BONNYVILLE - Town of Bonnyville council has approved its 2024 capital and operating budgets.
CAO Bill Rogers introduced the budget on April 23 during the Town’s regular council meeting.
“These last two years have seen improvements in our local economy and the future of Bonnyville looks very bright,” said Rogers. “Budget 2024 will continue our longstanding practice of providing high quality services to residents as efficiently as possible.”
The budget reflects council’s strategic priorities.
“Residents expect a lot, and we deliver,” says Rogers. He noted that council continues to place a high priority on economic development and tourism.
Speaking to financial stability, “ID 349 revenue sharing by the province with our regional partners and sound annual financial planning by council and staff continue to form the background of our financial stability.”
The budget will see the continuation of essential services to residents, says Rogers, along with keeping a focus on growth.
“Continuing a planning process that started in 2021, administration continues to recommend an operating budget plan with council each year that anticipates annual modest increases in municipal taxes in order to maintain our level in service, and also avoid huge spikes in costs to our residents,” says Rogers.
The total final, balanced, operating budget is set at just under $31.5 million.
“The 2024 proposed final operating budget is a balanced budget based on changes from the interim budget, as well as recommendations from the April 16, Governance and Priorities Committee Meeting. The transfer from the operating reserve required to balance the interim operating budget was $444,037 this has now increased to $666,591 in this final draft of the budget,” reads information presented to council.
The interim budget included a two per cent tax increase with a total municipal tax revenue estimated at $8.4 million. The two per cent recommendation stands for the final budget, although the total anticipated municipal tax revenue in the 2024 final operating budget is slightly higher.
This increase is due to a slight increase in assessment growth due to new development in some assessment classes, according to information presented to council.
The School Tax Requisition has decreased by $9,385. This results in an increase in actual school tax for Residential of 4.14 per cent and a decrease in actual school tax for Non-Residential properties of 5.01 per cent.
The 2024 Operating Budget proposes an overall average two per cent municipal tax increase, a net school tax increase for residential properties and a net decrease in school tax for non-residential properties, heard council. There is also a small decrease in the Seniors Requisition.
The effective overall impact will mean a residential property tax increase of 2.59 per cent, and a non-residential property tax decrease of about 0.74 per cent.
A list of changes that have been made to the budget since the interim budget was passed in December was also presented to council.
Some of the highlights include an increase in “Receptions and Public Relations” to include events approved so far this year, and an increase in “Association Fees & Subscriptions” to include the NAAGO (Northeast Alberta Alliance for Growth and Opportunities) membership.
An increase in revenue and expenses was also adjusted to complete an Emergency Management Plan. Under “Water Distribution,” there was an increase of revenue and expense to complete the Jessie Lake Lowering Project.
Under “Economic development,” there was an increase of revenue and expense to carry forward the unspent Beautification Grant funds, and an increase in revenue and expense to complete the Retail Gap Analysis.
Under programs, there was an increase in expense to transfer Winter Games funding from 2026 to 2024. In February it was announced that the Town and MD of Bonnyville, City of Cold Lake, and Village of Glendon will host the 2026 Alberta Winter Games.
Following the presentation of the budget by administration, it was noted that staff will be reviewing all departments to ensure maximum cost savings are realized throughout the year.
The capital budget was revised to reflect actual tender amounts received for some projects, which resulted in an increase of about $444,000 for core infrastructure projects. The budget remains balanced.
Total revenue for the capital project is pegged at $ 21.9 million, which includes grant funding transfers from reserves and debenture funding.
Council approved motions to approve both the operating and capital budgets for 2024.
