Council Approves 2025 Budgets

• 2024-11-27

At the regular meeting of Council held on Thursday, 21 November 2024, the Oromocto Town Council passed resolutions to adopt the balanced 2025 operating ($28.46M) and capital ($2.84M) budgets and the utility operating ($4.73M) and ($10.95M) utility capital budgets.

The new population of the amalgamated Oromocto (including the new ward 4 – Lincoln) is 11,910.  Wards 1, 2, 3 Oromocto Tax Base Value for 2025 is $1.757 Billion.  Ward 4 Lincoln Tax Base Value for 2025 is $0.316 Billion.  Total assessed values for 2025 Tax Base $2,073,174,600. The Province is applying the 10% cap (spike protection) over 35% of the properties.

The Chief Administrative Officer presented the budget to Council at a public session held on 13 November 2024 which included the following capital budget highlights: 

• Increase the mil rate to 1.4301 for Wards 1, 2, 3 and 0.9757 for Ward 4 Lincoln.
• Hold the 1.7 multiplier on non-residential properties.
• Increase the fixed rate on water bill to $112.50/quarter.
• Reduce water consumption rate to $3.30 per cubic meter.
• Proceed with the Oromocto Community Wellness & Recreation Centre project
• Continue catch up on some delayed capital re-investment in equipment and fleet
• Continue dealing with the growing cost of water/sewer appropriately.
• Proceed with planning of a new sewage treatment lagoon and takeover of Base Water Treatment Plant/Waste Water Treatment Plant.
• Re-invest in aging water and sewer infrastructure.
• Meet major investment targets outlined in the 5-year financial plan approved by Council

For more information, a summary document is available by clicking here.

Cindy Goguen, Public Information Officer
Phone: (506) 357-4442  Email: goguen@oromocto.ca