and Capital Budgets (PDF, 375 KB)

2012 Approved Tax Capital Budget

The 2012 Tax Supported Capital Budget was approved by Council December 14, 2011 and supports approximately $227 million in infrastructure investments.

2012 Approved Rate Budget

The 2012 Water, Wastewater and Storm Budget reflects Council's ongoing commitment and dedication over the past decade to implement a sustainable financing plan while bridging the divide between funding shortfalls for necessary infrastructure with affordable water rates. This budget calls for a continued commitment through the adoption of an approved rate increase of 4.25% or approximately $24.00 per household annually