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.