For Immediate Release: February 9, 2017
At the regular Stratford Town Council Meeting on February 8, 2017, the Stratford Town Council passed resolutions to adopt the 2017 Town operating and capital budgets and the 2017 Utility operating and capital budgets. Before Council passed the 2017 budgets, Deputy Mayor Randy Cooper, the Chair of the Finance and Technology Committee, gave a detailed presentation on the budgets.
The following are some of the highlights from the budget presentation:
- In the 2017 Town budget, we are forecasting revenue of $5,086,800 and expenses of $5,145,400, with a resulting deficit of $58,600; however on a cash flow basis, we have a surplus of $71,400. The majority of the Town’s revenue, more than 3.5 million dollars, is from property tax as well as the Municipal Support Grant which is just over 1 million dollars.
- Town revenue is up 6% from 2016.
- Town expenses for 2017 are up 5% over the 2016 budget.
- Stratford has approved a balanced budget with no increase to municipal tax rates which will remain at $.44 per $100 of assessment for residential properties and $.99 per $100 of assessment for commercial properties.
- The town plans to complete the Community Energy Plan and move into implementation to help residents, businesses and the town corporation increase energy efficiency and the use of renewables and decrease greenhouse gas emissions.
- Stratford will continue its investment in the active transportation network, including an additional section of sidewalk on the Georgetown Road and the completion of the Trans Canada Trail on the Mason Road.
- A solar energy project is planned for the Stratford Town Centre to save 110,000 Kwh of electricity and reduce greenhouse gas emissions by 32.4 tonnes per year.
- The Town will invest in new software and an updated web site to improve electronic transactions and interactions.
- The Town of Stratford will be implementing water metering, to make better use of the precious resource that is our drinking water supply
- The Town has allocated funds for the construction of a delivery system to pump our sewer to Charlottetown; however, this project will not be approved by Council, until an agreement is reached which addresses resident concerns about cost and control.
- Stratford has approved an increase in water and sewer rates, the latter of which will be phased in over three years to help pay for whatever the permanent sewer treatment solution will be.
The following rate increases will be in effect as of July 2017:
- The water for a single family dwelling (SFD) will go from $68.25 to $72.25 per quarter;
- The sewer for a single family dwelling (SFD) will go from $82.25 to $95.00 per quarter;
- The consumption charge for metered water will go from $0.805 to $0.8526 per cubic meter; and
- The consumption charge for metered sewer will go from $0.9706 to $1.1210 per cubic meter.
A copy of the budget document, containing more detailed information, is attached.
Trevor Abbott – 18 Unit Apartment Building – 47 Glen Stewart Drive
Council approved an application from Trevor Abbott to develop an 18-unit, 3 storey apartment building on parcel number 1035468 (1.24 acres) located at 47 Glen Stewart Drive.
Transit Fund Application
The Town of Stratford supports the application to the Public Transit Infrastructure Fund in the amount of $448,320 (net of federal HST), of which 25% is the municipal share ($112,082), of which 15% is the Town of Stratford’s share ($16,812).
For more information please contact:
Erin Clarke, Community Engagement Coordinator
Phone: (902) 569-6921