Financial Budget

Where Your Money Goes

Budget

The Town of Minto Council has budgeted capital spending of about $6.1 million this year. There are fewer grants available this year to assist with capital infrastructure projects. However, the Town was successful in its application for funding under the Ontario Municipal Infrastructure Investment Initiative fund to assist with the cost of replacing a bridge on the 16th Line later in 2013 or in early 2014. Minto also receives $260,000 in Federal Gas Tax rebates. It is necessary that the Town of Minto Council undertake long term borrowing to help fund the costs of the water meter installation project and certain other land acquisition and road projects. Even with this new borrowing, debt levels will remain below those of 2009 as debentures from 2002 and 2004 are paid off.

Capital Expenditures

Major capital expenditures planned for 2013 include the building addition on the Harriston Fire Hall, replacement of central computer server, the purchase of a plow truck and service vehicles, completion of the paving of Ayton Road , road work on Clarke Street in Clifford, reconstruction of a portion of Elora Street in Harriston, landscaping around the Clifford columbarium, continuation of work to reduce wastewater infiltration issues in Palmerston, construction of an additional forcemain leading to the Harriston wastewater treatment plant, bringing the new water well in Palmerston on line, installation of water meters in Palmerston and the Minto Pines subdivision, construction of a new soccer pitch and baseball diamond in Clifford, purchase of potential residential and community trail development land in Clifford and south to Greenbush and minor furniture upgrades in parks and downtowns in all communities. The costs to operate the water and sewer systems are paid entirely by user charges, not property tax revenue.

Capital Projects by Department

Capital Projects by department as a percentage of total Capital Expenditures are as follows:

Public Works 29%
Water 18%
Recreation 6%
Economic Development 11%
Fire 15%
Wastewater 19%
Administration & Other 2%

Town of Minto Reserves & Reserve Funds

The Town’s Reserves and Reserve Funds are expected to be about $7.2 million by the end of 2013. The Town continues to receive substantial funding from our partners in the Federal and Provincial Governments, especially in the form of the Ontario Municipal Partnership Fund grant of $1,306,900.