Elimination of the Ojibwa debt was the main focus when Bayham council endorsed a 2024 draft capital budget of $3.7 million at a special meeting on Oct. 3.
Capital budget refers to spending on assets such as roads, bridges, buildings, fire equipment, public works equipment and other tangible items. It is paid for through a combination of tax levy, grants, debt allocation and from reserve funds.
One of the key aspects of the budget and accompanying 10-year capital plan, which is continued from last year’s, is eliminating the debt from the Ojibwa when the mortgage is due for renewal in 2025. Of the $4.05 million needed, $3.5 million has been allocated. Discussion on funding the remainder will still be coming as the budget process continues with the operating budget in January.
For full details, see the Oct. 11 edition of The Aylmer Express.