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2026 Budget

Budget & Finances

Learn how Town funds are planned, managed, and invested, including budgets, financial statements, and key resources. 

2026 Budget
Financial Statements
Financial Information
Budget Basics
Corporate Asset Management

2026 Budget

The annual budget is one element of New Tecumseth’s commitment to business planning, which aligns the departments’ resource requirements to the Town’s Strategic Plan. It outlines how the Town plans to allocate resources to deliver the programs and services residents and businesses rely on. Capital planning is guided by key strategic documents, including the Long-Range Financial Plan, the Development Charges Background Study, the Town’s Asset Management Plans, and current asset condition assessments.


The Mayor’s Approved 2026 Budget is now available for viewing.  

Past Budgets
Cheque Summary Report

Financial Statements

View the Town of New Tecumseth’s Financial Statements, which incorporate financial information for the Town, Library,  Alliston Business Improvement and Tottenham/Beeton Business Improvement Areas.

Past financial statements 

Financial Information

2025 Long Range Financial Plan

The 2025 Long Range Financial Plan was presented as part of the Town of New Tecumseth  Finance Planning Working Session held on June 16, 2025. 

Water Financial Plan

2025 Water Financial Plan

Budget Basics

Building the Budget 

Every year, the Town builds a Business Plan & Budget — our roadmap for delivering the services and programs you count on every day. From parks and roads to fire services and recreation, it’s all about making smart choices with the resources we have. By law, our budget must be balanced — meaning we can’t spend more than we bring in. That’s why budget season is so important. It’s our chance to check in, see what’s working, and adjust to meet the needs of our growing community. This isn’t just about numbers — it’s about people. It’s about you. Let’s build a budget that reflects our shared priorities and keeps New Tecumseth thriving.

Budget Basics

Overview

New Tecumseth: Small-Town Charm, Big Possibilities

New Tecumseth blends small-town warmth with the best of rural and urban living. Our three vibrant centres — Alliston, Beeton, and Tottenham — each offer their own unique character, surrounded by thriving farms and a strong manufacturing base.

We’re proud to be one of Canada’s top 5 safest communities and a growing hub for business, with over 2,500 companies employing more than 21,000 people. Just an hour north of Toronto and minutes from Highway 400, we’re home to 40,000+ residents who enjoy top-notch amenities, recreation, and community services.
National rankings have recognized us as one of the best places in Canada to live, retire, raise a family, and buy real estate. Our festivals — from Canada Day to Winterfest — celebrate our rich culture and community spirit.

New Tecumseth is growing, but we’re staying true to what makes us special.

New Tecumseth at a Glance

Based on the 2024 Canadian Census, New Tecumseth is growing fast — ranked 7th among urban municipalities in Canada for population growth, now home to nearly 44,000 residents. With a mix of rural charm and urban convenience, it’s a place where people love to live, work, and play.

  • Income Snapshot
    • Median household income: $90,000
    • Average household income: $114,900
    • About 28% of residents spend 30% or more of their income on housing
  • Commuting & Employment
    • 65% of the labour force commutes from outside the Town
    • Over 21,000 employed, with 2,230 unemployed
  • Housing & Growth
    • Strong real estate interest and steady development
    • Diverse income levels, with many households earning over $100K
  • Recreation & Lifestyle
    • 70 hectares of parkland
    • 26.42 km of the Trans Canada Trail
    • Over 30,000 drop-in recreation participants annually
    • Home to unique festivals and events
  • Diverse & Welcoming
    • Top languages spoken (besides English): French, Italian, Spanish, Portuguese
    • Recognized as one of the best places to live, retire, and raise a family in Canada


New Tecumseth continues to thrive — blending community spirit, economic opportunity, and a high quality of life.

Funding Our Communities: A Shared Effort

chart breaking down where tax dollars go

In Ontario, every level of government plays a role in supporting our communities — and each receives a portion of the taxes collected to do so.

  • Municipalities like New Tecumseth receive about 9 cents of every tax dollar.
  • The Province receives 44 cents, and the Federal Government receives 47 cents.

Even with a smaller share, municipalities are responsible for 60% of public infrastructure — including roads, water systems, parks, and community facilities. The Province manages 38%, and the Federal Government 2%. 

This highlights the importance of thoughtful local budgeting and long-term planning. It also shows how all levels of government work together to build strong, connected communities.

Budget
What Shapes the Town’s Budget

The Town’s ability to deliver quality services and maintain infrastructure comes from a variety of financial sources. Just like managing a household budget, the Town’s annual budget is influenced by a variety of factors. Here’s a look at some of the major factors which shape the budget each year:

Expenditures 

  • Community Needs and Priorities – Get Involved with the Public Input Session on October 8 at Town Hall (full Council schedule)
  • Council Direction – Council is ultimately responsible for setting and approving priorities and goals that guide how the Town plans and allocates budget each year
  • Various Plans/Studies undertaken to determine the historical and current states of various Town services to provide the best plan for the future
  • Strategic Plan, the Town’s long-term plan outlining priorities and guiding future spending
  • Regulatory Changes (new bills, etc.) can happen each year as new bills and laws are enacted, changing how the Town performs tasks which impacts budget decisions
  • Economic Environment Changes including pressures from inflation, rising costs, tariffs, and interest
  • Unexpected Events such as emergencies

Funding Sources

  • User Fees – Through By-law, fees and charges are collected for various services or activities provided or done by or on behalf of the Town, such as recreation programs, water and wastewater services, and dog tags.
  • Taxes
  • Development Charges (DCs) collected when building permits are issued for new homes, businesses, and other developments, DCs help pay for the roads, parks, and services needed when new homes and businesses are built
  • Grants are applied for through various external organizations to supplement other revenue
  • Donations
  • Reserves and Reserve Funds (learn about Reserves and Reserve Funds under More Budget Basics below)

Together, these funding sources help ensure New Tecumseth remains a vibrant, well-serviced, and financially responsible community.

Capital Budget: Building for Tomorrow

The Town’s Capital Budget helps fund long-term projects that shape our community — like roads, bridges, parks, buildings, and vehicles.

How We Fund It:

We raise money through a mix of property taxes, utilities, development charges, government grants, reserves, and strategic borrowing.

How We Use It:

Funds are invested in projects that build, upgrade, or extend the life of Town assets — ensuring New Tecumseth continues to grow safely and sustainably.

Operating Budget: Powering Everyday Services

The Operating Budget covers the day-to-day services that keep New Tecumseth running — like road maintenance, curbside collection, recreation, parks, and emergency services.

How We Fund It:

Tax-supported services: Funded by property taxes, user fees, and reserves 

User rate-supported services: Funded by user rates and reserves for services like water, wastewater, and parking

How We Use It:

These funds help deliver the essential services residents rely on every day.

Budget at Work

How We Invest in New Tecumseth

chart that breaks down how we invest in new tecumseth

Ever wonder how your property tax dollars are put to work? Here’s a look at how the Town of New Tecumseth allocates funding to keep our community thriving:

  • 44% supports day-to-day Town operations — everything from parks and roads to recreation and public works
  • 12% goes toward building and maintaining infrastructure through the Town’s Capital Plan
  • 11% is directed to education, as required by the Province
  • 33% supports key service partners like policing, libraries, and County services such as land ambulance and social programs

Every dollar plays a role in delivering the services and infrastructure that make New Tecumseth a great place to live.

Your Tax Dollars at Work in New Tecumseth

Every day, your contributions help power the services and programs that make New Tecumseth a great place to live. From safe roads and clean parks to emergency services and community events — your support keeps it all running. Here’s a look at how a typical household’s property taxes help deliver real value across the Town:

  • Fire & Emergency Services
    • 24/7 protection and rapid response to emergencies across the community.
  • Roads & Traffic
    • Maintenance of roads, sidewalks, stormwater systems, and snow clearing to keep you moving safely year-round.
  • Transit
    • Reliable and accessible transit options to connect residents to work, school, and services.
  • Parks, Recreation & Culture
    • Beautiful parks, trails, and recreation centres, plus events like the Potato Festival and Honey Fest that bring our community together.
  • Waste & Recycling
    • Curbside collection, landfill operations, and hazardous waste disposal to keep our Town clean and green.
  • Planning & Development
    • Smart growth planning, zoning, and development services that shape our future.
  • Libraries & Community Services
    • Access to books, digital tools, and programs for all ages through our local libraries and service partners.
  • Service Partners
    • Support for essential services like policing, land ambulance, and social programs delivered through the County of Simcoe and other partners.

 Every dollar is an investment in the safety, sustainability, and vibrancy of New Tecumseth.

More Budget Basics

What Are Reserves and Reserve Funds?

Think of reserves and reserve funds like the Town’s savings accounts — they help us plan for the future, manage unexpected costs, and keep taxes stable.

  • Reserves are set aside by Council for specific purposes, like saving for future projects or emergencies. They don’t earn interest and aren’t tied to a specific asset.
  • Reserve Funds are more structured. They’re legally separated from general funds and must be used for a specific purpose. Some are obligatory (required by law, like Development Charges), while others are discretionary (created by Council for planned needs). These funds do earn interest, which stays in the fund.

Together, these financial tools help the Town stay resilient, fund infrastructure, and manage debt responsibly.

What is Assessment Growth?

Assessment growth refers to the increase in a municipality’s property tax base resulting from new developments, property improvements, or changes in property assessments. This growth can stem from newly constructed residential, commercial, or industrial properties being added to the tax roll. It may also arise from renovations or expansions that enhance a property’s assessed value, as well as reassessments and adjustments made by the Municipal Property Assessment Corporation (MPAC) to reflect current market conditions.

Challenges Today, Growth Tomorrow

Municipalities are facing some financial hurdles — slower economic growth and limited water capacity have made it harder to welcome new development. That means fewer new homes and businesses, and less revenue to fund the infrastructure we all rely on.

The cost of things like fuel, hydro, and materials continues to climb. While the Town works hard to find efficiencies, these increases can affect the cost of maintaining current service levels.

But we’re not standing still. We’re actively addressing these challenges, including strengthening our asset management reserves to protect the services and spaces that make our Town great.

The expansion of the Raymond A. Barker Water Treatment Plant is underway, with interim solutions being explored to unlock development sooner. Plus, growing interest in industrial projects is set to boost our local economy and tax base.

We’re laying the groundwork for a stronger, more vibrant New Tecumseth — and the future looks bright.

Strong Mayor Powers and the Budget Process

In Ontario municipalities like New Tecumseth, the Mayor has been granted additional responsibilities known as strong mayor powers. These powers include leading the municipal budget process by proposing the annual budget by February 1, with structured timelines for council review, potential amendments, vetoes, and overrides. The process emphasizes collaboration, transparency, and long-term planning, while also outlining accountability measures and procedures for filling vacancies. To learn more, visit the Ontario Municipal Councillors Guide. 
Strong Mayor Powers Report

A Balanced and Transparent Budget

Under Sections 289 and 290 of the Municipal Act, the Town is required to prepare a balanced operating budget each year. This means we can’t borrow money to cover day-to-day operating costs—borrowing is only permitted for capital projects, like building new infrastructure.

To keep things transparent, the Town shares its budgets and financial statements publicly, so residents can see exactly how funds are being used. We also rely on asset management strategies and a long-term financial plan to guide and support major capital investments.

Plans for the Future

The Town of New Tecumseth’s plans, studies and reports and asset management improve our community and guide us toward our future goals.

Asset Management

The Town owns and is responsible for approximately $3 Billion of various assets and acts as stewards for this infrastructure. The town developed a Strategic Asset Management Policy and Corporate Asset Management Plan to maintain and sustain this investment.

Building Together: Guide for Municipal Asset Management Plans

The provincial document, Building Together: Guide for Municipal Asset Management (AM) Plans, describes Asset Management planning as a process of making the best possible decisions regarding the building, operation, maintenance, renewal, replacement and disposal of infrastructure assets. It is an integrated approach involving all Town departments to realize value from existing and new assets. The objective is to maximize benefits, manage risk, and provide satisfactory levels of service to the public in a sustainable manner recognizing ongoing responsibility and costs to asset ownership into the future. Asset Management requires a thorough understanding of the characteristics and conditions of infrastructure assets, as well as service levels expected from them. It also involves setting strategic priorities to optimize decision-making about when and how to proceed with investments. Financial plans and strategies are a key component to putting asset management into action. Asset management planning manages physical assets in a way that is socially, environmentally, and economically sustainable in the long term. Please watch this video on Why Invest in Asset Management. 

 The Asset Lifecycle

Asset lifecycle starts with identification of requirement or need. The Asset is then planned and designed before it is created or acquired. After acquisition, the asset is operated and maintained over the period of its useful life. At the end of life of an asset it is either replaced, rehabilitated or upgraded, decommissioned or disposed. The diagram provides a snapshot of an asset lifecycle.

Asset Lifestyle Graphic
Policies and Strategies
Asset Management Plan

The Asset Management Plan assists in the development of a long-term strategy for the management of our capital assets that provide services to our residents and businesses. 

Proposed levels of service update to every asset management plan prepared above, effective July 1, 2025:

Current and Proposed Levels of Service

Infrastructure Report Card

Annual Infrastructure Report 2025

The purpose of an Infrastructure Report Card is to communicate the performance of the assets and to raise awareness of how each service area is performing.
The report card provides a high level overview of the condition of our assets, infrastructure gap, average service state and lifecycle cost of our assets. The report card is an assessment of the condition of four primary asset categories of core infrastructure: drinking water systems, sewer collection systems, stormwater networks and transportation infrastructure. The report card shows that the Town owns approximately $2.93 Billion of Infrastructure assets.   
The results of the infrastructure report cards answer three pivotal questions:
1. What do we own?
2. What is it worth?
3. What condition is it in?

Read the Report

Disposal of Surplus and Obsolete Goods

An item that has been deemed as surplus or obsolete may be disposed of or sold.
The Town’s real property (land and its permanent fixtures) is disposed of in accordance with the Town’s Sale and Other Disposition of Land Policy. Following Council resolution or by-law to declare real property surplus, and in accordance with any notice requirement, in most circumstances the Municipal Clerk will engage a third-party realtor to facilitate sale on the open market.
The Town’s fleet assets are disposed of in accordance with the Town’s Fleet Management Policy. Following the approval of the Roads and Fleet Manager, Director of Public Works, and General Manager, Fleet staff may dispose of a vehicle due to replacement, damage (accident write-off), or end-of-life. Generally, all vehicles will be sold “as is” through the use of an auction house or traded in during procurement of new fleet assets.
All other goods determined to have residual value are disposed of in accordance with the Town’s Procurement Policy. Following appropriate approvals, Procurement staff will circulate a list of surplus goods to departments for possible redeployment. Surplus or obsolete items not required by any other department shall be sold or disposed of by Procurement Services via formal auction, internet auction, publicly advertised request for offers (generally GovDeals) or trade-in. Any remaining surplus items shall be given to a non-profit entity at the discretion of the Manager of Procurement Services.

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