2020 Budget Presentation - King...Overview – Working Session Presentation I. Context II. 2020...
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2020 Budget Presentation January 13, 2020
Transcript of 2020 Budget Presentation - King...Overview – Working Session Presentation I. Context II. 2020...
2020 Budget Presentation
January 13, 2020
Overview – Working Session Presentation
I. Context
II. 2020 Op-Ex and Cap-Ex Budget Review
III. Strategic Reserve Planning & Debt Management
IV. The Path Forward for 2020
January 13, 2020 The Corporation of the Township of King 2
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
Integrated Community Sustainability Plan (ICSP)
Environmental Economic
Socio-Cultural Financial
Context, as established in 2012
January 13, 2020 The Corporation of the Township of King 3
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
Investment in Public Infrastructure (1961 vs. 2005)
Context: The significant shift in funding to support investment in public infrastructure has and continues to change …
January 13, 2020 The Corporation of the Township of King 4
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
Consumer Price Index vs. Non-Residential Building Index
2.5%
1.5%
2.1% 2.1%
2.5%
1.9%
1.5%
1.8%
3.2% 3.1%
5.3%
3.3%
0%
2%
4%
6%
2014 2015 2016 2017 2018 2019
CPI (Toronto) All Items Non-Res Building Index
CPI (“All Items”) vs. Non-Res Building Index
January 13, 2020 The Corporation of the Township of King 5
Consumer Price Index vs. Non-Residential Building Index
Consumer Price Index (CPI)
2.5%
1.5%
2.1% 2.1%
2.5%
1.9%
1.5%
1.8%
3.2% 3.1%
5.3%
3.3%
0%
2%
4%
6%
2014 2015 2016 2017 2018 2019
CPI (Toronto) All Items Non-Res Building Index
CPI (“All Items”) vs. Non-Res Building Index
60% of Township Operating Costs align with Non-Res CPI measure
January 13, 2020 The Corporation of the Township of King 6
Context - Annual Budget Process (2017-2020)
2017
2018 2019
2020
2020 2017-18 Budgets • Q4-2016 Public
Consultation • Approved 2017 Op-Ex
+2.98% Change in Levy • 2018 Op-Ex Forecast
+3.99% • Approved 2-Year
Capital Plan (2017-2018) @ $71.4M
Evolution of Budget Processes 2017-2022
January 13, 2020 The Corporation of the Township of King 7
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
2017
2018 2019
2020
2020 2017-18 Budgets • Q4-2016 Public
Consultation • Approved 2017 Op-Ex
+2.98% Change in Levy • 2018 Op-Ex Forecast
+3.99% • Approved 2-Year
Capital Plan (2017-2018) @ $71.4M
2018 Budgets • Q4-2017 Public
Consultation • Approved 2018 Op-Ex
+0.00% Change in Levy • Approved 2018 amended
Capital Plan @ $26.9M
Evolution of Budget Processes 2017-2022
Context - Annual Budget Process (2017-2020)
January 13, 2020 The Corporation of the Township of King 8
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
2017
2018 2019
2020
2020 2017-18 Budgets • Q4-2016 Public
Consultation • Approved 2017 Op-Ex
+2.98% Change in Levy • 2018 Op-Ex Forecast
+3.99% • Approved 2-Year
Capital Plan (2017-2018) @ $71.4M
2018 Budgets
2019-2022 Budgets
• Q4-2017 Public Consultation
• Approved 2018 Op-Ex +0.00% Change in Levy
• Approved 2018 amended Capital Plan @ $26.9M
• Q4-2018 Public Consultation • 1st Multi-Year (2019-2022)
Term of Council Op-Ex Budget • Approved 2019 Op-Ex
+2.30% Change in Levy • Forecast Op-Ex Levy Increase
• 2020 @ 2.60% • 2021 @ 2.65% • 2022 @ 2.75%
• Approved 4-Year Capital Plan ($125.8M) through 2022
Evolution of Budget Processes 2017-2022
Context - Annual Budget Process (2017-2020)
January 13, 2020 The Corporation of the Township of King 9
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
2017
2018 2019
2020
2020 2017-18 Budgets • Q4-2016 Public
Consultation • Approved 2017 Op-Ex
+2.98% Change in Levy • 2018 Op-Ex Forecast
+3.99% • Approved 2-Year
Capital Plan (2017-2018) @ $71.4M
2018 Budgets
2019-2022 Budgets
2020-2022 Budgets
• Q4-2017 Public Consultation
• Approved 2018 Op-Ex +0.00% Change in Levy
• Approved 2018 amended Capital Plan @ $26.9M
• Q4-2018 Public Consultation • 1st Multi-Year (2019-2022)
Term of Council Op-Ex Budget • Approved 2019 Op-Ex
+2.30% Change in Levy • Forecast Op-Ex Levy Increase
• 2020 @ 2.60% • 2021 @ 2.65% • 2022 @ 2.75%
• Approved 4-Year Capital Plan ($125.8M) through 2022
Evolution of Budget Processes 2017-2022
• Q3-2019 Directions Report (+2.9%) • Q4-2019 Public Consultation • 2nd Year of Multi-Year (2019-2022)
Term of Council Op-Ex Budget • Proposed 2020 Op-Ex
+2.89% Change in Levy • Forecast Op-Ex Levy Increase
• 2021 @ 2.88% • 2022 @ 2.85%
• Amended 4-Year Capital Plan ($120.4M) through 2022
Context - Annual Budget Process (2017-2020)
January 13, 2020 The Corporation of the Township of King 10
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
How we got to this point for the 2020 Budget Cycle ? 2019-2022 Council Priorities
Adoption of Township’s new Official Plan Road & related improvements Traffic calming • Rural Area Broadband • Train Whistle Cessation • Tree By-law
• Capital Projects – “On time and On budget” Strategic Land Acquisition
• Rural Dumping Customer Service
Communication Strategy • Township-wide Recreation Centre
January 13, 2020 The Corporation of the Township of King 11
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
How we got to this point for the 2020 Budget Cycle ?
2020-2022 Budget Directions Report September 9, 2019
Tax Levy Increase </= 2.9%
Maintain service level standards
Identify incremental sources and uses of funds
Program Change requests Robust Business Case Justification
Amended 2020-2022 Capital Plan deferred $5.5M beyond 2022 re: construction timing
January 13, 2020 The Corporation of the Township of King 12
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
2020 Budget Overview Township’s 2020 Operating Budget includes:
• $44.8 million in tax supported operating costs Including a Tax levy increase of $899,748
or 2.89% Township’s planned Capital Investments over the four-year Term of Council (2019-2022) include:
• $29.3 million in 2019 • $34.8 million in 2020 (revised from $40.3 million) • $28.8 million in 2021 (revised from $29.1 million) • $27.4 million in 2022 (revised from $27.0 million)
2020 Operating and 2020-2022 Capital Budgets
Integrated Community Sustainability Plan (ICSP)
Environmental Economic
Socio-Cultural Financial
January 13, 2020 The Corporation of the Township of King 13
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
2020 Budgets (Operating & Capital)
$79.6 million $44.8 million Operating expenses
$34.8 million Capital expenses + =
$0.4 $1.0 $1.5 $1.6 $1.8 $2.9
$3.1
$8.9
$10.7
$12.9
$-
$3
$6
$9
$12
$15$ in Millions 2020 Operating Costs ($44.8 M) are allocated as follows:
72.5% of Total Op-Expenses
28.7% 28.7%
19.7%
7.0% 6.4% 4.1%
3.6% 3.3% 2.3% 0.9%
January 13, 2020 The Corporation of the Township of King 14
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
Township’s 2020 Operating Budget @ $44,823,806
$17.9
$8.3
$6.8 $5.7
$3.4
$1.5 $1.2
$-
$2
$4
$6
$8
$10
$12
$14
$16
$18
$20
Salaries & Benefits Transfer toReserves (Net)
ContractualServices
GeneralOperations
OtherExpenditures
Utilities Minor Capital(Repairs & Maint.)
$ in Millions
39.8%
16.6% 15.1%
12.8% 9.6%
3.3% 2.8%
2020 Gross Operating Costs by Expenditure Category
Expenditure Categories aligned with “Non-Res Building Index”
January 13, 2020 The Corporation of the Township of King 15
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
Township’s 2020 Operating Budget @ $44,823,806
$33.8
$4.4 $3.6 $2.6 $0.4
$-
$5
$10
$15
$20
$25
$30
$35
$40
Property Taxation User Charges Transfers fromReserves
Other Revenues Grants
$ in Millions
75.4%
9.8% 8.1% 5.8% 1.0%
2020 Sources of Funding
January 13, 2020 The Corporation of the Township of King 16
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
2020 Budgets (Operating & Capital)
$79.6 million + = $44.8 million Operating expenses
$34.8 million Capital expenses
$-
$5
$10
$15
$20
$25
$30
Residential & Farm Payments in Lieu (PILs)of Taxation
Commercial Industrial
$ in Millions
$33.8M or
88.9%
4.7% 5.2% 1.2%
Total Non-Residential Property Taxation Sum < 6%
Distribution of Property Taxation Revenue by Assessment Type
January 13, 2020 The Corporation of the Township of King 17
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
Annual % Increase in Levy Requirements (2019-2022)
Multi-Year Term of Council Budgets (2019-2022)
Focus on Operational Efficiency
Excellence in Customer
Service
2.30%
2.89% 2.88% 2.85%
1%
2%
3%
2019(Approved)
2020Proposed
2021Forecast
2022Forecast
January 13, 2020 The Corporation of the Township of King 18
Township’s Operating Budget vs. Actual Costs (2016-2022)
$0
$10
$20
$30
2016 2017 2018 2019 2020 2021 2022
Planned Cost vs. Actual Cost
Prop
osed
Fore
cast
Fore
cast
$ in Millions
(Excluding Corporate Costs)
Examples of operational drivers that may influence variances between Planned and Actual Costs include:
• Seasonal weather conditions Severe winter events Increased winter maintenance costs
Rainy spring Increased gravel road maintenance
Summer Heat Wave Increased energy costs relating to facility
cooling
• Participation rates for recreation programs (e.g. Day Camps)
• Fluctuating commodity rates • Fuel, Hydro-Electricity, Natural Gas
January 13, 2020 The Corporation of the Township of King 19
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
2020 Operating and 2019-2022 Capital Budgets
2020 Operating Budget $ in Millions
Gross Expenditures $ 44.8
Gross Revenues $ 43.9
Proposed 2020 Increase in Tax Levy
+ $ 0.9
Proposed Net Tax Levy Increase (Township portion only)
2.89%
Estimated Impact – Residential “Blended Tax Levy Increase” Assessment @ $850,000 Assumptions: Region @ 2.96% and Education @ 2.00%
+ $179.77 or 2.6%
Capital Budgets (2019-2022) $ in Millions
2019 Capital Budget Approved funding from Taxation >
$ 29.3 M $ 4.6 M or 15.8%
2020 Capital Budget Proposed funding from Taxation >
$ 34.8 M $ 4.4 M or 12.6%
2021 Capital Budget Proposed funding from Taxation >
$ 28.8 M $ 4.1 M or 14.4%
2022 Capital Budget Proposed funding from Taxation >
$ 27.4 M $ 4.1 M or 15.1%
Summary of sources of Funding Reserve & Reserve Funds
Taxation Debenture Financing
(2019-2022) $ 92.1 M or 76.6% $ 17.4 M or 14.4%
$ 10.8 M or 9.0%
January 13, 2020 The Corporation of the Township of King 20
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
Capital Budgets (2020-2022)
Updates to the Multi-Year Capital Budgets
(2019-2022)
January 13, 2020 The Corporation of the Township of King 21
Presenter
Presentation Notes
Who are we serving ? What were our accomplishments ? What are our forward looking goals / objectives ?
Capital Budgets (2019-2022)
$29.3
$34.8
$28.8 $27.4
$0$1
0$2
0$3
0$4
0
2019
2020
2021
2022
Valu
e ($
) of
Plan
ned
Capi
tal P
roje
cts
Amended for Consideration Approved
January 13, 2020 The Corporation of the Township of King 22
Presenter
Presentation Notes
Who are we serving ? What were our accomplishments ? What are our forward looking goals / objectives ?
Capital Budgets (2019-2022)
$8.4 $8.1 $8.8 $10.5
$29.3
$34.8
$28.8 $27.4
$-
$5
$10
$15
$20
$25
$30
$35
$40$0
$10
$20
$30
$40
2019
2020
2021
2022
Forecast Balance in Infrastructure Reserve
Valu
e ($
) of
Plan
ned
Capi
tal P
roje
cts
Stability of Infrastructure Reserves while supporting a $120M capital program (2019-2022)
Approved Amended for Consideration
January 13, 2020 The Corporation of the Township of King 23
Presenter
Presentation Notes
Who are we serving ? What were our accomplishments ? What are our forward looking goals / objectives ?
2020 Budgets (Operating & Capital)
$79.6 million + =
$0.2 $1.2
$2.5
$4.3
$12.3
$14.2
$-
$4
$8
$12
$16
$20
Other Parks, Recreation &Culture
Fleet & Equipment Water & Wastewater Roads, Bridges &Culverts
Municipal Buildings
$ in Millions 2020 Capital Costs ($34.8 M) are allocated as follows: 76.2% of
Total Cap-Expenses
$44.8 million Operating expenses
$34.8 million Capital expenses
January 13, 2020 The Corporation of the Township of King 24
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
Strategic Reserve Planning & Debt Management
Multi-Year Budgets and Business Plans
The Path to Fiscal Sustainability
Managing Growth
Strategic Allocation of Resources
January 13, 2020 The Corporation of the Township of King 25
Financial Sustainability
Expanded Investment in Capital Infrastructure to serve the needs of this growing municipality
Growth & Stability of Infrastructure Reserves
Property Tax Rates will continue to decline as incremental assessment comes online
0
5
10
15
Growth in Infrastructure Reserves
“Planning for Future Needs”
$ in millions
$7.1 $13.5
$21.1 $20.4
$29.3 $34.8
$28.8 $27.4
0
10
20
30
40 Capital Spend by Year
Responsible Financial Planning
Predictability in Tax Rates
Infrastructure Reserve Planning
$ in millions
January 13, 2020 The Corporation of the Township of King 26
Reserve Management
Strategic Allocation of Resources
Effective Financial Planning
• Annual Op-Ex Infrastructure Reserve Contributions $7.6M (2020) and $7.4M (2021 and 2022)
• Asset Management Plan (Approved in 2016) Policy (Approved in 2019) Implementation (Ongoing)
0
1
2
3
4
5
2015 2016 2017 2018 2019 2020 2021 2022
Annual Op-Ex Tax Capital Reserve
Contributions “Pay-as-you-Go” Capital
$ in millions
0
1
2
3
4
2015 2016 2017 2018 2019 2020 2021 2022
Annual Op-Ex “Asset Management” Reserve Contributions
$ in millions
January 13, 2020 The Corporation of the Township of King 27
Annual Op-Ex Contributions to Infrastructure Reserves (2013-2022)
$1.5 $1.5 $1.8
$3.9 $4.3 $4.6 $4.6 $4.4 $4.1 $4.1 $0.6 $0.8
$1.5
$0.3
$3.6 $3.2 $3.2 $3.2
$3.2 $3.2
$0.0
$2.0
$4.0
$6.0
$8.020
13
2014
2015
2016
2017
2018
2019
2020
2021
2022
Tax Supported Capital (TSC) Infrastructure(“Pay-as-you-Go” Capital) (Asset Management)
January 13, 2020 The Corporation of the Township of King 28
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
Debt Management
Responsible Financial Planning
$20 $18
$15
$20 $17
$14 $11
$8 $6
$3 $0
$5
$10
$15
$20
$25
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
$ in Millions
Forecast: Total Debt (2020-2029)
Net Debt Owing at Year End
January 13, 2020 The Corporation of the Township of King 29
Debt Management
Responsible Financial Planning
$20 $18
$15 $20
$17 $14
$11 $8 $6 $3 $0
$10
$20
$30
$40
$50
$60
$70
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
$ in Millions
Forecast: Total Debt (2020-2029)
Net Debt Owing at Year End Estimated Additional L-T Borrowing
Additional Borrowing Capacity
January 13, 2020 The Corporation of the Township of King 30
2019-2022 Capital Budgets
Context: The significant shift in funding to support investment in public infrastructure has and continues to change …
January 13, 2020 The Corporation of the Township of King 31
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
2020 Preliminary Estimate of Levy Increases
1.45
%
1.00
%
1.80
% 2.85
%
2.89
%
1.70
%
1.99
%
1.90
% 2.94
%
0.50%
1.00
%
1.00
%
1.26
%
1.00
%
1.50
%
1.00
%
0.0%
1.0%
2.0%
3.0%
4.0%
Mar
kham
Ric
hmon
d H
ill
East
Gw
illim
bury
Vaug
han
Kin
g
York
Reg
ion
New
mar
ket
Aur
ora
Geo
rgin
a
Whi
tchu
rch
Stou
ffvill
e
2020 Base Levy Increase % Added for Capital / Infrastructure
Not
Yet
Ava
ilabl
e
January 13, 2020 The Corporation of the Township of King 32
Presenter
Presentation Notes
Insurance Administration Municipal Insurance Program Claims Administration Financial Reporting General Accounting Management Reporting (monthly) Annual Audited Financial Statements Payroll Bi-weekly (PT & FT) Quarterly (volunteer FF) Procurement Quotes and tenders RFPs Property Taxation & Water Billing Interim, final and supplementary Quarterly water billing Financial Planning Multi-year budgeting (2019-2022) Operating and capital Business Plans
The Path Forward for 2020 2021-2022 Draft Budgets to Council
2021 Budgets – Directions Report
Mid-Year Op-Ex & Cap-Ex Report Cards
2020-2022 Strategic Plan Development
Approval of 2020 Budgets
by Council
Q2
Q1
Jan 2020
Q2
Q3 Q4
Set 2020 Tax Rates by Assessment Class
January 13, 2020 The Corporation of the Township of King 33
CONCLUSION
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1 2 3
January 13, 2020 The Corporation of the Township of King 34
