Home Shoreline News Saugeen Shores Council receives Report on 2023 Capital & Operating Budget

Saugeen Shores Council receives Report on 2023 Capital & Operating Budget

Total levy is $20,989,461or an increase of 6% for 2023. This would mean a $123 increase of taxes on an average home of $314,000. Reserves were utilized to the tune of $445,000.

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The Town of Saugeen Shores Council received a Final Report on the 2023 Budget for the Municipality at Monday’s Council Meeting.

In the report Director of Corporate Services Jim Bundschuh outlined that the current budget would see a total levy of $20,989,461 or an increase of the levy of 6%.

This would mean $123 increase on an average home of $314,000.

Reserves were utilized to the tune of $445,000.

There was also an additional usage of the reserve of $25,000 for the Police Services Board for a Consultant.

The levy combined with other revenue & other funding of $21,397,584 will mean net income of $10,027,049 for the Town.

The spending of reserves for Capital Expenditure will mean a reduction in reserves from $50.8 million at the beginning of this year to $45.5 million by the end of 2023.

Council will vote on the budget on March 13th.

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