No change in mill rate for 2025 in Ritchot budget

There is no change to the mill rate in Ritchot’s financial plan for 2025, but as it’s a reassessment year homeowners might still see an increase.

“Last year total RM tax collection was $16.17 million whereas this year it is $19.76 million, the increase in tax collection is mainly due to increase in school division requisitions which is about $2.16 million more than the last year,” said CFO Muhammad Zaman.

“Last year total municipal revenue and expenditures were $18.94 million whereas this year it is about $17.81 million, a decrease of $1.125 million is due to decrease in other revenue sources and capital projects costs because last year there were grants money from the province that was for daycare projects,” he noted.

Zaman submitted the plan during Tuesday’s night’s council meeting where he reported that this is a reassessment year. He reported the mill rate from last year of 7.950 mills will not change this year because the assessment has raised revenue for the RM.

“Municipal portion of taxes would be around $1,252 on a home with assessed value at $350,000. School division and any special levy is not included,” said Zaman.

The revenue in the operating budget is $17.81 million largely from municipal taxation (43 percent) and other revenue sources, such as sale of services and government grants. The municipal operating reserve is $10.2 million with a forecasted revenue of $3 million.

Utilities

The operating revenue for the utility is just under $5 million with the reserve reaching $2.9 million. Operating expenses are just under $5 million with the majority, or $2.6 million going towards capital projects and $1.5 million going towards water and sewer.

Municipal expenses

Ritchot is spending $18 million on municipal expenses including $1.7 million on municipal paycheques, conferences, intergovernmental relations and insurance. This is a $32,121 increase, or 1.9 percent, from last year.

For protective services the municipality is spending $1.4 million (a 39 percent increase over last year) or eight percent of the total budget, while transportation is taking 18 percent of the budget ($3.1 million); fiscal services such as debt has taken 29 percent of the budget ($5.1 million); and transfers to reserves tops out at 17 percent ($3 million).

Economic development had a 37 percent increase from last year jumping to $931,330, which Zaman said was due to a sum of $350,000 set aside for car sharing and incubation development projects, including two new positions: one for a car share project and one for the incubation project. The funds of which come from grants.

Recreation and cultural services saw a 10 percent increase in 2025 with $1.6 million being spent on salaries, programs, grants for community centres and halls, skating rinks, arenas, playgrounds, libraries, and cultural events.

Debt

In terms of debt, the Ste Agathe fire hall will be paid off in 2038 and the IDC Community Centre will be paid off in 2032.

Capital Projects

Some capital projects in 2025 include housing needs projects under the housing accelerator funding stream of $566,369; EV car share project of $400,000; St Adolphe daycare fence and stucco project of $70,000; incubation space equipment of $60,000; and municipal office expansion of $50,000.