PETROLIA COUNCIL APPROVES 2018 BUDGET – SEWER RATES DOWN BY 10%, TAXES UP 1%
Posted: November 29, 2017
Senior staff at Petrolia Town Hall presented Town Council with a budget in October proposing a modest 1% tax increase on the municipal portion of taxes for property owners. This proposed increase speaks to the commitment of staff to work as efficiently as possible, and takes into consideration the proposed changes to minimum wage.
The small margin of increase was very challenging and included consideration of the proposed minimum wage increase to $14 per hour for 2018 (approximately $68K increase to the Town’s Operating budget). A facilities maintenance plan has been implemented and broken out to enable better future planning. OMPF (Ontario Municipal Partnership Fund) for 2018 has decreased by $136K. Despite a few financial challenges for the upcoming year, the Town will be able to transfer $856K into working capital reserves (up from 2017’s transfer of $771K).
Part of the 2018 Budget, that passed at the regular meeting of Council Monday night, includes that sewer rates be reduced by 10%, and a further 5% in 2019. Water rate increase will hold steady at a small proposed increase of 2%, which keeps Petrolia as the fourth lowest combined water/sewer rates in Lambton County. This reflects a $2100 savings for the average household over 10 years.
Capital expenditures of $1.612 million, including new wayfinding signs for Victoria Park, Victoria Hall maintenance for carpeting, HVAC maintenance, Fire Department radios, and a wood chipper, Phase Two of the Florence, Egan and Kerby Street road section, sidewalk repairs and road maintenance.
Mayor John McCharles said, “Staff have worked very hard to make sure that the 2018 budget reflects efficiencies, and that it speaks to our greater goals as a Council and staff for effective management of tax dollars.”
For more information:
Director of Corporate Services/Treasurer
Town of Petrolia
411 Greenfield Street
Petrolia, Ontario, N0N 1R0
Phone: (519)882-2350 Ext. 225