On
this weeks front
page
May
12, 2008
3% increase in
Town budget
By DARRYL HOLYK
The 2008 Financial Plan for the Town of Minnedosa has been presented and shows an overall increase of 3%. The General Municipal Mill Rate has increased from 31.241 in 2007 to 33.434 in 2008.
The Town’s financial situation has increased to $3,213,906.48, however, not all ratepayers will see an increase in their municipal taxes.
According to Town Assistant CAO, Chris Yuen, ratepayers whose property is assessed in the neighbourhood of $94,000 or less should expect to see no changes in their taxes. Some lower assessed properties may actually experience a decrease in the amount of taxes they will have to pay. However, properties assessed over $94,000 will experience an increase in taxes.
“It’s difficult this year to have a blanket formula to calculate the taxes because the government has given an extra $75 on homeowner’s allowance (Education Property Tax Credit), so everyone is affected different in terms of the bottom line,” explained Chris. “Homes that are assessed higher than $94,000 will see a slight increase in taxes, but the increase will vary depending on assessment. The $75 tax credit will have a more percentage favourable impact on a lower assessed home than a higher assessed home.”
As with everything else, the costs of running the town and maintaining its services continues to increase each year. In addition to increased costs for fuel, maintenance, and materials, the Town has also experienced an increase in its insurance premiums, which are reflected in this year’s budget.
“In every category we are seeing an increase in insurance costs,” said Chris. “The premiums have gone up in the past year. Unfortunately for the Town, we have seen a premium increase of approximately 40% and we have had to absorb that into the budget as well.”
On the revenue side of things, this year’s budget includes an additional $197,000 in added taxes over last year’s actual figure of $22,892. This increase in tax revenue is anticipated as a result of the new Husky ethanol plant.
The new plant will also bring additional water sales revenue for the town. Residential water sales revenue is expected to increase by approximately $200,000 in 2008.
With the anticipated increases in revenue, there are also expense increases projected in this year’s budget.
The category of the financial plan titled Community Centres and Halls has seen a dramatic increase over last year. In 2007, the actual amount spent in this area was $7,136.81. The budgeted amount for 2008 is $39,500. The increase comes as a result of adding a new full-time position for manager of the Community Conference Centre. In previous years, this position was a part-time position for the Recreation Director.
The funding provided to the local tourism committee from the Town has increased from $19,162 in 2007 to a projected $23,771.12. This increase is required to cover the expenses of new signage, trade show attendance, and other projects anticipated for the year.
Council has also decided to begin putting some money aside for expenses related to its recently announced plan to pursue a new hotel/arena complex for the community. This year’s budget reflects this with $50,000 appearing in a category titled General Land Assembly.
The 2008 Town Financial Plan will be presented during a public hearing this Tuesday, May 13th at 5:30 p.m. in Council Chambers. All are welcome to attend.
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A new game
Brody Zariwny tries to block and steal the ball from Brady Ingenmey during a game of Gatorball at the MCI field last Friday morning. This was the grade nine student’s first attempt at Gatorball, a game that combines the rules and techniques of soccer, rugby, and football.
