Budget

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The municipal budget process identifies the annual levy requirement, which is the amount required from taxation for the budget after all revenues, fees, service charges, grants, and fund transfers have been recorded.

Council calculates predicted revenues, and uses these to offset the spending in the budget. The remaining amounts are covered by a levy increase. There is also potential for a decrease or maintaining the current rate.

Council has obligatory and discretionary reserves, deferred reserves, and surplus accounts.

Generally, these funds are use for capital costs and funds are added annually to these funds. They can also be drawn from, with permission from Council, for emergencies.