Budgets & Business Plans
Current Budget
2021 Budget & Business Plan Documents
- 2021 Budget Book
- 2021 Budget Quick Reference Guide
- Reference Report 2021-1 - Water and Wastewater Rate Study - By Watson (Jan 11)
- Budget Presentation - January 20, 2021
- 2021 Budget Presentation - Committee of the Whole
- 2021 Departmental Budget Presentations - January 25, 2021
- 2021 Water and Wastewater Rates - February 8, 2021
- Modernization Grant Report
Budget Timeline
| Budget meeting | Date and time |
Presentation of 2021 Water & Wastewater Study The Township of King's 2021 Water and Wastewater Study will be presented at the January 11, 2021 Committee of the Whole Meeting. This presentation will be provided by the Township’s consultant, Gary Scandlan, Watson and Associates Economists Ltd. | Jan. 11, 2020 - 6 pm* |
Virtual Public Engagement Centre King Township will host a virtual Public Information Centre on Jan. 20 from 6 to 8 pm to provide information on the draft 2021 budget and gather feedback. More information on how to register will be provided in the new year in the Weekly Sentinel, on this page and at speaking.king.ca. Pre-registration is required. | Jan. 20, 2020 - 6 pm - 8 pm* |
Council Working Session and Meeting The Township of King’s preliminary assumptions, feedback received to date, context and strategic directions relating to the Draft 2021-2022 Budgets & Business Plans will be discussed. (*Council may elect to approve the draft budget at this meeting thereby not requiring the budget item on February 8, 2021) | Jan. 25, 2020 - 5 pm* |
Council meeting Consideration of By-Law for Adoption: 2021-2022 Budgets and Business Plan (*if required - see January 25 above). The Township of King adoption of the 2021 Operating Budget & Business Plan and 2021-2022 Amended Capital Budgets, will be tabled. Consideration of By-Law for Adoption: 2021 Water & Wastewater Rates. The Township of King Water and Wastewater Rates Report will be presented at the February 8, 2021 Committee of the Whole Meeting. The By-Law will be considered by Council for adoption at the Monday February 8, 2021 Council Meeting. | Feb. 8, 2021 - 6 pm* |
* All council meetings are live streamed on our Youtube channel at https://youtu.be/VN53kBR2Me0.
Previous budgets
Annual Budget
As per section 290(1) of the Municipal Act, 2001, “for each year, a local municipality shall, in the year or the immediately preceding year, prepare and adopt a budget including estimates of all sums required during the year for the purposes of the municipality, including,
- Amounts sufficient to pay all debts of the municipality falling due within the year;
- Amounts required to be raised for sinking funds or retirement funds; and
- Amounts required for any board, commission or other body.
Township Council is thus required to approve a balanced budget each fiscal year that must be finalized and approved prior to final property tax bills being issued.
The operating budget includes annual expenditures for personnel costs, materials and supplies, contracted services, minor capital, debt charges, reserve transfers and program fees.
The Township’s capital budget includes expenditures and financing sources to acquire, construct, maintain and facilitate Township capital assets such as: roads, bridges/structures, water distribution and wastewater collection systems, recreational facilities and administrative facilities.
Budget Process
The Township adopted a new budget process for 2011, which was aimed at providing decision makers, Members of Council, with more information (qualitative and quantitative) to ensure that an informed decision regarding the 2011 budget could be made.