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Council Takes A First Look At Woodstock's Budget

Friday, 16 February 2018 05:03

Revenue budget talks have begun in Woodstock City Council Chambers.

WOODSTOCK - Woodstock City Council has had their first look at a possible Revenue Budget for 2018.

This document details how much the city services will cost throughout the year, and how much money will be collected through taxes.

CAO David Creery says the expenditures are approximately $73 million at this point.

"This is the base budget, so this budget represents the existing care programs. It's the same as a  budget with the same level services from last year, with the additional cost of delivering it in 2018."

The tax levy is about $52.5 million, which is an increase of over 4 percent when compared to 2017. Creery says the actual tax rate in the city should actually decrease by 1.31 percent.

"The reason for that is primarily the result of the amount of growth the city has enjoyed in the last year. The growth has essentially outpaced the amount of the levy increase so that's producing a tax rate decline."

There's two budget meetings scheduled in council chambers next week; one on Tuesday February 20th and the other on Thursday February 22nd. Both meetings will be open to the public with 5:15pm start times. They will also be videotaped and posted online for those who can't attend.

After that there will be a five week deliberation process, before council can approve it at their meeting on March 22nd.
 

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