Budget 2012


Operating Budget

The annual budget provides resources for the management and delivery of public services such as snow removal, the supply of drinking water, Public Security and Recreation activities. The principal source of financing is from the municipal property tax bill. As well, other revenues are generated either from permits, program fees and transfers from other levels of government.

Annual Local Budget 2012 2011 Variation
General Administration
Council, Finance, Director General, IT, Town Clerk, Human Resources, administrative expenses
2 227 610 2 161 763 +3.0%
Public Works
Transportation, environmental health
4 454 108 4 314 084 +3.2%
Town Planning & Building Inspection 208 045 210 151 -1.0%
Recreation and Culture 2 293 280 2 249 334 +2.0%
Legal, Insurance and other fees 865 600 753 600 +14.9%
Pension Deficit Contribution 228 000    
Financing 1 249 700 1 828 046 -31.6%
> Loans Reimbursed by Grants 250 000    
Public Security 862 110 821 889 +4.9%
CMM 200 000 230 000 -13.0%
TOTAL - Local Operating Expenses 12 838 453 12 568 867 +2.1%
Agglomeration Share 9 524 310 9 220 501 +3.3%
TOTAL 22 362 763 21 789 368 +2.6%

Overall, the 2012 operating budget for the Town of Hampstead totals $12,838,453, not including $9,524,310 for the Agglomeration's share. The Town projects an accumulated operating surplus of $1.1 million as of December 31, 2011. In terms of long-term debt, the Town is projecting an amount of $11,985,800 at the end of 2012, a total reduction of 12.6% since 2009, while financing costs have dropped 34% in the last two years.

 

Property Tax Rates

For the fifth consecutive year, Hampstead local property tax rate increases have been kept below the rate of inflation. Local property tax rates will increase by 1.9% in 2012, well below the expected inflation rate for this year. This responsible and reasonable increase is in stark contrast to the growth of the Agglomeration share charged to Hampstead, which will jump 3.3% next year. The average tax increase to Hampstead ratepayers will therefore total 2.6% in 2012.

In 2012, the municipal tax rates (per $100 of valuation) will be:

Property Type Mill Rate
For residential properties containing 5 housing units or less $1.2167
For apartment buildings with 6 or more units $1.2457
Vacant lots $2.4334

With a residential rate of $1.2167, the ‘average single-family dwelling' will be assessed a 2012 Hampstead tax bill of $11,231. It must be stressed that this example reflects the impact of the taxation rates on the average single-family dwelling. Tax bill increases/decreases will vary depending upon the change in valuation of each individual property.

 

Capital Works Program 2012-2013-2014

The 3-year capital works program encompasses the programs that the Town wishes to undertake in the coming three years to maintain and upgrade its infrastructures and/or improve the quality of urban life. Different sources of financing are available through long-term loans which account for the debt of the Town. The annual capital and interest payments made to repay this debt are integrated in the operational budget and make up part of the financing costs. Each project needs to be individually approved by council.

Using proceeds from the upcoming sale of the vacant Macdonald Avenue Fire Station, the Town has planned an ambitious yet necessary capital works program for the coming three years to renew aging infrastructure. Over $4 million will be invested into major roadworks, including the completion of the reconstruction of Fleet Road as well as major repaving projects for sections of Queen Mary Road and Netherwood Crescent. Significant efforts to rehabilitate the street light, sidewalk and water networks will also continue.

CATEGORY PROJECT 2012 2013 2014
Vehicle and Equipment Vehicles replacement program   150 000  
Information Technology Wimax/WIFI communication network 170 000    
Municipal Installations Town beautification projects 50 000 50 000 50 000
Tennis lights 14 000    
Tennis court - rest area   18 000  
Tree planting 25 000 25 000 25 000
Municipal yard - catch basin 29 000    
Infrastructure Rehabilitation Water mains & sewers 650 000 830 000  
Street light rehabilitation 112 000 46 000 46 000
Sidewalk rehabilitation 155 000    
Roads network rehabilitation 4 073 000 444 000 485 000
Parks and Green Spaces Wexford Park rehabilitation 25 000    
Various park upgrades 76 000 140 000 90 000
TOTAL – Capital Investments $ 5 379 000 $ 1 703 000 $ 696 000

 

Documents for Download

Supporting documents for the 2012 budget are available for download below:

Document Date of Release
Complete Budget Presentation 2012 December 19, 2011
Budget Overview 2012 (Expense/Revenues/Capital Works) December 19, 2011
Financial Report from the Mayor for the year ended December 31, 2010 November 7, 2011