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Council discusses long term financial plan

July 10, 2025   ·   0 Comments

By Brian Lockhart

New Tecumseth Town Council recently received a report on its 10-year financial plan.

This is a tool to map the Town’s vision, not a budget or a commitment. The intent is to ensure operational goals align with the Town’s financial goals.

Town staff takes into consideration any initiatives that Council has proposed, the long-range financial plan, asset management, existing capital, and the operating base.

The plan takes into consideration the growth plan that is expected to see the Town of New Tecumseth reach a population of 80,590 by 2051.

Town staff salaries represent around 44 per cent of the budget. This includes a cost-of-living increase of 2.5 per cent every year.

The transition to full-time firefighting staff includes the addition of four to five individuals per year up until a staff of 40 is reached in 2025, and will include an estimated cost of $34 million.

In 2026, a savings of $219,000 is expected due to Simcoe County’s newly formed insurance pool of which New Tecumseth is a member.

An increase of $277,000 is expected for OPP policing. 

As for revenues, speed enforcement is expected to bring in $3.8 million. Permit revenues are expected to generate $2.2 million.

Residents can expect a cost increase of 12.5 per cent for water, and 8.5 per cent for wastewater. A comparison of water and wastewater rates with other nearby communities reveals that New Tecumseth is still in the lower end, ranking 10th out of 15 communities.

The Town is expecting an annual increase of around $9.8 million in operating costs as a result of growth.

The 10-year financial plan lists several major projects by year.

These projects include:

• 2026 Collingwood WTP, Beeton CC (2026-2028), Church St. N. Road and Bridge
• 2027 Beech St. Watermain, TTM Phase 2, Booster Station on Regional Pipeline, Elevated Water Storage, and indoor pool
• 2028 14th Line Bridge, 10th Line Reconstruction and 14th Line East Reconstruction
• 2029 Church Street upgrades and Albert Street upgrades
• 2030 New Alliston Library and Beeton Creek Bridge
• 2031 Ice Pad and Victoria St. E. upgrades
• 2032 BEWTF Expansion, New Roads Facility, Building Upgrades and Drainage Works
• 2033 Tottenham Watermains, Sidewalks, Building Upgrades and Drainage Works
• 2034 Force Mains, Bridge Rehabilitation, Drainage Works and Building Upgrades

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