As required by the Municipal Act, 2001, the budget of the United Counties of Prescott and Russell is adopted annually by Council. The fiscal year is from January 1 to December 31.
The budget is presented to Council on an accrual basis and a cash basis.
Sources of revenues
The programs and services offered by the United Counties are financed by three levels of government:
- The federal government
- The provincial government
- The local municipalities
The contribution of the local municipalities is delivered to the United Counties through the requisition.
The requisition amount presented to the municipalities is calculated according to the difference between the total amount of inflows and cash disbursements, in order to deliver services to the residents of Prescott and Russell.
The requisition for each municipality is calculated according to the total property assessment, multiplied by the property tax rate.
Property tax rate in the United Counties of Prescott and Russell
The property tax rate for each portion of $100,000 is equal in all of Prescott and Russell’s municipalities, according to property classification. This rate is established by Council upon approval of the budget.
The property tax amount liable to the United Counties is stated on the property tax bill that taxpayers receive from their local municipality.