Budget and Business Plan
The Village’s Budget and Business Plan acts as the financial foundation to build and maintain infrastructure and deliver services available to the community.
Every year the Village develops and adopts a Budget and Business Plan to guide activities and expenditures, as well as establish the amount of revenue required from taxation. This key document is developed to ensure activities are aligned with strategic priorities. Roads, bridges, facilities, winter control, fire protection, recreation and a variety of other services are all funded based on the adoption of the Budget.
The Village’s Financial Statements include all assets, liabilities, equity, revenues and expenditures that are under its care and control. Financial Statements are audited yearly by a professional accounting firm to ensure that they provide an accurate presentation of the Corporation's financial position.
Financial reporting is completed to help with decision making and increase public accountability and transparency.
2018 Budget Overview
The Council for the Village of Burk’s Falls passed the 2019 Capital & Operating Budget on May 21, 2019.
The Budgeting process is a detailed and collaborative effort between all departments in your Municipal Government: Council, Treasury, Administration, Recreation & Public Works. A series of meetings are held between these departments to formulate and prepare a draft budget for Council’s consideration. Public meetings were held and directives from Council communicated to finalize the budget based on these Public meetings. A final budget is then presented to Council and passed via by-law.
The 2019 Budget has an average increase of 2.0% for residential properties. As an example, a residential property with a median assessed value of $139,500 will incur an increase of $14.17 in 2019.
The Village of Burk’s Falls has been successful over the past 5 years in securing funding from Provincial and Federal agencies for infrastructure projects in the amount of $10 Million that has allowed for such projects as water-main replacements, road resurfacing, new water tower, new Yonge Street bridge and the rehabilitation of the Armstrong (Ontario Street) bridge and the rehabilitation of Ontario Street which included watermain and service replacements, new sidewalks and road resurfacing. This project will kickstart the overall revitalization of the downtown core that will be initiated beginning in 2019.
The Council of the Village of Burk’s Falls is sensitive to the concerns of all ratepayers when it comes to property tax increases. Every effort is made to achieve the best possible service levels and value at the lowest possible attainable costs. Various costs in the budget are imposed levies that the Village has no control over and must be passed along to the ratepayers, for example Land Ambulance and Policing.
Should you have any questions regarding the 2019 budget, please contact the Municipal Treasurer, Allan Holder.
Strategic Asset Management Policy
The Corporation of the Village of Burk’s Falls is committed to providing service to residents in a fiscally responsible manner that supports a healthy and vibrant community. With this commitment in mind, assets must be managed in a way that allows the Village to achieve its goals, plans and policies. Asset Management can be described as an integrated business approach within an organization that aims to minimize the lifecycle costs of owning, operating and maintaining assets at an acceptable level of risk, while delivering continuous established levels of service for present and future stakeholders. Infrastructure can be prioritized over time, ensuring Village assets are maintained while minimizing repair and rehabilitation costs.
To learn more about the Villages Strategic Asset Management Policy please refer to the downloadable document below.