Past Year Financial Review and Current Year Budget
	2005 Water Rates; Past Year Financial Review and Current Year Budget; Property Tax and Assessment Information

Message from the Mayor and Council

We are pleased to present this financial summary of the Town’s operations for 2005, as well as a summary of the 2006 budget estimates. For taxpayers who are looking for more information, a copy of the 2005 Consolidated Financial Report and the Auditor’s report is available from the Treasury Division, Corporate Services located at Town Hall.

Every year Council faces the usual challenges of rising costs and aging infrastructure. However, this year Council also had to deal with major swings in assessment values. These changes in assessment were further complicated by the fact that the provincial government puts capping restrictions on the multi-residential, commercial and industrial classes. The capping restriction limits the amount of revenue that the municipality can collect from these classes. Despite these challenges, we feel that Council has met their objective of maintaining services with a minimal impact on the average taxpayer.

In 2005, we yielded an operating surplus, which a portion will be applied to the 2006 operating budget and the remaining amount to the working capital reserve. This kept the increase in the 2006 operating budget to a 0.3% increase. We are very pleased with this minor increase as we have been faced with increases in all operating costs including electricity, gas, supplies, benefits and wages. Our budgeted operating cost for 2006 is $14,511,242.

This year, our capital budget will total $1,531,000. This was made possible due to grants available from the senior levels of government including $900,000 from COMRIF, $915,388 from Move Ontario and $336,007 from the Gas Tax. This totals $2,151,395 of which $782,000 will be used toward the 2006 capital budget. Some of the main projects that we will be doing this year are the Poplar Avenue reconstruction from Prospect to Lebel and a sidewalk along Allen Ave. from Fifth St. to the new Kirkland Lake District Composite School. The other projects are listed in this brochure under Capital Budget.

Due to the above grants, Council will have $1,593,395 available for our 2007 capital projects. This is the first time that Council can recall that we will have money available and set aside for the following years capital budget.

The one area we wish to address is our uncollectible taxes. We have over $1 million booked as uncollectible or doubtful taxes which is approximately 15% of the revenue we generate every year through municipal taxes. We understand that some people are having financial difficulties, but ignoring the situation will not solve the problem. If you are in arrears, contact our tax division and they will help you to develop a plan to assist in the repayment of your taxes.

It is always a process of give and take and we all hope, that at the end of the day, we have made the right decisions for the people who have given us the honor of representing them.

Mayor: Bill Enouy
Councillors: Tony Antoniazzi, Linda Cunningham, Al French, Norm Mino, Todd Morgan, Don Weisflock

Every attempt has been made to ensure the accuracy of the information in this brochure. In the event of any discrepancies, inquires should be made to the Director of Corporate Services.