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Municipal Budget & Financial Information


   BUDGET AND FINANCIAL INFORMATION


MUNICIPAL BUDGET

Every time your street is plowed, your garbage or recycling bin is collected, visit a park or arena, you are witnessing your tax dollars at work.  Municipal budget decisions set the funding for important infrastructure, programs, services, and facilities we depend on to maintain our quality of life.

A municipal budget is a policy and planning document that outlines our Municipality's priorities, and is a balancing act between often competing priorities - what can we afford and providing a high level or services to citizens.

Every year, Municipal staff put forward a preliminary budget and then the Mayor and Council, with input from Middlesex Centre residents, and businesses make choices about Municipal services and programs.  It is an ongoing process as each year Budgets are drafted, revised, reported, presented, approved, adopted, and monitored.  Your annual budget is made up of three parts:

(1)  The operating budget provides the necessary resources to deliver programs, services and facilities services to meet the needs of our growing community, and accommodates for inflationary pressures.  The operating budget is funded primarily through property taxes and user fees.Every year, Municipal staff put forward a preliminary budget and then the Mayor and Council, with input from Middlesex Centre residents, and businesses make choices about Municipal services and programs. It is an ongoing process as each year Budgets are drafted, revised, reported, presented, approved, adopted, and monitored. Your annual budget is made up of three parts:

(2)  The capital budget provides for the infrastructure requirements of the Municipality as identified in our Asset Management Plan.  The capital budget is funded through property taxes, reserves, development charges, debt and grants.  The capital budget is used to either build or rehabilitate assets that will last for more than one year.

(3)  Reserves and reserve funds receive annual contributions from the operating budget to assist with creating a solid financial position to support the Municipality’s future cash requirements.  Maintaining sufficient balances in reserves and reserve funds is a critical component of a municipality’s long-term financial plan as it strengthens its long-term financial sustainability, helps to minimize fluctuations in the tax rate and provides funding to sustain infrastructure.

Video on Municipal Budget Basics (courtesy of City of London)

 Budget Information

2019 Capital Budget Presentation - Presented November 19th, 2018
2019 Capital Budget Presentation
- Presented November 5th, 2018


2018  Council Budget Booklet

2018 Capital Budget Presentation (Capital Budget to Actual Presentation - July 2018)
2018 Capital Budget Presentation (Capital Budget to Actual Presentation - September 2018)
2018 Operating Budget Presentation
2018 Budget Survey - Questions and Comments Answered
2018 Budget Survey - Results Presentation

Capital Projects

2018 Capital Projects
2017 Capital Projects
2016 Capital Projects

 Historical Budgets

2017 Budget (Presentation, Tax Rate By-law)
2016 Budget
(Presentation, Tax Rate By-law)
2015 Budget (Presentation, Tax Rate By-law)
2014 Budget (Presentation, Tax Rate By-law)
2013 Budget (Presentation, Tax Rate By-law)


Long Range Financial Plan

 FINANCIAL INFORMATION

Reserves and Reserve Funds

Reserve and Reserve Fund Policy (By-Law 2017-070)


Development Charges Overview

Development charges apply to residential and non-residential developments. The purpose of development charges is to recover the growth-related costs associated with the capital infrastructure needed to service new development and redevelopment within the municipality.

2018 Development Charges Flyer/Brochure
2017 Development Charges Update Study
2014 Development Charges Background Study


2015 Development Charges - Treasurer's Statement
2016 Development Charges - Treasurer's Statement
2017 Development Charges - Treasurer's Statement


Financial Statements

These statements offer a snapshot of the Municipality’s books of accounts at year-end and a financial summary of its operations, includes the independent auditor’s report, which is filed every year as required by law.

2017 Financial Statement
2016 Financial Statement

2015 Financial Statement
2014 Financial Statement
2013 Financial Statement
2012 Financial Statement

Financial Information Returns

The Financial Information Return (FIR) is a standard set of year-end reports which capture financial and statistical information for each Municipality in the Province.  Every Municipality in the Province will complete and submit a Financial Information Return to the Ministry each year.

Ministry of Municipal Affairs and Housing - Financial Information Return

Asset Management

Asset Management Plan (December 2013), Appendix A
Asset Management Plan Presentation (December 2013)

 Tax Rate Information

2018 Tax Rate Summary
2017 Tax Rate Summary
2016 Tax Rate Summary

 Middlesex Centre Regional Medical Clinic Financial Statements

2017
2016

2015