Thompson Local News

City holds public hearing for financial plan

 

City Council chamber was full of people on Thursday night that wanted to hear the City’s 2016 financial plan.

 

A presentation was made that detailed the key points of the plan, including mil rate increases of 3.2 percent for residential and 0.2 percent for commercial properties, an annual total revenue of $30 million, and proposed utility rates through 2017.

 

Now that the public has had their say, City Manager Gary Ceppetelli describes the remainder of the process to finalizing the budget.

 

“The requirement was having that public hearing for the presentation of the financial plan, and now it’ll go back to City Council for the second and third reading of the Levy Bly-Law. The third reading would basically enable the City to send that information to the province, and we need to have that budget finalized and approved and sent to the province no later than May 15th.”

 

The second and third readings of the Levy By-Law will take place at tonight’s City Council meeting.

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