At Monday’s council meeting, members gave final approval to the city’s 2024 operating and capital budgets.
The increase to the municipal tax levy this year will be 2.95 per cent. This was achieved through the use of $300,000 from reserves to help fund capital projects.
The gross expenditure for the capital budget is $51.7 million and $155.2 million for operating expenses.
The average St. Thomas home will pay approximately $3,055 (excluding the education component) for municipal property tax next year. This is an $88 increase over this year.
Council had started budget deliberations looking at a 3.49 per cent levy increase.
It was Coun. Jeff Kohler who pushed to lower the levy below the three per cent mark by accessing reserves.
Contractual increases in wages and benefits – $2.5 million – and wages and benefits for new positions next year – $1.4 million – are the biggest contributors on the operating side to the tax levy increase.
In total for next year, the city is looking at adding 15.55 full-time equivalent positions, six of those with the police service.
In total, 48 capital projects are recommended for approval by council.
Complete Streets roadworks projects top the list at $9.2 million, Kains Street reconstruction comes in at $5.7 million and the new animal shelter has been green-lighted at almost $3.7 million.
Six projects have not been recommended for approval including $200,000 for the replacement of a shelter at Pinafore Park.
The addition of a cricket pitch at Cowan Park – an estimated total cost of $175,000 – didn’t make the cut.
The requested grant funding to St. Thomas Elgin General Hospital – $2.5 million – and Hospice of Elgin – at $600,000 – are not included in the 2024 budget, to help offset the larger-than-normal levy increase that was projected, according to Director of Finance Dan Sheridan.
To hold the line, the city will defer granting funds to those capital campaigns until 2025.
