The Town of Collingwood has approved its budget for this year.
“Staff worked hard to bring forward the 2018 budget, through a process which included consideration of increased efficiencies and which was guided by the Community Based Strategic Plan goals, and which provided accountability for taxpayers’ hard-earned dollars,” said Mayor Sandra Cooper. “It was a pleasure to work through the process this year, and I appreciate that very much.”
The 2018 budget is comprised of $55.8 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.
The total capital expenditures approved are $27.0 million. Capital expenditures relate to projects and expenses where the benefits can be seen over many years, including facilities, vehicles, and parks. The majority of the Town’s capital expenditures are considered non-tax supported, and consist of capital projects that are financed through user rates (such as water and wastewater), user fees (such as building permits) or fines (such as parking).
Roads and public transit have significant capital expenditures, including improvements at the intersection of Third and High Streets ($3M) vehicle replacements ($1M) and asphalt resurfacing ($500,000).
Parks, Recreation and Culture’s capital projects in 2018 include playground replacements ($600,000), Heritage Park improvements ($580,000), Central Park baseball lights ($200,000) and phase two of the Promenade Dock ($150,000).
General Government consists of municipal facilities and administrative support. Capital projects for 2018 include strategic land acquisition ($350,000), Town Hall refurbishment ($200,000) a backup generator ($200,000) and IT support ($172,500).