O’LEARY -- The 2014 municipal tax rate for the new Town of O’Leary will be the same as the Community of O’Leary’s in 2013. Finance committee chair, Carol Ferguson presented the 2014 budget figures during O’Leary’s annual meeting Tuesday night, its first since becoming a town. She projected a balanced budget achieved with out changing the tax structure. It stays at 81 cents per $100 assessment for non-commercial properties and $1.20 per $100 for commercial properties.
Taxation will bring in an estimated $316,093 in revenue in 2014, $85 more than what’s needed to balance the books if everything stays on course.
Some of the biggest changes in budget figures in 2014, compared to the actual expenditures in 2013 are streets and sidewalks, up $10,000; fire protection, jumping $20,000 CN Station, up nearly $11,000, and miscellaneous expenses climbing $9,000. There are some even larger decreases.
Recreation expenditures are expected to decrease $48,000. That’s mostly because of the department’s $42,000 expenditure for hosting the successful Under 1 Girls National Fast Pitch championship last year. The park budget drops $16,000 and expenditures for operating the Alice Duncan Intergenerational Centre will be cut nearly in half to $15,635, most of that from discontinuing the after-school program.
Mayor Stanley MacDonald said the town is in good financial shape. He is expecting the financial picture to get brighter this year with the paying off of some loans.