Lambton County's proposed 2022 budget amounts to nearly $247 million and calls for a 2.5 per cent hike in the amount to be raised through taxation.
Finance General Manager Larry Palarchio said that represents an $11 increase for every $100,000 of residential assessment.
"Our governing principal hasn't really changed much from previous budgets, in that we want to make sure that we invest wisely to continue building our county services while maintaining a solid financial position," said Palarchio.
"In 2022, we're looking at a $246.9 million dollar budget, or approximately half a million or $500,000 more than last year, which is less than .1 per cent of our costs. Which is showing quite a bit of costs contained."
Palarchio said the county has planned for a decrease in COVID-19 grants and subsidies.
"We're starting to see some of our government grants and subsidies dry up, specifically in areas like our safe restart funding," said Palarchio. "We also utilized a little less debt in our capital plan than we did in 2021, so there's primary reasons for the reduction in property tax revenues."
Palarchio said a $69.2 million operating budget and $15.7 million dollar capital budget are proposed.
"When you take a look at our regulated programs, such as public health, long term care and social services, 65.8 per cent of our gross expenditures are dedicated to those service areas. That's followed by our expenses in infrastructure and transportation of 12.8 and our corporate support such as finance, facilities, provincial offenses, information technology at 9.8 per cent."
Palarchio said the county experienced nearly one per cent of assessment growth last year, which generated about $700,000 in additional revenue.
Lambton County budget deliberations are scheduled to begin March 2 at 9:30 a.m.
-with files from Josh Boyce
