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The assessment base for the Municipality has increased from $184,129,469
to $196,224,442. The increase of $12,094,973 provided an additional
$160,862 in revenue for the year 2004.
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The Budget reflects a tax rate increase of .01 cents to $1.33, which
represents a $10.00 annual increase for a resident owning a $100,000 home.
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Total expenditures have increased from $2,900,960 to $3,085,093, an
increase of $184,133.
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The Unconditional Grant provided to the Town by the Province has been
decreased by $36,409 resulting in a grant of $327,683 for 2004.
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The cost of Policing Services provided by the RCMP has increased from
$480,000 to $510,000 an increase of $30,000.
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The Town’s total debt outstanding as at December 31, 2003 will be $709,000.
Fiscal Services provides for a reduction in debt of $351,085. In
addition, $50,000 has been allocated to the Capital Reserve Fund for future
capital purchases and construction projects.
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The Transportation allocation includes $72,000 for Capital Expenditures
from Operating for street improvements.
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The Budget reflects the Municipality’s financial commitments as a member
of the Greater Saint John Region totaling $82,777 as well as a commitment
to the River Valley Community Center (Arena) for $128,723.
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General Government Services reflect a Cost of Assessment fee of $39,245
paid to the Province of New Brunswick, an increase of $2,419.
SEWERAGE REVENUE FUND
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The annual user fee has been maintained at $245 per unit. This
rate has been held constant since incorporation on January 1, 1998.
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Total expenditures for the Budget are $384,493, which includes a transfer
to the Capital Reserve Fund of $25,000.
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