Andrea TaylorFinance Department705-739-4220 ext: firstname.lastname@example.org
January 11, 2021: Service Partner presentations to City Council
January 18, 2021: Budget Deliberations at General Committee
January 25, 2021: Council approval
All meetings available to view on Rogers TV Barrie
Ontario municipalities receive only 9 cents of every tax dollar raised in Ontario, while the Provincial and Federal governments receive 44 cents and 47 cents respectively. In contrast to this, municipalities own 57% of the capital infrastructure, while the Provincial Government owns 41% of Infrastructure and the Federal Government only 2%.
Barrie taxes are very
comparable to other municipalities. In fact, they are in the lower end of other major southern Ontario cities.
Standard & Poor's reaffirmed the City of Barrie’s AA Credit Rating, with stable outlook.
The annual Business Plan & Budget outlines how the City plans to allocate resources to deliver the programs and services residents and businesses rely on every day.
After many amendments to the City's proposed budget, City Council approved a 0.92% tax increase for 2021 on January 25.
Proposed 2021 Business Plan & Budget Overview presented to
2021 Business Plan & Budget Overview presentation
Proposed 2021 Business Plan & Budget documents
Service Partner presentations to
Barrie Police Services Board presentation
Barrie Public Library Board presentation
County of Simcoe presentation
Jan. 18th Budget Deliberations at General Committee
Jan. 19th Budget Deliberations at General Committee
The City is required by provincial law to balance its operating and capital budgets each year. Simply put, the money raised must balance the money spent. To balance the budget, the City can either:
Money is raised in two streams:
Tax rate: funded primarily through
property taxes, user fees and reserves
User rate: funded primarily from reserve funds and user fees which are intended to make the programs and services self-sustaining. These include
water and wastewater.
Money is spent on day-to-day expenses for program and service delivery including:
Money is raised through a combination of property taxes, development charges, debt issuance, grants and reserves.
Money is spent on
capital projects designed to create, enhance or restore the service potential of the City’s significant network of assets, which include infrastructure (roads, bridges, buildings etc.), land, equipment and vehicles.
Like many other municipalities, the City of Barrie is facing significant financial impacts due to the pandemic. Each year, staff work to balance the cost of providing City services with existing resources. 2021 was more challenging than usual given the significant financial impacts the City is facing through the wake of COVID-19. During the 2021 budgeting cycle, staff and Council continued to look for more ways to find efficiencies through innovation, to make tax dollars go farther. In 2021,
City Council approved the lowest tax increase in 20 years.
Similar to a personal or household budget, the City’s budget is affected by factors beyond our control that impact the cost of a program or service:
Like a resident, the City’s utilities (gas, hydro) and materials costs increase every year. While the City works hard to find efficiencies that reduce the impact of these increases, they do effect property taxes if the City is to maintain the existing service levels provided to residents.
There is only one property tax bill. Of the residential property tax bill:
Like most municipalities, Barrie has a significant gap between the amount of money available each year to maintain its infrastructure and the amount of money needed to ensure infrastructure remains in a state of good repair.
That’s why the City created a
Dedicated Infrastructure Renewal Fund that’s used only for the replacement and rehabilitation of Barrie’s roads, bridges, buildings and other infrastructure.
The majority comes from residential and commercial property taxes. Other sources of revenue include user fees, Development Charges (capital budget), grants & subsidies from other levels of government and contributions from reserves.
Of Barrie's 2019 residential property tax bill:
Similar to savings accounts, reserves and reserve funds receive regular (annual) contributions as part of the budget process. They are a critical component of the City’s long-range financial plan as they strengthen our financial sustainability, help to minimize fluctuations in the tax rate, provide funding for infrastructure and provide the flexibility to manage debt within the City’s Debt Policy.
reserve is established by Council for a specific purpose but the funds do not relate to any particular asset and there is no requirement for the reserves to earn interest. Reserves are created either through a planned contribution established in the budget process or through the transfer of unspent funds at the end of a year. Any transfer of unspent funds at year end must be authorized by Council.
reserve fund is similar to a reserve except that the reserve fund assets are segregated and restricted to meet the purpose of the reserve fund. There are two types of reserve funds; obligatory and discretionary reserve funds. Obligatory reserve funds must be created whenever a statute or legislation requires funds received for special purposes be segregated from the general revenues of the municipality i.e. Development Charges. Discretionary reserve funds are established through a by-law of Council for a specific purpose. Investment income generated by reserve funds must be accumulated in the reserve fund and accounted for as part of it.
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