At the Tuesday, November 26, 2024 Budget Meeting, Council passed a motion to approve as amended the Draft 2025 Operating Budget with a Municipal Levy of $32,728,233 which represents a 6.68% increase over the 2024 Operating Budget and a 5.36% net increase after allowing for New Assessment Growth of 2.32% and an infrastructure levy of 1.00%. The budget is scheduled to receive final approval
by Council at the December 18, 2024 Regular Council Meeting.
The 2025 Budget process began on August 1, with the initiation of phase one community engagement. The Draft Budget was released on October 21. The divisional staff budget presentations took place the week of October 28 and outlined community engagement results, key operating and capital budget drivers, special projects, cost avoidance and savings initiatives. Phase two community engagement launched November 6 with results presented to Council at the November 26, budget meeting.
Environmental Budget:
At the November 26 Budget Meeting, Council considered the 2025 Town of Cobourg Environmental Services Budget recommendations. Council has recommended the approval of an Operating Budget for Environmental Services indicating a Total Revenue of $ 7,428,764 and Total Expenditures of $ 5,118,741 resulting in a Net Operating Surplus of $ 634,023 which will be transferred to the Sewer Rates Reserve; and the 2025 Capital Budget for Environmental Services for the Town of Cobourg in the amount of $1,676,000.
Infrastructure Levy:
New to the 2025 budget strategy is the introduction of a 1% infrastructure levy. Cobourg, like other communities across Ontario, faces the ongoing task of replacing aging infrastructure.
The introduction of a 1% dedicated infrastructure levy will assist the Town of Cobourg build appropriate reserves to address these major budget items as they develop.
Budget Approval at December 18 Regular Council Meeting Council completed a full review of the draft 2025 budget at the November 26 meeting, therefore, the Thursday November 28 meeting has been cancelled. If any member of the community has further questions about the budget or would like to address Council, they may do so by requesting to speak at the December 18, 2024 Regular Council meeting. For additional information please contact clerk@cobourg.ca or call 905-372-4301 x 4402
For a full review of the draft budget, visit EngageCobourg.ca
Author: Pete Fisher
Has been a photojournalist for over 30-years and have been honoured to win numerous awards for photography and writing over the years. Best selling author for the book Highway of Heroes - True Patriot Love
