Turner Valley… At the Regular Meeting of Council held Monday, December 19, 2016, Council approved the 2017 Operating and Capital budgets.
Mayor Kelly Tuck advised, “Council and administration worked extremely hard to ensure expenses were kept to a minimum, without jeopardizing the level of service our residents expect and deserve. We are very cognizant and respectful of the current economic climate and kept this in mind as we made our decisions.”
The total operating budget amounts to $5,910,275 representing a 1% increase over 2016. However, Council balanced the budget by drawing $64,326 from the Tax Stabilization Reserve.This includes allowing for the impact of the carbon tax in 2017.
An increase in the garbage rate was applied at $3.50/month. This represents full cost recovery of the service. While utility customers will notice the new rate, the amount will be rebated throughout the 2017 billing period. The rebate is being funded from the Utility StabilizationReserve. No increase will apply to the water and sewer rate in 2017.
Due to the application of the Tax Stabilization Reserve, the 1% year-over-year budget increase was balanced, therefore the budget itself will not have an impact on the 2017 property taxes. Council sets the property tax bylaw in the spring of 2017, at which time other factors such as the school and seniors requisitions will be known, as well as, the final property assessments, all of which have an impact on property taxes.
The 2017 Capital Budget is $8,614,139 and will only include critical and priority projects and ongoing flood remediation work. Approximately 79% of the funds will be drawn from the various flood recovery programs and the balance will be accessed through municipal grants, capital reserves and levies. These include:
- Direct Water Intake Project Disaster Recovery Program
- North & South Erosion Berm
- Westend Forcemain Relocation
- Traffic Signage and Crosswalk Signals
- Windsor Ave. Sewer Replacement Phase 2
- Fire Department Equipment Upgrades
- Expansion of the Downtown Storefront Enhancement Program