Grey County records $1.8 million budget surplus

Grey County’s budget for 2023 finished in the black.

At its meeting on April 11, county council received a report from staff that detailed that the county finished 2023 with a budget surplus.

Sue Murray, the county’s deputy treasurer, presented the report to council and reviewed the surplus/deficit positions of the various county budget areas.

Overall, the county had a surplus of $1,802,800. The corporate services department had a surplus of $784,300, the planning and community development department had a surplus of $77,000, the human services area had a surplus of $653,000 and the transportation department had a surplus of $288,000.

Murray said the surplus represented 2.35 per cent of the county’s total tax levy and 0.8 per cent of the county’s overall expenses.

Murray’s report included a chart of the reserve funds that will receive transfers from the 2023 surplus.

County council received the report and news of the budget surplus with few comments. Owen Sound’s deputy mayor, Scott Greig, was the only member of council to speak to the report.

Greig asked if the surplus reserve contributions were examined from a strategic perspective.

“You can’t go wrong contributing to the reserves,” said Greig, although he noted that it’s possible to have too much in reserve, which could be seen as “double taxation.”

Murray said county departments look at their reserves through a “10-year lens.”

“It’s not meant to just keep building and building,” said Murray. “We definitely look at that.”

Greig also asked how the 2023 surplus compared to other years. Mary Lou Spicer, director of finance and treasurer said the surplus in 2022 was $1.6 million and in 2021 it was $363,000.