Each municipality is required by legislation to prepare and adopt an annual or multi-year budget. The Town of Nanton budget has three components; operating budget, capital budget, and allocations to reserves. The budget is based on the services and activities which fulfil the Town Council’s strategic plan.
The Operating Budget is a detailed estimate of expenditures needed for services such as road repair, water and waste water provision, park maintenance, recreational programming, etc.Expenditures are partially off-set by revenues such as user fees, franchise fees, and rentals.
The Capital Budget compliments the Operations Budget by providing cost estimates for projects which increase the physical (tangible) assets of the Town that are used to provide services and programs; for example buildings, machinery, roads. The greatest percentages of these projects are funded by grants and reserves.
Finally the budget process determines what funds will be placed in the Town’s reserves for future use. Reserves are used to fund unexpected expenses (contingency reserves) or to save over time for major capital projects (capital reserves) such as replacing roads or significant building upgrades.
The three elements come together and the net amount is the municipal tax required to support the budget.
TOWN OF NANTON BUDGET 2017
Grants, Debentures & Transfer from Reserves
Transfer to Reserves
Debt Repayment by Taxation - Principle
NET FUNDS REQUIRED FOR MUNICIPAL OPERATIONS
Each department is responsible for their budget by determining projected revenues and expenses. Once the difference of revenues offsets the budgeted expenses, the difference equals the total amount of tax required to support the budget.
Legislative Services (Council)
Protective Services (Fire & Bylaw)
Planning & Development
Marketing & Communications
Parks & Recreation
Culture, FCSS, Public Health
Keeping rates as minimal as possible was one of the top priorities for the 2017 budget while ensuring that services remained the same and considering the impact of the carbon tax and the current economy. The budget was approved with a small increase of 1% from the previous year. Some of the top capital and operation projects include:
Completion of the waste water treatment plant
Continue with valve and hydrant replacement
throughout the Town
Further upgrades to improve the water treatment plant
Upgrades to the THRC
Major Operational Initiatives
Canada 150 Celebrations
Employee safety program
Upgrades to shrub and tree beds
Continuation of alley upgrades
Continue review of the Municipal Development Plan
Review and creation of standards policies
Increase in grants to support services provided by