Town of Grand Bay-Westfield

2010 OPerating Budgets

HIGHLIGHTS

General Revenue Fund

• The assessment base for the Municipality has increased from $284,208,775 to $308,433,129. The increase of $24,224,354 provided an additional $331,874 in revenue for the year 2010.

• The Budget reflects maintaining the tax rate at $1.37.

• Total expenditures have increased from $4,481,431 to $4,813,154, an increase of $331,723.

• The Unconditional Grant provided to the Town by the Province has been remained the same for 2010 at $384,878.

• The cost of Policing Services provided by the RCMP has increased from $607,200 to $627,000, an increase of $19,800.

• The Town’s total long-term debt outstanding as at December 31, 2009 will be $670,000. Fiscal Services provide for a reduction in debt of $124,000. In addition, $63,000 has been allocated to implement the recommendations from the Town’s 2009 Energy Audit.

• The Fiscal allocation includes $700,000 for Capital Expenditures from Operating for Capital Work.

• The budget includes $2,000,000 in capital borrowing which is the Town’s share of costs for the development of Col. Nase Blvd.

• The Budget reflects the Municipality’s financial commitments as a member of the Greater Saint John Region totaling $101,990 as well as a commitment to the River Valley Community Center (Arena) for $189,130.

• General Government Services reflect a Cost of Assessment fee of $59,836 paid to the Province of New Brunswick, an increase of $2,994.

SEWERAGE Revenue Fund

• The annual user fee has been maintained for 2010 at $270 per unit. This rate has remained constant since 2006.

• Total expenditures for the Budget are $ 462,053.