The Finance/Treasury Department is responsible for the handling of the financial affairs of the Town and ensuring the overall financial well-being of the Town of Smiths Falls. To achieve these goals, the Finance/Treasury Department operates within a variety of policies and procedures which adhere to the requirements of the Federal and Provincial governments and Council of the Town of Smiths Falls.
The Finance/Treasury Department provides the following services:
- Prepares and compiles annual departmental budgets in conjunction with department heads
- Budget monitoring
- Long-term financial planning
- Investment management
- Develops policies to improve overall operation of data management
- Regulatory financial reporting and report preparation for upper levels of government
- Internal financial reporting
- Coordination of all audit functions
- Corporate bank liaison
- Capital financing and debenturing
- Custodian of all financial assets of the Town
- Provides financial information, analysis and guidance to Council, public and departments regarding financial matters
- Property tax billing and collection including tax registrations
- Payroll/HR administration
- Insurance administration
- Utility billing and collection
- General accounts receivable, billing and collection
- General accounts payable
- Supervision of accounting and internal controls for all departments
- Front line reception/revenue collection
The Municipality passes an annual budget that consists of two parts, an operating budget, which includes all the expenditures required to deliver the day-to-day Municipal services and the expected revenue (i.e. user fees, permits, etc.) and a capital budget which includes one-time expenditures for major projects or infrastructure whether new or existing (i.e. roads, sidewalks, bridges, etc.)
Budget discussions typically begin in the early fall with multiple meetings and wrap up in the new year with the approval of a by-law adopting a budget for that calendar year.
Current and previous budget by-laws as well as budget presentations are available here.
The Finance Department is responsible to ensure compliance with a variety of legislated reporting requirements. Some of the required reports include the annual Financial Information Returns, annual Financial Statements, etc. All of these reports which may be of interest to tax payers are available to the public here.
Property taxes are the major source of revenue. The base for property taxation is the assessment roll. It defines classes and types of properties which are subject to taxation. The assessment roll comes from the Municipal Property Assessment Corporation (MPAC). The information included in this roll is then used to determine tax rates and to levy taxes. Your property taxes are calculated by multiplying the assessed value of your property and the combined municipal and education rates. Tax rate are determined and taxes levied after the Town prepares and Council adopts an annual budget of estimated revenues and expenditures.
Tax payments may be made in any of the following ways:
In person at the Town hall, cash, cheque or debt (no credit cards)
Mail a cheque or money order
At any Chartered bank – paid by the due date only
Internet or telephone banking – please allow 3 -5 days for the payment to reach us Post-dated cheques
You may want to sign up for one of our pre-authorized payment plans. The 10-monthly plan begins in November of each year. A schedule of payments is sent before the end of November. Applications must be received by the last week in October.
The due date plan begins in February of each year with payments withdrawn on each of the four due dates.
Penalty or interest is added on the first day of each month on any tax arrears. Penalty or interest is calculated at 1.25% each month (15% annual rate. Pay on time to avoid this late fee.
- Water/sewer billing and collection
- Water/sewer billing inquiries
- Water meter inquiries/service calls
- Final water meter readings on property sale closings
Water bills may be paid in the following ways:
- In person at the Town hall, cash, cheque or debt (no credit cards)
- Mail a cheque or money order
- At any Chartered bank – paid by the due date only
- Internet or telephone banking – please allow 3 -5 days for the payment to reach us Post-dated cheques
- External Drop Box; located outside the main entrance of the Town hall (cheques only; no cash in box please)
Asset Management Plan
As of September 19, 2016, Council approved an Asset Management Plan prepared by Watson & Associates for the long term maintenance of the Town’s capital assets. The plan will assist staff and Council in making future decisions regarding the Town’s infrastructure. It will be reviewed by staff and Council on a yearly basis.
Long Term Financial Sustainability Plan
As of September 19, 2016, Council approved a Long Term Financial Sustainability Plan prepared by Watson & Associates. The plan will provide direction to both Council and staff on expenditures and long term debt levels, reserve allocations and taxation requirements to 2035. The long term financial sustainability plan is required to address the backlog of capital replacement and rehabilitation needs of the Municipality. In the absence of upper level government funding, Council must provide adequate investments in infrastructure to ensure the safety of our residents and protect the sustainability of the Municipality’s capital assets into the future.
Public Sector Salary Disclosure
The Public Sector Salary Disclosure Act, 1996 makes Ontario’s public sector more open and accountable to taxpayers. The Act requires organizations that receive public funding from the Province of Ontario to make public, by March 31st each year, the name, positions, salaries and total taxable benefits of employees paid $100,000 or more in the previous calendar year
Visit http://www.ontario.ca/page/public-sector-salary-disclosure for disclosure relating to the Town of Smiths Falls
The 2021 Budget Guide was compiled as a tool to help inform the public on the budget process. Public consultation for the 2021 budget is available through the Speak Up Smiths Falls website at www.speakupsmithsfalls.com/budget-consultation1.
- 2019 Audited Financial Statements
- 2019 Statement of Remuneration and Expenses
- 2019 Financial Information Return
- 2018 Audited Financial Statements
- 2018 FIR Financial Information Return
- Resolution 2019-05-132 2018 Consolidated Financial Statements
- Bylaw 2019 Strategic Asset Management Policy
- 2019 Water Rates By-law
- 2019 Tax Rate Bylaw
- 2018 Statement of Remuneration and Expenses Report
- Asset Management Plan/Long Term Financial Sustainability Plan
- Asset Management Plan Technical Appendix 1
- Asset Management Plan Technical Appendix 2
- Water and Wastewater Financial Plan
- By-law 8873-2016 Tax Collection Policy
- Vacancy Rebate Program Jan 2018
- Water Pre Authorized Form
- Taxes Pre Authorized Debit Agreement form
- 2019 Tax Rate Bylaw
- Change of Mailing Address_Name Application
- Charitable Rebate Form
Staff may be reached from 8:30 – 4:30 from Monday to Friday to answer finance-related inquiries.
Staff are as follows:
- Director of Corporate Services – Kerry Costello
- Treasurer – Janet Koziel
- Payroll – Brandii Phillips
- HR Administration – Lynda McKimm
- Tax Collector – Vicki Thompson
- Water/Wastewater Billing – Daina Sullivan
- Accounts Payable/Accounts Receivable Clerk – Brianne Harper
- Cash Receipts Clerk/Receptionist – Ellen Leach