Budgets

2023-2024 Budget highlights

The Town’s operating budget, excluding Police, includes $62M (2023) and $64.8M (2024) for the delivery of day-to-day services to resident and businesses, and a Capital Levy of $10.1M (2023) and $11.7M (2024) for the repair and replacement of assets. The capital budget of $68M (2023) and $53M (2024) looks ahead to identify the infrastructure needed to maintain and build Town assets.

Highlights of the 2023/24 Operating budget include:

• Fire Protection - $8.8M
• Parks and Open Spaces - $3.2M
• Roads, Sidewalks and Winter Control - $6.2M
• Sports, Recreational Activities & Facilities - $9M
• Library Services - $3.9M
• Police - $12.8M

Key Capital Projects:

• Roads Rehabilitation - $19.4M
• Innisfil Beach Park Improvements - $6.2M
• 25th Sideroad Improvements - $11.3M
• Lockhart Road Improvements - $6.2M

Budget deliberation recordings

Council deliberated the 2023-2024 Budget on January 25 and 27, 2023.

Guiding financial policies

Every Town project, initiative and goal, as well as our budget planning, is guided by our Community Strategic Plan: Innovative Innisfil 2030. This plan was developed through extensive consultation and thousands of comments and pieces of feedback from the community. The pillars of Grow, Connect and Sustain guide our strategic goals and initiatives.

We also use these Town financial policies to guide our decision-making when developing the budget:

• Capital Budget Funding Policy
• Debt Management Policy
• Fleet Management Policy
• Multi-year Budget Policy
• New Residential Streetlights and Intersection Streetlights Prioritization Policy
• Ontario Lottery and Gaming Corporation (OLG) Slot Revenue - Allocation and Utilization Policy
• Property Tax Surplus/Deficit Disposition Tax

2023-2024 Budget engagement

Thanks to everyone who took the time to complete our budget survey! Check out the engagement summary report to see what your fellow neighbours said about service level priorities. Please email us at budget@innisfil.ca with any comments or questions.

Breakdown of your tax dollar

Your property tax bill may be paid to the Town of Innisfil, but only 46 cents of every dollar stays with us. We use this portion to provide the many critical services you rely on every day, from maintaining parks and roads to delivering fire and rescue services and so much more. We also set aside funds for the Town’s Capital Levy. 

The rest goes to the County of Simcoe, South Simcoe Police Service, and the Province of Ontario (Education). The County of Simcoe is our “upper-tier” level of government that provides waste collection, paramedic services, long-term care, forestry, social services and more.

Capital Levy

Just like your car, house or electronic devices, physical municipal assets have a limited lifespan and require ongoing maintenance to extend their life. Eventually, they need to be replaced or discarded. The Town collects a Capital Levy—money set aside to help pay for the repair and replacement of existing assets or new assets and projects that aren’t eligible for funding from development charges.

How your tax dollars are calculated

Property assessment and property taxes play a significant role in the Town's budget. The Municipal Property Assessment Corporation (MPAC) is responsible for assessing every property in Ontario. The Town uses the property assessments to determine the tax rate required to collect the revenue needed to deliver services to our residents. The tax rate is then applied to the assessed value of each property to arrive at the amount of property taxes owed.

Learn more about property taxes and assessments.

Service-based budgeting

Our service-based budget breaks down costs and resources by service, rather than by department, helping residents better see where tax dollars are being spent.

Advantages of service-based budgeting

• Improved services: Taking a closer look at what we do allows us to focus on making sure we are operating efficiently and effectively.
• Back to basics: A service-based budget means every employee and leader is asking themselves about what services they provide and where they should focus their time to deliver the best value.
• Easier to understand: A service-based budget is a more simple and focused way of viewing a budget. By creating a more accessible budget, we are empowering Council and the community to have a better understanding of the value and costs of the services we provide.
• Public accountability: A service-based budget allows employees to track their time based on the services they deliver. All costs associated with the service are captured, uncovering the true cost in a more holistic way.

Operating Budget vs. Capital Budget

Learn more about the differences between an operating budget and a capital budget:

Operating Budget

The operating budget is used to keep the municipality running on a day-to-day basis.

When you call the Town to report a problem, pull over for firefighters on their way to a call, or attend a library program, this is the operating budget at work. It makes up essential services, such as pothole repairs, snow clearing and park maintenance. This budget ensures that we have engineers, librarians, community standards officers, town planners, administrative support, financial analysts and an overall great team of employees who strive to make Innisfil a great place to live.

Capital Budget

The capital budget is used to request funding for new assets, major repairs and replacement of existing assets.

Whether we are building a new health centre, replacing a roof on a building or repaving a road, this is the capital budget at work. Capital budget projects include initiatives like bridge repairs, road-widenings, new parks and facilities, and new construction, expansions or renovations.