2023 Budget Approved

April 21, 2023

For Immediate Release Bancroft ON

The Town of Bancroft is pleased to advise that the 2023 Budget was passed at our Special Meeting of Council. This was an incredibly challenging budget due to both the substantial cost increases (well above the rate of inflation), and the continued need to grow our community through infrastructure improvements.

We are happy to report that after extensive revision we have approved a combined overall increase, including county and education rates, of 5.22%. In contrast to the prior budget, the assumption of the North Hastings Community Center adds 2.146% to our total budget. Without that addition our budget increase would have been 3.701% meaning our budget would actually have been lower than the rate of inflation when comparing directly year-over-year. As we move forward with offering new amenities and exciting opportunities through the acquisition of the North Hastings Community Centre we continue to look to our municipal neighbours for equitable support in this regional asset.

Many of our newly approved budget initiatives follow the principles of our Economic Development Strategic Plan – “Making Our Future”. This guiding document and the subsequent initiatives discussed at the Council table last night only reaffirms our ongoing support for the arts, community health, and the Addiction, Mental Health, and Homelessness crisis which is being felt by many communities across the country.

This budget includes two important items we would like to highlight. The first of which is our donation to the Little Blue Cabins Transitional Housing Project. We would like to thank Kevin Taylor for his dedication and persistence on this project and we look forward to seeing his success and the positive impact on our community.