The municipal budget prioritizes projects, programs and service levels based on anticipated revenues and expenses for the next calendar year. Essentially, the budget is a carefully prepared document that outlines spending allowances while ensuring there are adequate funds available to support municipal services for the community.
Budgets and Financial Services
Budgets
A budget is a financial plan that outlines all projected revenues and expenses for the Township of Ramara. Municipal finance refers to the revenues and expenses that support the operations of the Township. Revenues are generated through local taxes, other municipal sources, and grants from provincial and federal governments. View the Township of Ramara’s budgets from recent years on this webpage.
2025 Municipal Budget
At the Special Council Meeting on November 25, 2024, Council adopted the 2025 Municipal Budget, which includes a 5.14% increase in the municipal portion of the tax rate. This represents an additional $30.65 per $100,000 of assessed property value.
The 2025 budget prioritizes investment in Ramara’s core infrastructure, including roads, water, and wastewater services, with $12.9 million allocated to capital projects.
Frequently Asked Questions
What are the Two Major Components of a Budget?
Within the municipal budget, there are two major components:
- The operating budget accounts for the day-to-day expenses for operations, such as program staff, facility maintenance, and utilities.
- The capital budget plans for the construction of new assets or improvements or repairs to existing municipal assets, such as facilities or equipment.
How Does the Township Balance the Budget?
The Township is required by provincial law to balance its operating and capital budgets each year. Simply put, the money raised must balance the money spent. To balance the budget, the Township can do the following:
- Increase its revenue stream through raised property taxes and fees; or
- Manage expenses through adapting or reducing the cost of programs and services
Money is raised in two streams:
- Tax rate: funded primarily through property taxes
- User fees: user fees that are intended to make the programs and services self-sustaining. These include parking, water and wastewater and recreation.
Money is spent on the day-to-day expenses for program and service delivery including Township road and sidewalk maintenance, recreation, library, parks, trails and fire services.
Money is raised through a combination of property taxes, development charges, grants and reserves.
The Township's Capital Budget must plan for the following year while preparing for long-term investments. All Township of Ramara infrastructure projects are funded through the Capital Budget. A large part of that funding is directed toward maintaining and rehabilitating existing infrastructure. The Township's Capital Budget also prepares spending for new projects that will enrich lives and make your city a better place to live and do business. The Capital Budget pays for new facilities, playgrounds, and infrastructure to support growth. Money is spent on projects designed to create, enhance or restore the service potential of the Township's significant network of assets, which include infrastructure (roads, bridges, buildings etc.), land, equipment and vehicles.
View Past Budgets
| View Past Budgets | View Budget Highlights |
|---|---|
| 2024 Budget Highlights | |
| 2023 Budget Highlights | |
| 2022 Budget Highlights | |
| 2021 Budget Highlights |
Capital Plan
A 10-year capital plan ensures that the Township of Ramara plans, budgets, and maintains assets to maximize asset lifecycles and ensures efficient use of available budgets. The plan is typically updated annually based on information such as condition assessment data, risk assessments and other studies and plans. The 10-year capital plan can change based on Council decisions and budget availability. Prices are also subject to change due to inflation and costs.
Financial Statements
- 2024 Financial Statements
- 2023 Financial Statements
- 2022 Financial Statements
- 2021 Financial Statements
- 2020 Financial Statements
- 2019 Financial Statements
- 2018 Financial Statements
- 2017 Financial Statements
- 2016 Financial Statements
Financial Information Returns
Accounts Payable
The Township of Ramara offers payments to vendors (corporate or individual) via direct deposit into a bank account. A vendor can sign up using the vendor direct deposit forms.
Contact Us
Corporation of the Township of Ramara
2297 Highway 12, PO Box 130, Brechin, ON, L0K 1B0
T. 705-484-5374
E. ramara@ramara.ca
Township of Ramara Financial Services
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