Meaford Council is adopting its 2022 budget framework and is instructing staff the take the next steps.
During a recent council meeting, a report from Meaford Treasurer/Director of Corporate Services Darcy Chapman explains the proposed framework would see the average homeowner with a property assessed at $272,000 pay an additional $91 on their annual tax bills — a 4.2 per cent increase.
Staff have been directed to prepare a draft budget that includes one per cent dedicated tax levy increases for roads capital funding, bridge/structure funding and salaries.
The 2022 Meaford budget framework also directs staff to include a 0.5 per cent dedicated levy increase for facility capital funding.
Council also approved the over $348,000 for road resurfacing projects, the allocation of over $335,000 for the Bayshore Road Asphalt Resurfacing and Drainage Works project, and the allocation of over $916,000 towards the Gillies Bridge. All the funds are coming from federal and provincial grants in 2021 and 2022.
To assist with the mitigated funds encountered in 2020 due to Covid, over $195,000 went to costs and lost revenues, with over $334,000 going to cover other shortfalls and added operating costs encountered in 2021. These moves will ensure Meaford will not enter into a deficit at the end of the year.
While the budget is being worked on now, it’s not expected to be finalized until early next year.
