Budget Committee

The Budget Committee shall:

Review and assess budget principles, allocations and related financials, providing advice to the Chief Administrative Officer and Director of Finance on the annual budget;
Receive presentations from each department, as required on financial matters;
Evaluate the budgetary implications of proposals for new and substantially revised programs and services in advance of Council’s budget deliberations.

Elgin County 2021 Budget

At their meeting on February 9, 2021, Elgin County Councillors approved a $72.4 M operating cost budget and a $39.1 M levy – a $1.8 M increase over 2020. The levy represents a tax increase of 2.9% on an average property and as an example equating to approximately $61 on a $350,000 home. The 2021 Budget is a financial plan that has been developed to produce the best possible outcomes for Elgin County residents in a way that utilizes tax dollars in a prudent and responsible manner. Careful planning, the use of reserves and leveraging debt have allowed for modest, reasonable tax increases over the next ten years.

Committee Members

Warden Marks (Chair)

Councillor Giguère

Councillor Ketchabaw

Councillor French

Elgin County 2021 Budget Survey

The Elgin County Budget Committee surveyed members of the public regarding their priorities for the 2021 Elgin County Budget. The results of this survey are linked below.

Survey Results

2021 Budget Process Timeline

October 27, 2020: Committee Meeting

The Budget Committee will review and approve the budget process timeline and will review and approve the template and information which will be contained in departmental presentations.

November 9, 2020: Committee Meeting - Departmental Review

The Budget Committee will receive presentations from each of the County of Elgin’s core services and provide comment and suggestions.

November 24, 2020: Committee Meeting - Departmental Review #2

The Budget Committee will review revisions made to Departmental Budgets based on feedback given at the November 9 meeting.

December 10, 2020: Committee Meeting - Consolidated Budget Review (Operating and Capital)

The Budget Committee will review and provide feedback on the Consolidated Budget (Operating and Capital).

January 12, 2021: Council Meeting - Budget Overview

County Council Reviews the Consolidated Budget as presented by the Budget Committee and provides feedback.

January 12, 2021: Committee Meeting - Council Follow-up

The Budget Committee reviews the feedback about the Consolidated Budget as provided by County Council and discusses any actionable items. A discussion about tax rate will also occur at this meeting.

January 26, 2021: Council Meeting - Final Budget Review

County Council will review the final details of the Operating and Capital Budgets for 2021 and will set proposed tax rates.

Glossary of Budget Terms

Capital Assets

Infrastructure, land, buildings, machinery, equipment and other items that provide long term benefits.

Infrastructure

Capital Assets that deliver essential public service to support commercial and residential activities (ie. roads, water and sewage systems).

Operating Budget

The annual plan for the purchase and financing of the County’s operations. It includes salaries, materials and supplies. After all revenues are matched (ie. user fees), the tax levy and reserves are used to balance the budget.

Reserves

An allocation of accumulated net revenue to set aside funds for future expenditures.

Capital Fund

The portion of a capital project that has been paid for by borrowing, either through debentures or borrowing from the County’s own reserves. Over time, the capital fund will be paid down through taxation.

Capital Budget

The annual plan for the purchase and financing of Capital Assets.

Infrastructure Deficit

The gap between what is required to maintain infrastructure and what funding is available.

Public Sector Accounting Board (PSAB)

The rules for Municipal Financial Statements.