Completing these projects will allow us to take a pause and reassess future projects based on the plans in front of us, such as the Master Roads Study. A factor we did not expect was the slowdown in our growth rate. Over the past several years, our growth rate has been at 2%, which meant additional revenue that kept the tax increases down. Unfortunately, the growth rate slowed to 1% and directly impacted our revenues. I ex- pect the rate of growth will increase over the next few years. I already see new develop- ments happening in Strathroy. To keep the increase manageable and still ac- complish work that needs to be done, Coun- cil opted to use some of our reserve funds for a few capital projects. Overall, the financial health of Strathroy-Caradoc is strong. We have additional reserves for future major capital proj- ects, and we have room to use debt wisely. The challenge for Council, not unlike every oth- er community in Ontario, is to balance fiscal responsibility with catching up on major infra- structure projects. We are not unique, and I feel we have been responsible with your tax dollars while mindful of the pressures we all face.
Mayor’s Message On February 3, the Council of Strathroy-Cara- doc approved a tax increase of 4.95% for 2025. No one, including myself, likes adding to the burden that residents already feel. As a Coun- cil, we discussed the challenges that everyone is feeling these days: the pressures from the rate of inflation, the cost of everyday expens - es, insurance and increasing mortgage rates are impacting all of us, including the Munici- pality. Our cost of delivering services like parks and recreation, snowplowing, road repairs, and capital improvements is increasing due to those same pressures. The 4.95% represents a percentage to neutral- ize the cost of living (anticipated to be around 2.5%) and provides room for growth and com- pletion of capital projects. Overall, we are in line with neighbouring municipalities and far lower than larger cities, London, for example, that are facing 8% increases. This year, municipal staff will focus on com- pleting major projects that have carried over, like the Central Firehall and Queen Street up- grade in Strathroy. We will also complete some new smaller projects such as tar and chipping some gravel roads, sidewalk repairs, and im- proving lighting at ballparks.
Colin Grantham, Mayor 519.245.1105 x 251 cgrantham@strathroy-caradoc.ca www.strathroy-caradoc.ca
Colin
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