Quinte West’s 2020 operating budget has officially been passed by council.
There was little to no discussion when the motion came up on Monday night, with councillors approving the $81.3 million spending plan, which includes a 1.93% tax increase.
That works out to about $5 extra on the monthly tax bill of a home valued at $254,000.
While there were no changes to the overall figures, Director of Finance David Clazie says an unexpected increase in service costs from Hastings County means that an extra $254,000 or so had to be moved to cover that, without affecting the tax increase.
Staff had estimated $9,585,000 in service costs from the county, which actually came out to $9,839,600, so council decided to redirect a proposed $200,000 grant from Trenval towards that and cover the remaining $54,600 by increasing bank interest revenues.
Clazie says if the city decides to grant money to Trenval at a later date, they can work out a plan to pay them at that time.
You can click here to see our previous story, with more detailed information on the budget.
