King Township approves municipal tax base increase of zero per cent and 0.75% for increased service enhancements
2022 Budget Documents
- 2022 Budget Book
- 2022 Budget Presentation - November 9th, 2021
- 2022 Budget Presentation - November 15, 2021
- 2022 Water and Wastewater Rates Presentation - January 10, 2022
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.
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.