Budget and Finances

The Town of New Tecumseth provides services and programs to our community based on the annual Town budget.

Approved Budget

Council adopted the 2020 Operating and Capital Budgets at the December 23rd Council meeting without amendment. A news release was issued on December 24th and website content will be updated accordingly in the new year. Council Report #FIN-2019-39 Proposed 2020 Budget and the Additional Information Memorandum can be found in the Agendas and Meetings section of the Town’s website.

Approved 2020 Budget

The APPROVED  2020 Budget includes overviews and highlights such as, where your residential property taxes go, the impact on the average household, budget at a glance, department summaries and much more.

The Approved 2020 Town Budget reflects a net operating and capital levy of $37M. For the average home in New Tecumseth with a property assessment value of $428,273, this translates to a 3.18% average property levy increase or approximately $70 per year or $5.83 per month.

In addition to the above, Council approved a new separate annual Capital Levy dedicated to asset replacement. This funding equates to an additional annual 0.5% net levy increase, amounting to approximately $180,000 for 2020. This adjustment translates to approximately $11 per year or $0.92 per month for the average home.

The Approved 2020 Water and Wastewater Budget totals $18.5M. This budget is fully rate supported and the Water and Wastewater budgets include a provision to increase rates by approximately 3%, effective April 1, 2020. The impact of the proposed rate change for the average residential home using 200 cubic meters of water per year is approximately $24 or $2 per month. 

The above figures exclude any property tax impact associated with Simcoe County and the Education School Boards. The estimated total property tax bill for the average New Tecumseth residential property, including County and Education components, would be approximately $4,202 or a combined 2.90% levy increase. It is important to note, the Town’s portion is approximately 54%, with the balance forwarded to Simcoe County and the Provincial School Boards.

The above Approved 2020 Budget reflects extensive discussion, deliberation and recommendations generated through Committee of the Whole Working Sessions. Illustrated below are the dates for this year’s process, including any budget documentation provided.

November 8th,   2019                      - Draft  2020 Budget Release

November 15th, 2019 @ 9AM   - Committee of the Whole Budget Working Session Overview Presentation 

                                                                       - Committee of the Whole Budget Working Session Departmental Presentation

November 19th, 2019 @ 7PM   - Evening Public Input Budget Session (Town Hall) Presentation

November 25th, 2019 @ 9AM   - Committee of the Whole Budget Working Session Presentation 

December 9th,   2019 @ 7PM     - Committee of the Whole – Regular (Proposed Budget Recommendation)           

December 23rd, 2019 @ 7PM   - Council  Budget - Regular Session (Budget Approval)                                                               

The 2020 Budget incorporates Business Improvement Area Levies, supporting the following BIA budgets:

Past Budgets

Financial statements

Our yearly financial statements are available as well, which have financial information for the Town, Library and Business Improvement Associations.

Cheque Summary Reports