ANNUAL REPORT

wellandarium

COW-AnnualReport2016

Building On

Your Tax Dollars

The Finance department is responsible for providing direction, policy, advice, and leadership for the following:

financial services, purchasing, taxation, water & sewer retail billings, investment portfolio, development

charges, financial planning & reporting, tangible capital assets, including oversight of both the Operating

Budget and 10 year Capital Budgets. The department continues to focus on maximizing the long term fiscal

sustainability of the city and updating such plans on an annual basis as part of the annual budget process.

2016 Residential

Property Tax Information

Distribution of your tax dollars: An example based on an average

residential property with an assessment value of $196,000.

11.7%

EDUCATION:

$368.48

41.6%

REGION:

$1,308.67

$7,874,598

14.56% Roads,

Sidewalks, Street

Cleaning, Winter

Control and Streetlights

2016 Operating Budget Breakdown

$7,517,068

13.90% Administration, Clerks, Legal,

Finance, and Human Resources

$54,084,450

2016 OPERATING BUDGET

$4,906,896

9.07% Transit – Conventional,

WellTrans and Inter-municipal

$4,882,547

9.03% Debt

$3,076,791

5.69% Contribution

to Capital Projects

$2,433,241

4.50% Contribution

to Reserves

$2,283,978

4.22% Community Planning,

Building and Economic Development

$3,148.53

PROPERTY TAX

$8,472,838

15.67% Fire Protection

$2,212,290

4.09% Operating Grants (Library,

Museum, Airport, Heritage Welland)

46.7%

CITY: $1,471.38

FOCUSED ON

MAXIMIZING LONG TERM FISCAL

SUSTAINABILITY

~Steve Zorbas, Chief Financial Offcer

$10,136,296

18.74% Parks, Recreation, Pools,

Arenas and Wellness Complex

$287,907

0.53% Other Grants (permissive,

contractual and waiving of fees)

22

City of Welland | Annual Report 2016

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