North Perth approves 2020 Capital and Operating budget
The Council of the Municipality of North Perth has approved the 2020 Capital and Operating Budget which results in a combined 6.4 per cent levy increase.
Due to assessment shifts, the 2020 residential levy impact for the average property is about 5.6 per cent, or approximately $0.44 per day.
North Perth Council met Monday to finalize a budget expected to address the need to support important municipal services, meet service expectations and invest in infrastructure and asset needs.
$242,000 per year will be included in the annual operating budget each year to address the Asset Management Financing Strategy with expectations of closing the funding gap by 2048.
Some capital costs include the Monkton Library and Family Child Care and EarlyON Centre, the Albert Storm Trunk, the Traffic Study/Transportation Master Plan, and Line 84 Reconstruction.
The 2020 Capital Budget includes a total project cost estimate of just over $20.7 million, with carryover projects representing 79 per cent of the overall amount.
Project work is being funded by development charges revenues, reserves and reserve funds, the tax levy and a combination of provincial and federal grants.