Oakville Council approves 2011 budget and identifies $3.4 million in reductions

Tuesday, March 08, 2011 – for immediate release

Oakville Council approves 2011 budget and identifies $3.4 million in reductions

Total tax increase below current rate of inflation

Council approved a 2011 operating and capital budget of $311.1 million following careful consideration of more than 50 reduction options brought to the table to minimize the financial impact on Oakville taxpayers. More than $3.4 million in reductions, operating efficiencies and new revenues echoed Council’s direction to ensure that all total property tax increases are in line with inflation during the 2011-2014 term of Council.

Oakville homeowners will pay less in town taxes this year than initially forecast. The approved 2011 budget will see the town’s portion of the levy rise by 5.93 per cent. The overall tax increase is below the current provincial rate of inflation with the total property tax increase including the regional and educational components being 2.79 per cent—or about $27 per year for each $100,000 of assessment.

“We had an exceptional level of public input into our budget process this year. Council was asked by the public to reduce the impact on taxes while protecting core front line services. This budget balances these two demands by delivering valued services while keeping the overall tax increase below the Ontario rate of inflation of 2.9 per cent,” said Councillor Tom Adams, chair of the Budget Committee. “I’m pleased that Council agreed with the recommendation to prepare the 2012 to 2014 budgets with total tax increases in line with inflation.”

Over $2.1 million in reductions and new revenues to lessen the impact on taxpayers include an earlier finish to weekday transit service hours ($94,600); discontinuation of various advisory committees ($50,000); transit fare increase ($159,400); increase in adult ice rental rates ($70,000); temporary closure to Woodside Library during renovation ($50,000); reduction in town advertising ($70,000); and increases to Oakville Hydro dividend, supplementary tax revenue and investment income ($850,000). In addition, $1.3 million in efficiency savings were identified.

“I’m very happy with the successful use of performance-based, program-based budgeting by Councillor Adams and town staff to drive a value and efficiency culture of fiscal management that has carefully managed the operationalization of our big catch up in community facilities without letting the total tax impact exceed inflation in Ontario,” said Oakville Mayor Rob Burton. “Residents expect us to show measurable value for their tax dollars. This budget achieves the right balance between service and savings.”

Key capital spending projects include $15.3 million for the completion of the new transit facility; $10.9 million for the completion of Queen Elizabeth Park Community Centre; $4 million for road rehabilitation; and $16.6 million for the expansion of road capacity.

For more information visit the 2011 Budget page.

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Media contacts

Nancy Sully
Deputy Treasurer and Director of Financial Planning
905-845-6601, ext. 3143
nsully@oakville.ca

Janine Ivings
Senior Communications Advisor
Corporate Communications
905-845-6601, ext. 3005
jivings@oakville.ca


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Original article: 

Oakville Council approves 2011 budget and identifies $3.4 million in reductions