- Salaries and benefits
- Contracted services
- Local board levies
- Materials and supplies
- Repairs and maintenance
- Debt repayments
- Equipment & Furnishings
- Computer hardware and software
- Tax levy
- User fees
- Investment income
- Tax levy
- Engagement will be conducted online starting in August.
- A survey is available for participation online and hard copies are available at all 3 Township arenas and the Township Administrative Office.
- A Q&A portal is available on the 2024 Budget page on EngageGB for staff to answer any questions.
- An in-person public engagement session will be held on August 24th from 3:00pm - 7:00pm at Grey Roots Museum for community participation.
- Any other comments or concerns regarding the budget can be submitted to email@example.com
What is a budget?
Merriam-Webster Dictionary: “A statement of the financial position of an administration for a definite period of time based on estimates of expenditures during the period and proposals for financing them.”
A Capital Budget and Forecast is where the Township plans for upcoming years and identifies how to pay for Township infrastructure projects, such as road reconstruction, park improvements and public buildings.
The Operating Budget encapsulates the Township's plans for day-to-day operations, including salaries, utilities and supplies to deliver Municipal services.
How is the Budget Prepared?
Traditional budgeting – a technique in which all expenses are based on the previous year’s budget and are reviewed/adjusted annual based on new expenditures/revenue
Zero-based budgeting – a technique in which all expenses must be justified for a new period or year starting from zero versus starting with the previous budget and adjusting it as needed
While preparing the 2024 budget, a combination of traditional and zero-based budgeting is utilized. Traditional budgeting is used for items such as materials and supplies, user-fee revenues as without historical trends the amounts are indeterminable. Zero-based budgeting is utilized for expenditures such as salaries and benefits, insurance and grant revenue as the amounts are independent from previous years.
What makes up a Budget?
Operating - Funds incurred to provide core services at the same level as prior year
Capital- Physical infrastructure – replacement/new
Enhancements - Increases to the currently provided levels of service
Funds earned to pay for the expenses
What are Operating and Capital Expenses?
EXAMPLES OF OPERATING EXPENSES
EXAMPLES OF CAPITAL EXPENSES
How do we pay for Municipal Expenses?
CAPITAL AND ENHANCEMENTS REVENUES
Where do my property tax dollars go?
The breakdown of taxes in Georgian Bluffs is as follows:
What is a Reserve?
Reserve: An allocation of accumulated net revenue that makes no reference to any specific asset and does not require the physical segregation of monies
Discretionary Reserve Fund: A reserve fund created at the discretion of Council whenever revenues are earmarked to finance future expenditures
Obligatory Reserve Fund: A reserve fund that is required by legislation or agreement for a special purpose
How can I give input on the Township’s budget?
The 2024 Budget hub on EngageGB includes the latest news, updates, and engagement opportunities relating to next year’s budget:
Feedback will be received until September 30th and will be shared with Council in November 2023.
How are house values assessed?
The Municipal Property Assessment Corporation (MPAC) assesses all properties in Ontario. The assessed value is based on valid property sales in your community. This method of assessment is called the Current Value Assessment.
If you have questions about your assessment, call MPAC at 1-866-296-6722 or visit the MPAC website. For property-specific inquiries, visit the About My Property section to view information on your property, access your property assessment notice, and compare your property to others. If you disagree with your assessment, you can file a Request for Reconsideration (deadlines applicable).