The City of Greater Sudbury’s proposed 2024-25 budget is being tabled on Nov. 15, but what will it mean? In short, it’s city administration’s proposed municipal budget, which follows city council’s direction to limit annual increases to 4.7 per cent. The finance committee of city council will debate this base budget in December, and is slated to settle on a final version by the end of the year.
With various costs increasing in recent months (the non-residential building construction price index reached 9.9 per cent as of the fourth quarter of 2022), limiting the tax increases to 4.7 per cent will require staff to cut $10.5 million from the base budget. During 2023 budget deliberations, city staff were charged with trimming $17.8 million from that year’s base budget to hit that year’s desired maximum tax increase, which they did in a manner outlined in a report presented to city council. A similar such report will be presented to city council members on Nov. 15 highlighting where the $10.5 million is being drawn from. Ward 5 Coun
Source: News Formal (newsformal.com)
City Of Greater Sudbury Budget 2024-25 Municipal Tax Increase Finance Committee
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: sudburydotcom - 🏆 6. / 89 Read more »
Source: sudburydotcom - 🏆 6. / 89 Read more »
Source: PGCitizen - 🏆 65. / 51 Read more »
Source: BurnabyNOW_News - 🏆 14. / 77 Read more »
Source: BurnabyNOW_News - 🏆 14. / 77 Read more »
Source: globebusiness - 🏆 31. / 66 Read more »