Council Approves 2025 Operating and Capital Budgets

The Municipality is proud to announce the approval of Budget 2025, designed to balance fiscal responsibility with strategic investments in our community’s future. Recognizing current financial pressures, Council worked diligently to ensure that service levels remain consistent, community needs are met, and costs are managed prudently.

 

 

Motions Passed:

• Approval of the 2025 Operating Budget, alongside 2026 and 2027 Operating Budget Projections as presented.
• Approval of the amended 2025 Capital Budget.
• Approval of the 2026 Capital Budget.

Key Highlights:

• Essential Services Preserved: No reduction in the high-quality municipal services residents depend on.
• Community Investment: $1,049,000 directed to empower local community groups.
• New Opportunities: $1,253,300 million allocated to 27 forward-looking initiatives designed to enhance quality of life.
• Infrastructure Growth: $2,464,000 committed to critical infrastructure and capital projects.
• Responsible Tax Adjustments: A modest 1.2% millrate increase and 2.6% rise in utility rates to ensure financial stability.

Tax Rate Increase Impact on Households:
To minimize the burden on residents, Council approved these modest adjustments:

• $350,000 home: $2.50/month or $30.02/year
• $500,000 small business property: $6.80/month or $81.64/year

Utility Bill (Water, Sewer, Garbage and Recycling) Impacts:

• Average household: $2.75/month or $33.03/year

These figures are based on current estimates and assume your property value stays the same. However, property assessments, which determine the value of your home, will be completed in late winter 2025 (January-February). These assessments may impact the final tax amounts, which will be confirmed during the Tax Rate bylaw process in March or April.

Challenges Addressed:
The budget process accounted for several financial pressures, including:

• Inflation: Alberta’s CPI averaged 3.0%, driving up costs.
• Increased Debt Servicing: Principal payments up by $183,000; interest costs increased by $186,000.
• Reduced Provincial Grants: Over a 50% cut in Municipal Sustainability Initiatives (MSI)/ Local Government Fiscal Framework (LGFF) grant funding added strain.
• Community Priorities: Additional $100,000 directed to vital community groups.
• RCMP Funding: Increased by $26,000 due to provincial requirements.

A Commitment to Fiscal Responsibility and Long-Term Vision:
Despite these challenges, Council has kept rate increases modest, reflecting a commitment to protecting taxpayers while ensuring investments in community infrastructure and programs remain strong. These measures position our community for future success and resiliency.

Please note: The entire contents of the 2025 Public Budget document will be available and posted on the municipal website as soon as it is completed.