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From The Mayor’s Chair

From The Mayor’s Chair

From The Mayor’s Chair

June 30, 2008

Budget 2008/Centennial 2008 Update

Dear Residents and Ratepayers of Kearney,

Budget 2008

At our June 26, 2008 regular Council Meeting the Budget for 2008 was approved. I am pleased to report that the property tax increase for 2008 has been contained at 3.7%, which is an increase of $30.31 per $100,000 of assessment. The principle difference between the proposed budget increase of 8.39% and the actual increase of 3.7% is the financing of 2 significant capital costs, namely, the replacement of the Community Centre roof ($126,000) and the Town Dock ($80,000).

Incidentally, Kearney’s 3.7% property tax increase sets the new Residential Rate at .0085406, which is one of the lowest rate of all municipalities in our area.

Initially, the draft budget financed these 2 critical items (the Community Centre Roof and the Town Dock) out of this year’s property taxes. In the revised and approved Budget 2008, these 2 capital expenditures will be debentured or amortized over a number of years. Concern expressed with this approach included: increasing municipal debt and deferring costs to years when we may be hit with unforeseeable and/or significant costs. Nevertheless, as you may be aware, the Town is currently evolving to a more comprehensive financial management strategy that will position the Town on a very sound financial footing as we move into 2009. Some of the highlights of our Plan;

1) Effective January 1, 2009, in alignment with PSAB (Public Sector Accounting Board), the Town will be converting to an asset based financial management system that separates expense and capital cost.

2) A Roads Needs Study has been completed; it indicates the need for capital investment in the amount of $21,000,000 to bring our roads and infrastructure up to today’s standards. This Study will be complemented by a Capital Investment Strategy and Reserve Needs Study.

3) The studies listed above and the Capital Investment Strategy will form the basis for a Municipal Financial Management Plan and Strategy.

4) Tools that will help us to achieve our objectives are an enhanced Municipal Finance and General Ledger Software System (Munisoft), our GIS (Geographic Information System), expert financial consultation, and our plans and strategies.

In late summer, we will establish a Financial Management Committee, which will comprise all Members of Council along with some public representation, the involvement of our financial consultant and our Auditor.

Speaking of the Auditor, we are expecting the 2007 Audit Report to be available over the next several weeks. I look forward to this Report because it will confirm that Kearney, your Town, is being well managed, that our processes and controls are fundamentally sound, and that our financial health is improving. We will be reporting the results of the 2007 Audit as soon as they are available.

Centennial 2008 Celebrations Update

This past weekend was our Homecoming Weekend and home they did come. We had hundreds of past residents and old friends visit the Town to rekindle old friendships and see how their Town was doing; all accounts were positive and everyone had a great time. Things kicked off with a Wine & Cheese Reception on Friday, with close to 200 persons participating. The Opening Ceremonies Saturday morning included a dull speech by the Mayor followed by a concert of amazing Town musicians, fiddlers, singers, and home grown songs. There were tributes to 4 notable Kearneyans (Ralph Bice, Dr. Wilf Pocock, Ernie Craig, and Jim Proudfoot Jr.). There was a BBQ, the Kearney Beavers had a Children’s Activity tent - their bubble blowing event saw huge bubbles float by the beautifully decorated pavilion, we had the official opening of our new playground equipment, and much more.

Later in the day, many enjoyed the Kearney Lions Lobster Fest or the Kearney Legion’s Spaghetti Supper; both served to capacity crowds. Saturday night folks danced away the evening to terrific live music and an Ole Fashioned Dance. Sunday was time for worship, the Kearney Slow Pitch Season Opener, and an Evening Hymn sing.

The Annual Kearney Regatta, with a Centennial flavour, is the next BIG EVENT (Civic Holiday Weekend). You won’t want to miss it! To learn more visit our Centennial Website by clicking on http://kwef.ca/Kcent and pick up a copy of the CENTENNIAL 2008 CALENDAR OF EVENTS.

Our Centennial Book – KEARNEY 100 Years – is going through its final review and we hope to have it available by Regatta.

All that we have achieved to date with our Centennial Celebrations, and what is still to come, could not be possible without the hard work, creativity, and Town spirit of our volunteers. You are too many to name in this article and even if I tried I know I would miss someone; that would be inexcusable.

Please know this, our very dear volunteers, that I am overwhelmed by what you do and what you accomplish. Thank you all so very much.

Jeff Johnston

Darn Proud To Be Your Mayor

For information about the
Town of Kearney, Ontario Centennial Celebration,
please click here!