Finance and Administration Committee approves reductions to 2004 Regional budget

NEWMARKET – York Region's Finance and Administration Committee yesterday recommended endorsement of the 2004 Regional Business Plan and Budget.  Final approval of the $1.7 billion gross expenditure budget will be sought by York Regional Council on Thursday, March 25th, beginning at 9:30 a.m.

 

The 2004 budget has been re-worked considerably since the draft submission was first presented to Regional Council in January.  The proposed 2004 Regional tax impact has been reduced from 8 per cent to 6.3 per cent – representing a savings of 1.7 per cent equivalent to $8.2 million.

 

"Politicians and staff have done tremendous work reviewing the 2004 budget, and creating significant savings for our taxpayers," said Bill Fisch, Regional Chair and CEO.  "The budget process is a difficult exercise, but a worthwhile one, just the same."

 

The proposed tax levy impact can be separated in three categories:
• Directed controlled Regional programs – 0.9 per cent tax levy impact
• Indirectly controlled Special Purpose Bodies – 0.4 per cent tax levy impact
• York Regional Police – 5.0 per cent tax levy impact

 

Based on an average assessed residential property of $332,205, the proposed budget will result in an average household tax increase of $91 – or a savings of $25 since the January budget submission.

 

"The magnitude of the Regional budget, in tandem with initial budget estimates, has made this a lengthy and difficult process," said Town of Markham Mayor Don Cousens, Finance and Administration Committee Chair.  "However, we have made great strides to get to today's recommendations."

 

With $9.2 million in Regional program savings previously identified, the 2004 budget for directly controlled Regional programs is $607 million.  The following additional savings in directly controlled Regional programs have also been realized in the 2004 budget:
• $1.6 million in program adjustments
• $1.2 million in assessment growth adjustments
• $3 million in GST rebate savings

 

In indirectly controlled Special Purpose Bodies, the committee also previously approved the York Regional Police Services $145.7 million budget.  This represents $2.7 million in budget reductions from the original York Regional Police submission to Finance and Administration Committee on February 5th.

 

A $23.8 million budget increase from last year, the police budget represents 5 per cent of the total Regional tax impact.

 

The remaining 0.4 per cent tax impact stems primarily from GTA Pooling, which has been adjusted by an additional $700,000, for a total of $79.5 million.

 

 

For more information on the Regional Municipality of York, the services we offer and links to our nine area municipalities, please visit our Web site at www.region.york.on.ca

 

 

 

Contact:  Patrick Casey, Acting Director, Corporate Communications, York Region
- (905) 830-4444, ext. 1235 or cell (905) 715-8211
- Email: patrick.casey@region.york.on.ca

 

 

 

 

The Regional Municipality of York is committed to providing cost-effective, quality services that respond to the needs of our rapidly growing communities.  York Region is comprised of the following nine area municipalities:  Aurora, East Gwillimbury, Georgina, King, Markham, Newmarket, Richmond Hill, Vaughan and Whitchurch-Stouffville.  For more information, visit our Web site at:  www.region.york.on.ca