City of Pitt Meadows Launches 2013 Budget Process
For further information contact
Mayor Deb Walters
Phone: 604-465-2416 or
City of Pitt Meadows launches 2013 Budget Process
Pitt Meadows, BC: The City officially began the 2013 Financial Planning process with the issuance of the departmental business plans and financial plan overview. The proposed 2013 Operating Budget is $28.9 million including water, sewer, solid waste, and drainage and features an additional $353,000 for infrastructure reserve provisions as well as reduced debt servicing costs of $148,000. In the general fund there is a modest general municipal property tax increase of 2.13% with an impact of approximately $29 on Pitt Meadows average home. A further increase of 1% is being sought for strategic capital reserves.
The proposed 2013 Capital Budget and Plan is just over $12 million of which almost half relates to upgrade and replacement of the City's drainage infrastructure. The capital works program continues to place emphasis on maintaining and protecting the City's existing infrastructure and assets. Spending in this area is down considerably from previous years.
Mayor Walters noted that "the City provides services to the community with infrastructure (buildings, road, pipes, etc.) valued in excess of $300 million. Pitt Meadows, like most other growing communities continues to have a challenge with growing service demands while trying to ensure there is sufficient funding to replace and maintain aging drainage, water, sewer and transportation infrastructure. To work toward this, for 2013 many expenditures in the proposed operating budget have been held or reduced from the 2012 levels to focus on infrastructure funding without undue taxpayer impact."
The City recently paid down almost 2/3rds of its borrowing through the use of proceeds from the South Bonson Land Sale. The reduced debt service costs are reflected in the proposed budget. Mayor Walters equated the "the City's current borrowing situation is similar to having a $7,500 mortgage on a $300,000 home."
For 2013, a 1% municipal property tax increase raises approximately $153,000 in general taxation revenue and increases taxes on the average residential home by about $14. Overall building construction is currently valued at just under $23 million for 2012 with only about one third coming from commercial development.
Residents and businesses are invited to participate in the 2012 Budget process. All meetings are open to the public with an informal Budget open house on December 11 from 5:00 to 6:00 pm and the ability to make a formal public presentation to Council at the Council meeting on December 11 at 6:00 pm or by e-mailing written submission to firstname.lastname@example.org no later than 4 p.m. on December 11, 2012 Residents can also attend full departmental business presentations on December 5, 2012 5:30 pm until 9:00 pm and then December 6 , 2012 9:00 am – 5:00 pm. Complete schedules and copies of the business plans are available on-line and at the Pitt Meadows Public Library and City Hall. Council budget deliberations will start on December 13, 2012 with conclusion likely by the end of the year . For more information, visit: http://www.pittmedows.bc.ca/budget2013