2016 Operating and Capital Budgets

The 2016 budget consists of the operating and capital budgets in keeping with the mandate of section 242 of the MGA. The annual budget is balanced to conform to this mandate that municipal authorities operate on a balanced-budget basis.

The operating budget for 2016 is a total of $25.85 million, a decrease of $1.57 million or 5.74% from the 2015 budget of $27.43 million. The operating budget is funded predominantly from

  1. Taxation - $21.43 million or 82.88%
  2. Sales of municipal goods and services of $1.55 million or 5.99%
  3. Transfers from reserves of $1.47 million or 5.67%
  4. Investment earnings - $0.82 million or 3.17%
  5. Operating grants - $0.59 million or 2.28%

The capital budget of $11.74 million represents a decrease of $1.08 million or 8.42% decrease from the 2015 Capital budget of $12.82 million. This is not due to less projects being completed but rather a more competitive tender process due to the current economic state.

Funding for capital projects is derived from the following;

  1. Funding from operations - $3.89 million or 33.15%
  2. Debentures issued - $2.94 million or 25.04%
  3. Funding from Capital Reserves - $2.66 million or 22.66%
  4. Federal and Provincial Grants - $2.25 million or 19.16%

The combined total for operating and capital budgets is $37.60 million, a decrease of $2.65 million or 6.58% from the 2015 combined budget total of $40.25 million.

For a copy of the 2016 Annual Budget CLICK HERE

 

 

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