Posted on: December 20, 2022 | Return to News
The Town of Conception Bay South today announced its balanced budget of $39.7 million for 2023, achieved through lean administration, slight tax increases, and a strong debt management strategy.
“Council understands that current global economic conditions are making it challenging for many families to make ends meet. Therefore, our priority for Budget 2023 was to minimize passing costs over to residents. We’ve held the line on some initiatives and deferred others in order to maintain our programs and services at the most economical price point,” said Deputy Mayor Andrea Gosse, Chair of the Finance and Administration Committee.
“Our disciplined expenditure reductions over the last several years, combined with inflationary pressures, Covid-19 supply chain issues, and increasing interest rates, left us very few options to cut expenses in this budget without significantly impacting our core services.”
Council stated that its goal was to achieve balance in these tough economic times, and that guided the decision-making on taxes.
“Although this is never an easy thing to do, we were able to keep cost increases as low as possible because of good financial management leading up to this year. I want to assure our residents that if it were not for extraordinary world events, we would be in a much different position,” says Deputy Mayor Gosse.
Highlights of Budget 2023 include:
“We are the second largest community in this province, serving over 27,000 residents and continuing to see growth both commercially and residentially. Budget 2023 is about being financially prudent and ensuring a sustainable future for Conception Bay South, which continues to see growth,” said Deputy Mayor Gosse.
As one of the fastest-growing communities in the province, Conception bay South offers a unique blend of urban and rural living and is a community of choice for families wanting to establish long-term roots. The Town is open for business, offering endless investment opportunities and ocean views.
For further details, please visit www.conceptionbaysouth.ca/budget
The Town of Conception Bay South would like to thank residents and businesses for providing their feedback for Budget 2023 through our online survey and our in-person budget discussion at the Royal Canadian Legion Branch 50. Your input guided Council’s decision-making process.