Quick facts

During, or at the end of 2023:  

Bank debt (see file):  $15,140,400; Interest paid: $453,122;  Principal repaid: $1,060,866; Total debt charges: $1,514,088;  Average interest rate 2023: 2.78%;  

Surplus (see file):  $695,345; Accumulated surplus: $3,469,640 (down from a high of $7,267,442 in 2021 due to financing of the rec center);

Average surplus (2020 through 2023): $686,888;  Average surplus (2017 through 2023): $587,848  .

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Infrastructure spending (see file): $89,559 (no major road renewal), only major infrastructure project was undertaken since 2020 (Fenwick 2021) 

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Rec center spending: $3,431,886; cumulative rec center spending: $4,986,911, plus about $200K prior to 2022 which may not include the original 2016 study.

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Total property taxes:   $15,521,071.

Council salaries: Total $133,055 + $36,097 benefits =  $169,152;  Individual salaries (excl. benefits):  Mayor: $34,114 + 17,057 expenses = 51,171;

Other councillors (excl. benefits): $13,647 + 6,824 expenses = $20,471.   Annual council salaries are tied to inflation (although in 2023 councillors only took a 3.5% increase instead of 5% inflation); councillors receive a 2% pension per year of service.   

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2024

Tax increase: 7.6%; Tax increase for the 3 years 2021 to 2024: 21.1%  (see file).

Total property taxes: $16,748,150; Residential taxes: $14,875,371, Commercial tax: $1,806,706 , Vacant land: $66,073.

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Budgeted expenses:  Total = $19,654,056; Agglomeration: $7,606,517 , or 38.7% of total expenses (lowest in the Agglo, 3rd lowest per capita).

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Budgeted debt charges: $1,981,055; local expenses: $12,047,539;  budgeted debt charges are16.4% of local expenses.