Finance and Taxation
The Finance Department's primary role is to manage the Township's financial resources in a fiscally responsible manner. The Department is responsible for the receipt and expenditure of Township funds, maintaining the Township's accounting and other financial records, budget development, payroll & employee benefits administration, and year-end financial reporting. The Township Treasurer is responsible for providing financial information and advice to both Council and all Township Departments.
| Type of Finance | Description |
|---|---|
| Budget | Operating and Capital budgets are approved annually and explain how the collected tax dollars will be used. The Budget Page includes all documents considered by Council during budget deliberations. Also beginning in 2016 will include quarterly updates on the current year approved budget. |
| Financial Statements | Each year, audited financial statements are published in accordance with Canadian Public Sector Accounting Standards (PSAB). |
| Asset Management Plan (AMP) | The AMP complies with the requirements as outlined within the Provincial "Building Together Guide for Municipal Asset Management Plans." |
| Property Taxes | Property taxes are billed twice each calendar year on an interim tax bill and a final tax bill. The Township is responsible to collect taxes on behalf of the County of Oxford and the school boards with jurisdiction in our municipality. Property taxes are calculated based on the assessed value of the property using the tax rate for the property classification. |
| User Fees | Residents pay a "user fee" for some services each time you choose to use them. User fees can help the Township keep the cost of property taxes down by making sure that services which only a few people choose to use are not paid for by everyone. The Township looks at all of its user fees and the cost of delivering services to decide if any changes need to be made. Other fees change based on direction from Council. |