Lakeshore budget deliberations scheduled

for January 30 and 31

The Municipality of Lakeshore’s draft 2023

Budget will be presented to Council at the
upcoming meeting on Tuesday, January 10,
with deliberations scheduled for January 30
and 31.
The draft Budget proposes a 4.74 percent
tax rate increase, along with increases to
water and wastewater rates. The proposed
rates would mean a total average monthly
increase of $13.41 for property owners.
“The draft 2023 Budget is presented during
a time of extraordinary financial pressures
which have affected municipalities and
residents alike,” said Justin Rousseau,
Lakeshore’s Corporate Leader – Chief
Financial Officer.
The draft Budget’s executive
summary notes that Lakeshore is grappling
with a nearly 13 percent increase in
insurance premiums, along with inflation
that has impacted the cost of goods and
services (up 7 percent as of August 2022)
and non-residential construction (over 25
percent increase since 2022.) Meanwhile,
an ongoing delay to update property
assessment values means that taxes for
the year continue to be based on property
assessments from 2016.
“However, even with those ongoing
pressures, the proposed increases remain
below the rate of inflation,” Rousseau said,
adding that a one-time transfer of $1.02
million from the tax stabilization reserve
would be used to mitigate the full impact of
inflationary pressures on residents and
taxpayers.
“The presentation of the 2023 draft Budget
comes at a critical time for Lakeshore. On
the one hand, we are dealing with
significant increases in the cost of our
operations due to inflation. On the other
hand, the need to invest in resources to
ensure we can achieve our strategic
priorities and maintain service levels after a
period of tremendous growth,” said mayor
Tracey Bailey. “As a Council, we
understand that every dollar matters. The
draft budget illustrates our commitment to
maintaining our competitiveness in the
region while positioning Lakeshore for the
future.”
“I look forward to hearing feedback from
residents and local stakeholders ahead of
deliberations at the end of the month,”
Mayor Bailey added. “With the new budget
process, Council and I have ample time to
share the draft document, dig into the
details, and ensure we continue to deliver
the valuable programs and services our
residents expect.”
Council will meet to discuss the 2023
Budget on January 30 and 31, from 9:00 to
5:00 PM. The draft 2023 Budget can also
be viewed online at Lakeshore.ca/Budget. 
Draft 2023 Budget highlights (page 4): 
 Total expenditures of $56.7 million 
 $39.1 million in revenue 
 $17.58 million in recoveries 
 $25.6 million for capital projects
including: 
 $11.1 million for Patillo Road, Major
Street, and Lilydale Avenue
Reconstruction/Rehabilitation 
 $2.6 million for County Road 22
Watermain Replacement 
 $150,000 for a Wastewater Master Plan 
 $10,000 for a Rat Abatement Pilot
Project 
 $100,000 for a Ward Boundary Review 
 $75,000 for Lakeview Park Playground
Resurfacing