Press Release - 2023 Budget Meetings Schedule

PRESS RELEASE - 2023 Budget Meetings

The Town of Ingersoll released the first version of its 2023 budget today ahead of its first budget meeting on Monday, January 16, 2023.

The first draft of the operating budget presents a total gross operating expenditure of $17.56 million ($17.28 million -2022). The total requirement from taxation in 2023 is $16.8 million, compared to $16.5 million in 2022. This represents an increase in the tax levy of $364,816 or 2.22% which results in a tax rate increase of 0.92%.

The draft capital budget looks to invest $7 million in rehabilitating and replacing current municipal assets. It continues the town’s robust asset management program ensuring the town’s infrastructure is maintained while adding no new debt.

Council will be considering this budget to ensure it is meeting its goals and the goals of its strategic plan for 2023.

The budget sets aside an additional $300,000 for the new Multi-Use Recreation facility that the new Council will be considering this year in order to determine next steps toward the eventual construction.

This budget also plans for the completion of the secondary plan for lands brought into the municipality through boundary adjustment. Most of those lands were brought in for employment lands purposes and given the demand for industrial lands in the town it is necessary to continue to plan for the future.

Quote by Mayor: “We have seen unprecedented economic development growth in 2022 and we expect that to continue. With the 400,000 square foot addition to Cami, the 250,000 square foot development of DOT foods and the 120,000 square foot development of Carson Co. already underway, the town must ensure it is ready for the next wave of industrial development.

The budget meetings are scheduled for 6:00 p.m. on the dates below:

• January 16, 2023 – Draft Budget Review - View Agenda  View Presentation
• January 30, 2023 – Capital Budget
• February 23, 2023 – Operating Budget

 The public can participate in the budget process by making a delegation request to any budget meeting by contacting the Clerk’s department. Delegation requests must be received in writing by 4:00 p.m. on the Wednesday preceding the meeting, but will also be received subsequent to the preparation of the agenda and may be heard upon majority approval of Council if the matter is considered to be urgent or related to an agenda item. Delegation requests may be sent via email to clerks@ingersoll.ca

 Any budget questions can be referred to the Treasurer by email Iryna.koval@ingesroll.ca or calling 519- 485-0120 ext. 6227.