Every time your street is plowed, your garbage or recycling bin is collected, or you visit a park or arena, you are witnessing your tax dollars at work. Municipal budget decisions set the funding for important infrastructure, programs, services, and facilities we depend on to maintain our quality of life.
- Asset Management
An Asset Management Plan enables informed decisions regarding the building, operating, maintaining, renewing, replacing and disposing of infrastructure assets. It is structured to including the following important elements:
In 2013 Council approved the municipality’s asset management plan which consolidated the municipality's existing asset management plans for roads, bridges, culverts, fire assets, parks, streetlights, water and sewer assets, and facilities.
On December 13, 2017, the province approved a municipal asset management planning regulation under the Infrastructure for Jobs and Prosperity Act, 2015. In accordance with regulation, we finalized our Strategic Asset Management Policy and updated our Asset Management Plan to include all municipal infrastructure assets.
To learn more about Asset Management Planning, watch this short video by the Federation of Canadian Municipalities (FCM)
- About Municipal Budgeting
A municipal budget is a policy and planning document that outlines our municipality's priorities, and is a balancing act between often competing priorities - what can we afford and providing a high level of services to citizens.
Every year, municipal staff put forward a preliminary budget and then the Mayor and Council, with input from Middlesex Centre residents and businesses, make choices about municipal services and programs. It is an ongoing process as each year budgets are drafted, revised, reported, presented, approved, adopted, and monitored. Your annual budget is made up of three parts:
- The operating budget provides the necessary resources to deliver programs, services and facilities services to meet the needs of our growing community, and accommodates for inflationary pressures. The operating budget is funded primarily through property taxes and user fees.
- The capital budget provides for the infrastructure requirements of the municipality as identified in our Asset Management Plan. The capital budget is funded through property taxes, reserves, development charges, debt and grants. The capital budget is used to either build or rehabilitate assets that will last for more than one year.
- Reserves and reserve funds receive annual contributions from the operating budget to assist with creating a solid financial position to support the municipality’s future cash requirements. Maintaining sufficient balances in reserves and reserve funds is a critical component of a municipality’s long-term financial plan as it strengthens its long-term financial sustainability, helps to minimize fluctuations in the tax rate and provides funding to sustain infrastructure.
This Budget Basics video, made available courtesy of the City of London, offers an overview of the municipal budgeting process.
For more information on how we develop the budget, please review our "Budget 101" presentation.
- Developing the 2024 Budget
Learn more about how we are developing the 2024 municipal budget
- 2023 Budget
Council approved the 2023 Budget at their meeting on January 11, 2023.
Middlesex Centre's 2023 Budget received a Distinguished Budget Presentation Award from the Government Financial Officers Association. This award recognizes municipalities that demonstrate the highest principles of governmental budgeting.
- Previous Municipal Budgets
Council approved the 2022 municipal budget at their December 15, 2021 meeting.
Middlesex Centre's 2022 Budget received a Distinguished Budget Presentation Award from the Government Financial Officers Association. This award recognizes municipalities that demonstrate the highest principles of governmental budgeting.
On December 16, 2020, Middlesex Centre Council approved the 2021 municipal budget. The 2021 combined operating and capital budget amounted to $57.4 million, and resulted in a property tax increase of 1.47%.
On December 18, 2019, Middlesex Centre Council approved the 2020 municipal budget. The 2020 combined operating and capital budget of $55.2 million incorporated a 9% increase in the levy and a 2.23% tax rate increase.
On February 6, 2019, Middlesex Centre Council ratified the 2019 budget representing an investment of $55 million in expenditures.
- Open Budget
The Municipality of Middlesex Centre is committed to government accountability and financial transparency. As part of that commitment, we've launched Open Budget - a data visualization tool for displaying financial information.
Open Budget is designed to display the municipal budget in an easy-to-understand format. Through Open Budget, users can learn more about Middlesex Centre's infrastructure projects, capital budget and operating expenditures, and compare budgets year-over-year.
- Financial Reports
Financial statements for the Municipality of Middlesex Centre are compiled and audited annually according to Public Sector Accounting Board standards. Statistics are compiled according to the provincially mandated Performance Measures Program. The purpose of this program is to provide alternative measures from financial results to stakeholders.
For more information, we encourage you to read the financial documents below.
- Financial Statements
- Municipal Financial Statements (2022)
- Municipal Trust Fund (Cemeteries) Financial Statements (2022)
- Municipal Financial Statements (2021)
- Municipal Trust Fund (Cemeteries) Financial Statements (2021)
- Municipal Financial Statements (2020)
- Municipal Trust Fund (Cemeteries) Financial Statements (2020)
- Municipal Financial Statements (2019)
- Municipal Trust Fund (Cemeteries) Financial Statements (2019)
- Fiscal Health - Financial Dashboard
- For 2022, please see the Supplementary Information in 2023 Budget (under "Financial Key Performance Indicators")
- Municipal Fiscal Health & Sustainability Analysis / Financial Dashboard (2021)
- Municipal Fiscal Health & Sustainability Analysis / Financial Dashboard (2020)
- Municipal Fiscal Health & Sustainability Analysis / Financial Dashboard (2019)
- Financial Information Returns (FIR)
Middlesex Centre's Financial Information Returns (FIR) can be found on the Ministry of Municipal Affairs and Housing - Financial Information Returns website.
- Treasurer's Statements
- Middlesex Centre Regional Medical Clinic
- Long-Term Financial Plans
The Long-Range Financial Plan provides a framework for financial decision-making that includes including strategies and key actions to facilitate multi-year, integrated, strategic decision-making.
The documents presented above will be made available in alternative formats if required.