Looking to the future
Town of Stratford passes $20-million budget
The Town of Stratford has approved its 2024-2025 budget.
During a special town council meeting on March 28, the town approved the proposed $20,622,150 operating capital budget, as well as the 2024-25 Stratford utility and capital budgets of $8,938,200.
The operating budget for 2024-25 will see a $0.02 increase in residential municipal taxes, with a projected additional $0.02 increase in each of the following two years. The budget also includes an increase of $0.08 for apartments and $0.10 for commercial businesses.
Coun. Ron Dowling, the chair of the finance and technology committee, said the town's operating budget has become increasingly difficult to maintain a balance without negatively affecting service or program levels or requiring cuts to important infrastructure projects. He also pointed out that municipalities in P.E.I., including Stratford, have been without a revenue sharing agreement with the province since March 2022.
He said that while negotiations are ongoing and there is hope for resolution, municipalities are unable to anticipate a deficit when crafting annual operating budgets, given the current and anticipated needs for community investment.
The tax increases will enable the Town of Stratford to meet the needs of the community by investing in areas like the addition of an RCMP officer, accommodating the requested increase in fire dues for the Cross Roads Rural Fire Company and continuing with programs such as the residential tree planting program, he said.
“We recognize that residents are experiencing increases elsewhere in today’s economic climate, and we, too, have inflationary pressures on our budgets. Through feedback in the draft budget survey, however, it was positive to note that while a mix of views on the tax increase were expressed, a majority of respondents did favour the direction of the budget and the proposed areas of expenditures and investments.”
The budget also includes several investments such as opening a new mini ballfield at Fullerton's Creek Conservation Park, installating solar panels at Stratford Emergency Services Centre and town maintenance buildings (subject to funding), implementing additional supports identified in the first annual business survey and other consultations, hiring a human resource position, implementing other recommendations from the organizational review and increasiing in the operational budget of the Stratford Youth Centre.
“This budget considers the needs we have today, while also looking ahead to the future. Like you, we are excited about the future opportunities ahead for our community – both those you can easily see such as the Community Campus development. We will continue to work hard for our community, to make the investments needed, to save and cut when and where we can, and to remain open and transparent in our decisions,” he said.