The ABC's of Municipal Budgeting
Each year the Town follows a similar process when it comes to the overall planning for the Town budget. That being said, the Town is always looking for new and innovative ways to engage our residents in the municipal budget. We have visited many community events, hosted public open houses, and created an interactive online survey in our quest to get our residents two cents on how they would like to see their tax dollars spent.
Here are the general steps that are taken when formulating the Town's budget:
The operating budget is the plan for the day-to-day operations at the Town including salaries, materials and supplies. The operating budget is largely funded by tax dollars and user fees, which include charges for recreation programs, water and sewers.
The capital budget is the annual plan for the purchase and financing of the Town's capital assets. Capital assets include infrastructure, lands, buildings, machinery and equipment. Some examples of capital projects include parks and trail enhancements, the development and renovations of community spaces like the Town of Newmarket Magna Centre, Riverwalk Commons and the Old Town Hall.