Draft budget for Mono prepared
The first draft of Mono’s 2006 budget shows the town collecting about $1 million more from residents than it did in 2004.
In 2004 the total was just under $4 million and 2006’s will be nearly $5 million — $4,984,772.
However, compared to the 2005 projected yearend total of just over $4.5 million it would be an annual increase of less than six per cent.
The hike of 5.9 per cent for 2006 comprises of a 2.4 per cent increase for growth and and estimated 3.5 per cent for inflationary increases.
Information on the final 2006 tax roll (tax information on Mono properties) is not available until next month. However, MPAC (Municipal Property Assessment Corporation) has provided Les Halucha, Mono Treasurer, with information indicating the average residential property increase due to re-assessment is about 12 per cent.
This means compared to the 2005 tax rate the 2006 one should decrease.
This is the earliest a draft budget has ever been available for Mono.
“The problem with doing a budget before the year is over is that you’re doing a lot of estimates,” said Mr. Halucha.
The capital budget for roads is about $1.4 million. The largest portion of that is $826,000 for a bridge on Hurontario St. north of Hockley Road. The town has made a grant application to Canada Ontario Reinvestment Fund (COMRIF) to cover the majority of the cost at $550,666.
Camilla Park, first proposed by Camilla residents has a budget of $118,000 for development charges.
Another big ticket item is trail development at $202,000, which an application has been made for the full amount.
Since it is the first draft budget the numbers will change slightly. For example, under development fees it currently sits at $0. This will change because Aragon Ltd. fees need to be added in.