The City of Kenora is ready to put to bed it’s capital budget.
Director of Finance Ryan Marsh says because of a $308,000 increase to their Ontario Communities Infrastructure Funding (OCIF) next year, they were able to reduce their tax hit.
“The final budget implications for the 2024 draft capital budget is a reduction of $162,445 through the net tax levy,” Marsh told Kenora city council last week at their Committee of the Whole meeting.
At the same time, Marsh says they were able to put almost $145,934 towards the Municipal Paving program for asphalting with no impact to the tax levy.
Marsh points out as a result of the extra OCIF funding, the city was able to reduce the municipal contribution to the Capital Budget this year.
“The overall impact the next tax levy for the 2024 capital budget is $907,030. Just to note, the net impact levy for 2023 was $1,079,443.”
Council is scheduled to pass the Capital Budget on Wednesday.
(File photo)
