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The Treasury (Finance) Department is responsible for providing financial services to all municipal departments including coordinating the budgeting process and monthly monitoring of revenue and expenditure accounts. It is to ensure that all revenues and expenditures are collected, allocated, and recorded in accordance with all by-laws, regulations and budgets, as established by Council, the Provincial and Federal Governments.
| Asset Management |
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Asset management is a municipality's approach to minimize the lifecycle costs of owning, operating, and maintaining assets at an acceptable level of risk, while continuously delivering established levels of service for the present and future. This Asset Management Plan (AMP) identifies the current practices and strategies that are in place to manage public infrastructure and makes recommendations where they can be further refined. Through the implementation of sound asset management strategies, the Township of Asphodel-Norwood can ensure that public infrastructure is managed to support the sustainable delivery of municipal services. The AMP is a living document that will be updated regularly as additional assets and financial data become available. 2024 Asset Management Plan for the Township of Asphodel-Norwood (PDF 4.11 MB) Asset Management Plan Addendum - Core Assets The below addendum report has been developed to address the July 1, 2022 requirements of O. Reg. 588/17 that were not covered in the Township’s 2016 Asset Management Plan. The objective of the Addendum Report is to bring the Township into compliance with the July 2022 requirements of Ontario Regulation (O. Reg.) 588/17. The Township’s core assets can be broadly grouped into the following asset classes:
Asset Management Plan Addendum - Core Assets (PDF 930 KB) |
| Budget |
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The 2025 Municipal Budget reflects the Township's commitment to addressing evolving community needs while maintaining fiscal responsibility. In the face of significant budgetary pressures, including rising costs for OPP policing, the new Medical Centre, municipal insurance premiums, inflation, and the County Road 40 / Wellington St / Albine St construction project, the Township has strategically balanced these challenges with its asset replacement obligations and long-term planning goals. This budget outlines the financial priorities necessary to continue providing essential services and infrastructure, and is now presented for Council's consideration. If you have questions or feedback about the budget, please contact us. View the Final 2025 Municipal Operating & Capital Budget presentation (5.89 MB) |
| Energy Conservation and Demand Management Plan |
| Municipalities and other public sector groups are required to report annually on energy use and greenhouse gas (GHG) emissions for buildings and facilities in which the agency conducts its operations, that are heated or cooled or are related to the treatment or pumping of water or sewage. The Township of Asphodel-Norwood's Energy Conservation and Demand Management Plan (ECDMP) will assist in managing and reducing energy consumption across Township facilities and operations. |
| Fees and Charges |
| Fees and Charges for the Township of Asphodel-Norwood are passed by Municipal Council in the form of a By-law. The By-law is approved annually or when an update is required. |
| Financial Information Return |
| The Financial Information Return (FIR) is a document that must be filed by every municipality in the province of Ontario annually. This is the annual municipal financial reporting to the Ministry of Municipal Affairs and Housing. Information filed in the municipal FIR is used for grant policy and allocation, setting annual repayment limits (a municipality's borrowing capacity) and much more. |
| Financial Statements |
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The Township of Asphodel-Norwood is audited annually by an independent auditing firm. The firm conducts on-site audits bi-annually prior to preparing the Consolidated Financial Statements for the Township that details the financial position of the Corporation. 2023 Financial Statements (387 KB) |
| Municipal Modernization Funding |
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The Province dedicated 125 million to the Municipal Modernization Program to assist municipalities undertake expenditure and program reviews with the goal to find service delivery efficiencies and lower their costs long term. The Township of Asphodel-Norwood was successful in receiving $60,000.00 to fund a Line by Line Budget Review. The project's scope was a three-year budget review from 2017 to 2019 and did not include the Library or Cemetery. Together, consultants, staff and Council representatives identified areas of opportunities where budget methodologies could be enhanced to help achieve accurate forecasts and provide opportunities for reductions without compromising service deliveries. |
| Taxes |
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For more information regarding property taxes, including rates, please refer to our Tax Department page. |
| Water and Wastewater |
| For more information regarding Water & Wastewater visit the Municipality's Water & Wastewater Department page. |
