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Thursday, February 8, 2018

Goderich Looks To Slash Spending With Grants, Reserves

Goderich | by Peter Jackson  

CAO Larry McCabe says $8.2 million in capital projects could be cut to $4 million.

As the Town of Goderich works toward finalizing its 2018 operating budget, the Chief Administrative Officer is confident the spending plan for capital projects is well in hand.

Larry McCabe tells Country 104.9 News that the $8.2 million bottom line for infrastructure and recreation projects is being chopped to less than $4 million through grants and reserve funds.

By far the biggest ticket items for 2018 are the $4 million Agricultural Park revitalization project and almost $2 million for street reconstruction.

Over $1 million is being raised through the community toward the Ag Park project, while grants and transfer payments from the province are helping in other areas.

McCabe says capital projects represent around $125 thousand on the tax base.

He points out that Council is concerned with reducing the operating budget increase to what he calls an acceptable level for ratepayers.

McCabe reminds us that the numbers going into Monday's preliminary budget session were drawn up in November, before the 2017 year-end surplus was known.

He mentions other numbers like reserves are flexible, and likely will help to drop the anticipated tax increase.

Goderich Council looks to finalize the 2018 budget on February 28th.

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