Every year each municipality is required by legislation to prepare and adopt a multi-year budget. The Town of Nanton budget has three components:
Operating Budget- is a detailed estimate of expenditures needed for services such as road repair, water and wastewater, parks maintenance, recreational programming, etc. Expenditures are partially offset by revenues such as utility billing, facility rentals and other things (fines, licensing, interest, etc.).
Capital Budget- works alongside the Operations Budget. This budget is used to ensure physical assets (buildings, machinery, roads) are available to support the provision of services and programs. A majority of these projects are funded by grants and reserves.
Allocations to Reserves- these funds are used to save over time for major capital projects (classified as capital reserves) such as replacing roads or significant building upgrades. Also used for unexpected expenses (classified as contingency reserves).
|TOWN OF NANTON BUDGET 2019|
|Operating Expenditures|| $4,743,157
|Operating Revenue|| $-2,165.971
|Grants, Deibenures (Loans), & Transfer from Reserves||$-1,626,000|
|Transfer to Reserves|| $177,900
|Debt Repayment by Taxation - Principle||$33,314
|NET FUNDS REQUIRED FOR MUNICIPAL OPERATIONS||$2,915,400|
|for School Fund||$888,242|
|for Senior's Foundation||$111,907|
|TOTAL FUNDS REQUiRED FROM TAXATION||$3,915,549|