Bruce County Council discussed the budget in yesterday’s Corporate Services Committee Meeting.
The council received a report from Edward Henley, Director of Corporate Services on proposed changes to the 2023 budget to reduce the levy increasing from 10.57% previously to 7.68%.
Changes proposed by Staff included withdrawing $525,000 from the Waste Management Future Planning Reserve and using $100,000 of that to Capital Road Reserve, $375,000 to Tax Stabilization Reserve and to fund the 2023 Operating Budget and $50,000 used to fund the Municipal Innovation Council for 2023 only, after which the funding would be withdrawn.
Much discussion was had opposing the use of Waste Management funds to lower the tax levy increase.
The source of funding was changed to the Tax Stabilization Reserve at $425,000. This leaves that fund at $1.26 million dollars.
The balance of the Waste Management Future Planning Reserve currently sits at $1,055,000 prior to any withdrawal.
These funds were not budgeted for use during the 2023 to 2027 budget & forecast period.
The motion was amended to $62,000 crack & seal work and $69,900 for guardrail maintenance to bring the tax levy increase to 7.91%
The motion was carried.
Although named for Waste Management, staff says the reserve can be used at the discretion by Council.