City debating budget containing 1.5 per cent increase

 

City budget talks are underway this afternoon at City Hall.

The 2018 Financial Plan, put forward by director of finance Kris Dalio, provides for general operating expenditures of $131.1 million.

“This amount excludes taxes collected for and remitted to other levels of government and/or taxing authorities in the amount of $43.4 million,” states his report. “A taxation increase of $2,740,000 is required to maintain core service levels and funding for contractual commitments. There are no recommended changes to the other city tax levies. The combined total taxation increase for 2018 is proposed to be 1.50 per cent, which includes an estimated offset of $1,231,074 in non-market change tax revenue.”