Cobourg’s 2024 Draft Budget

Town Staff have now presented their draft budget to Council and it was in a different format to previous years. Instead of spreadsheets, each department used the same format highlighting key drivers, savings, large operating increases, special projects and capital requirements. But first, the new director of Finance, Adam Giddings provided a summary highlighting additional staff, main budget drivers, increases by department and the overall increase compared to inflation. Adam presented numbers to show that budget increases over the last 5 years have not kept pace with inflation. He also gave the total expected tax levy increase: 8.06% compared to 6.6% in 2023 – both numbers after accounting for growth. But this is what Town staff are asking for (recommending)… Read complete articleCobourg’s 2024 Draft Budget