The City of Quinte West’s proposed operating budget for 2020 totals $81.3 million, which is about $4.68 million more than what was planned to be spent last year.
The city ended up spending almost $79 million in 2019, which was slightly over budget.
Director of Finance David Clazie gave councillors a first look at the operational spending plan on Monday night and says they’ll be able to cover all expenses with just a 1.93% tax increase across all wards.
That will mean about $5 extra on a monthly tax bill for a home valued at $254,000, with the breakdown as follows:
A breakdown of Quinte West’s budgeted tax increase for 2020 by ward. (Photo: Submitted / City of Quinte West)
A breakdown of tax rate changes based on various classes other than residential is available below.
The budget sees a number of increases compared to 2019 including $1.3 million more in salaries and benefits for city employees (total of $21.2 million) and an extra $1.05 million for payments to external agencies like Hastings County (total of $23 million).
The city will also spend $9.27 million on contract services and $1.05 million for various approved grant requests, including the following:
Some examples of grant payments that have been budgeted for by the City of Quinte West in 2020. (Photo: Submitted / City of Quinte West)
The city is also going to make more this year, with revenues up about $435,000, totalling $4.75 million.
That’s mostly due to a jump in money earned through new building permits, $60,000 in bag tag revenue and $250,000 from the municipal accommodation tax, which is split with the Bay of Quinte Regional Marketing Board.
Clazie says the city is planning to bring in about $2.85 million from taxes and was also able to transfer an extra $1 million into reserves, for a total of $11.8 million.
Mayor Jim Harrison says despite the increases, councillors seem content with the spending plan.
Council has decided it won’t need another special meeting to review the operating budget and Clazie will bring a final report back on March 2nd.
You can click here to read the full 2020 budget report and click here to see a full line-by-line breakdown of the budget.
The full budget meeting agenda, with links to all reports, can be found by clicking here.
A breakdown of Quinte West’s budgeted tax increases for 2020, by class. (Photo: Submitted / City of Quinte West)
