Budget and Finances

Town 2024 Business Plan and Budget

The 2024 Business Plan & Budget was adopted at the December 11th Council meeting.

The approved 2024 Budget reflects a net operating and capital levy of $43.9M resulting in a 7.89% general levy increase. The Town’s capital levy dedicated to asset replacement increases the levy by an additional 1.5%.

The impact on the average New Tecumseth residential property, including County and Education components, would be a total property tax payment of $4,778. This is an annual blended increase of 6.10% and represents an increase of approximately $275 per year.

Key Operating Highlights include:

  • Reinstatement of the tree planting program and
  • Elective Conservation Authorities’ education programs
  • Extended Library hours
  • Increased Day Camp places
  • Enhanced Crossing Guard program
  • Traffic calming initiatives
  • Free swims for residents
  • Community Climate Action Plan
  • Enhanced public communication and engagement
  • Addition of necessary resources in Public Works

The Town budget includes $40.7M in capital consisting of 68 projects, funded from a variety of sources such as reserves $11.8M, development charges $21.1M, debentures $4.3M, grants $3.4M and tax $798K. Significant 2024 capital works include:

  • Additional Fire Station in Alliston-Increase in investment - $4.3M
  • Fire Apparatus and Equipment Replacement-$1.8M
  • Investment in Roads and Bridge Reconstruction - $2.8M
  • 2024 Road Improvement Program - $3.5M
  • Fleet Replacements - $2.8M
  • Facilities Upgrades-$1.2M
  • Alliston Well Development -$11.9M
  • McKelvey Well Pump Upgrades-$2.7M
  • Elevated Water Storage Tank EA and design-$2.8M
  • New Tecumseth Pipeline Booster Stations-EA and Design-$1.9M
  • Scada Server-Software and Hardware Upgrades-$1.7M
  • Wastewater Treatment Plants-Processing Equipment Upgrades-$1M

 The Water and Wastewater budget approval results in a 15% increase to water and 8.5% to wastewater rates effective April 1, 2024. The impact of the proposed rate change for an average residential home using 200 cubic meters of water per year is approximately $120.

  

 2023 Long Range Financial Plan

The 2023 Long Range Financial Plan was presented as part of the Town of New Tecumseth  Finance Planning Working Session held on June 5, 2023. 

  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 Report