One of the most important tasks for Council is setting the municipality’s annual operating and capital budgets.
2024 budget deliberations
Council will begin 2024 budget deliberations on Monday December 4. Council has set aside the entire week, December 4 – 8, for budget deliberations. The public is encouraged to follow the County on Facebook and X/Twitter for updates throughout the week.
View the key documents related to the 2024 budget below:
The public is invited to get involved in a variety of ways:
How are your tax dollars spent?
Your tax dollars support the delivery of a wide range of public services and programs. That includes everything from public safety (policing, by-law enforcement, provincial offences administration) to transportation services like road and sidewalk maintenance and snow plowing.
Your tax dollars also support recreation services and facilities, waste management services, long-term care services, and planning and development. A portion of your tax dollars are also directed to external agencies and boards that in turn deliver health and social services, library services, and conservation services for Prince Edward County.
What is the difference between operating and capital budgets?
The operating budget details what the County will spend on programs and services during a given year and where the money will come from to pay to deliver those programs and services.
The capital budget outlines the County’s plan for funding the snowplows, fire trucks, vehicles, roads, buildings, and other infrastructure that support the delivery of programs and services.
Frequently Asked Questions
Property taxes are levied to all property owners for goods and services used by the broader public or for public good. These programs and services are things such as climate emergency costs, affordable housing initiatives, and roads maintenance.
User fees are paid by individuals for municipal services that are a direct benefit to the individual. For example, someone wishing to rent a town hall for a wedding reception, or someone seeking to rent the ice pad for a family skate.
County staff maintain a system of internal controls to ensure assets are safeguarded, transactions are properly authorized and recorded in compliance with legislative and regulatory requirements, and reliable financial information is available on a timely basis for preparation of the consolidated financial statements.
Consolidated financial statements reflect the municipality’s assets, liabilities, revenues and expenses. As required by the Municipal Act, financial statements are prepared annually by staff and are audited by an external auditor for the County in accordance with generally accepted accounting principles for local governments. The Audit Committee meets with management and the external auditor to review the consolidated financial statements and discuss any significant financial reporting or internal control matters prior to their approval of the consolidated financial statements.
Property taxes are the largest source of revenue for the County (XX per cent in 2023). Other revenue sources include federal and provincial funding and user fees. (Click here to see full breakdown of County revenue).
The Ontario Municipal Act limits how the County and other municipalities in the province can generate non-tax revenue. In 2017, the Ontario government gave municipalities a new revenue tool in the Municipal Accommodation Tax (MAT). In February 2021, the County implemented a 4% MAT on short-term, roofed accommodation stays.
By law, half of the funds generated by the MAT will remain with the municipality to support tourism infrastructure development. The other half must be used to support tourism marketing and development.
Previous Budget Reports
If you wish to request any of these documents in an alternative accessible format, please contact the County’s Finance Department.