MAPLETON - The Township of Mapleton saw a total of $524,599 year-end operating budget surplus for 2021, which represents the budget variance and operating surplus for years one and two of the township’s three-year operating budget.
Mapleton has a three-year operating budget and a 10-year capital budget, which was created as a way of balancing the appropriate funding level for maintaining the township’s services, programs and assets.
In a staff report, the surplus realized in 2021, the second year of the operating budget, was $38,978. The small surplus together with the previous year’s operating surplus of $485,621 has the current fund balance valued at $524,599.
As part of the federal-provincial Safe Restart Agreement, the Township of Mapleton received $182,860 in 2021 to support COVID-19 operating costs and pressures. In 2020, Mapleton received $217,900.
In 2021, $186,870 was transferred from the tax rate stabilization reserve to reduce operating pressures. Council had previously directed that $433,581 from the 2019 operating surplus be placed into a reserve and used to reduce operating pressures in 2021 and 2022.
However, the allocation of the surplus can only occur at the end of year three of the township’s three-year operating budget.
