NEWS RELEASE: Town of Grimsby Council officially approves the 2024 Budget

At the Council meeting on Tuesday, February 20^th, Town Council approved the 2024 budget with a 4.9 per cent increase to the Town’s portion of the tax levy, 1.16 per cent reduction on the Town’s wastewater tax levy, for an overall property tax increase of 4 per cent when combined with the regional and educational levies. The 4.9 per cent increase to the Town’s portion of the tax levy excluding wastewater results in residential property taxes increase by $67 per year ($5.60 a month), for an average residential household assessed at $442,000.

The 2024 budget supports valuable services and initiatives for the Grimsby community while being fiscally responsible, financially sustainable, and supportive to the needs of the organization. It builds on the momentum and progress achieved in the previous year, with a focus on building a strong and sustainable community yet maintains a continued commitment to building an innovative and vibrant community where people and the environment matter.

2024 Budget Highlights:

• $30.6 million gross operating expenditures; $17.8 million net levy.
• $7.6 million wastewater gross operating expenditures with 50 per cent funded through tax levy and 50 per cent funded through wastewater rates.
• $8.1 million water gross operating expenditures.
• Council has committed to investing $10.2 million in Capital budget that include investments in road and park infrastructure, and ensuring emergency service vehicles are maintained.

Community engagement on the 2024 budget was completed via an online survey and results were considered by the Corporate Leadership Team while preparing the budget. Throughout the budget development process, the Town took a balanced approach to prioritize the maintenance of existing services and infrastructure, while also advancing new and sustainable opportunities to enhance and expand our services in alignment with Council’s 2023-2026 Strategic Priorities.

Some of key investments being made to meet Council’s Strategic Priorities include:

• People – Supporting happy, healthy lives in a well-connected inclusive community through:
  • Customer service and communication strategies
  • The Fire Master Plan.
  • Investing in the Transportation Master Plan to support future growth.
  • Investing in active living infrastructure such as the Peach King Centre Expansion, Whittaker Park, Casablanca Beach Park, and the 40 Mile Creek Bridge.
  • Places – Fostering vibrant neighbourhoods while protecting and promoting our natural environment through:
    • Developing strong plans on how Grimsby grows, supported by the Official Plan, the Heritage Study, while balancing emerging legislative changes.
    • Protecting and improving our natural environment through the Tree planting programs and continued environmental sustainability.
    • Promoting a vibrant, active, safe Grimsby by investing in the Downtown Reimagined project, supporting the Farmers Market, and completing parking studies to support resident and commercial business needs.
    • Prosperity – Driving innovation and collaboration in our local economy to benefit everyone by investing in:
      • The Town’s website to improve information sharing and attract businesses.
      • A tourism strategy to promote the Town of Grimsby
      • The Asset Management Plan to ensure strategic investments to maximize asset life.

The 2024 budget was developed considering historical actual results inclusive of the 2023 forecast for the year, operational concerns, services delivery requirements, and identified areas of investment and resourcing. The 2024 budget ensures all Town services are maintained while respecting taxpayer affordability and considering financial sustainability.

For more information, visit https://www.grimsby.ca/en/town-hall/budgets.aspx.

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Quotes

“Council approving this budget is a huge accomplishment as it is always a challenge to strike a balance between refining the budget while prioritizing projects, programs, and service levels,” said Jeff Jordan, Mayor of Grimsby. “Through the 2024 budget, Council is investing in the Town of Grimsby’s people, places, and prosperity and I’m confident this budget balances valuable services, initiatives, and investments in the Grimsby community while being fiscally responsible, and financially sustainable”.

“Our team has spent a tremendous amount of time and effort creating a budget that appropriately balances the needs of residents and businesses today,” said Sarah Kim, Chief Administrative Officer. “Grounded in the present with a focus on the future, this budget reflects a thoughtful and balanced strategy in addressing community needs while ensuring the responsible use of resources”.