The town of Trenton finished the 2013/14 fiscal year with an operating surplus of about $3,000 and a consolidated surplus of $609,709 despite facing challenges including snow removal costs that were $33,000 above budget.
The town was over budget on expenditures by about $450,000 but took in about $900,000 more in revenue than they expected which resulted in positive outcome.
The town will hold its residential tax rate for the 2014/15 fiscal year at $1.99 for residential and $5.49 commercial. Trenton does not have any separate levies for sewer and solid waste collection services.
They’ll also be increasing the average wage in town by 2 per cent.
The town plans to do $1.4 million worth of capital projects including replacing the roof on the town hall as well as replacing retaining walls and other public works structures.
They also need to continue storm sewer separation that was started last year and will continue onto Oak and Chestnut streets as well as Strickland and Twelfth Street.
The town will also replace all the street lights in town with energy efficient LED lights.
In order to prevent cost overruns on snow removal in the future, the town is setting up a snow removal reserve.
Mayor Glen MacKinnon said council is very pleased with the results for the year.
Council is pleased to be able to continue to reinvest in our town.