Monday, March 15, 2010

Queens Place Operating Budget


A first year operating budget for the proposed Queens Place recreation centre show a deficit of almost 255 thousand dollars. Region of Queens Mayor John Leefe says the figures are for the first full year of operation which will be from April 1st, 2012 to March 31st, 2013. He says the numbers are based on the long term experience of the Queens Memorial Arena Association, the Queens Fitness group, and projections based on talks with operators of similar facilities.
Leefe says on the expenditure side the total operating deficit is projected to be 254 thousand 508 dollars, but he says offsets include an increase of one-half percent in the deed transfer tax which will be totally dedicated to defraying the operating cost. Also he says there will be ongoing revenue sources such as the landfill reserves to reduce the deficit to 177 thousand which will be supported by an increase of about two cents on the tax rate.