BACKGROUNDERFOR IMMEDIATE RELEASE
REGION OF PEEL – BUDGET 2010
2010 Operating Budget
$1.6 Billion (Including non-Regionally controlled programs)
* Note: Included in the $136.9 million Water budget, is $16.0 million in costs related to Conservation Authorities. Restated: Water is $120.9 million, 8% of the total Region Budget and Conservation Authorities is $27.9 million, 2% of the total Region Budget.
2010 Regional Capital Budget
Approach to new capital expenditures:
- Largest components are Transportation, Water and Wastewater
- Primary focus will be completing works already approved and in process
- Completion of stimulus projects will continue to be high priority
Source of Capital Budget Funding:
48% Development Charges
12% External Funding, such as the provincial, federal government or other partners
2010 Tax Rate Increase 1.9%
2010 Utility Rate Increase
- Increase mainly due to declining consumption
- Despite increase Rate remains competitive for industrial users
- Changing seasonal weather patterns can significantly influence consumption
- Infrastructure Stimulus Funding allowed for 1 Year suspension of increase in capital reserve contributions
- Rate structure under review
The Region of Peel serves 1.2 million residents and approximately 85,000 businesses in the cities of Brampton and Mississauga and the town of Caledon. Peel is one of the fastest growing municipalities in Canada and continues to experience significant population growth. In 2010, it is projected that the population will grow by 21,000 new residents. The Regional Municipality of Peel was incorporated in 1974 on the principle that certain community and infrastructure services are most cost-effectively administered over a larger geographic area.
For more information on the Region of Peel and the 2010 Budget, please visit www.peelregion.ca.