Title
Parkland County 2025 Operating and Capital Budget
Proposed Motions
1. That Council approve the 2025 Operating Program Budget containing $26,706,500 in revenues; $102,263,500 in expenditures; a municipal tax requirement of $75,557,000. These amounts exclude Meridian Housing Spruce Grove Lodge.
2. That Council approve the 2025 Operating Project Budget containing $4,173,600 in revenues; $5,109,000 in expenditures; a municipal tax requirement of $935,400.
3. That Council approve the 2025 Capital Budget containing $64,930,100 in revenues; $66,951,300 in expenditures; a municipal tax requirement of $2,021,200.
4. That Council approve the projects spanning more than one year in duration as per the attached 2025 Multi-Year Project Summary.
5. That Council approve the 2025 Statement of Operations.
6. That Council approve projects not completed in 2024 year be added to the 2025 budget after the accounting close for the fiscal year.
7. That Council direct administration to present the 2025 Tax Rate Bylaw in April 2025.
Body
Administration Recommendation
Administration supports the proposed motions.
Purpose
Each calendar year, Council approves an operating budget to provide the required resources to deliver its desired programs and services to the community. Council also approves a capital budget annually to provide the required resources to maintain the existing infrastructure and to support capital initiatives. These budgets align with Council's priorities and goals.
Summary
On November 18th and 19th, the proposed 2025 Budget was presented to Council. This proposed budget was amended for the following Council requests:
1. Increase projected license and permit revenue in Planning & Development - $100,000
2. Decrease Fleet Lifecycle Transfer - $47,700
3. Decrease Recreation Transfer - $47,600
4. Utilize $125,000 of County Facilities Restricted Surplus to fund the Agriculture & Environment Services Chemical Storage Building
Attachment 1 is the Municipal Budget by Type Report which includes the proposed 2025 Operating Program, Operating Projects and Capital Budget.
Attachment 2 is the 2025 Capital Budget by Infrastructure Class.
Attachment 3 is the listing of department project totals spanning more than one year in duration.
Attachment 4 is the Statement of Operations which is prepared in accordance with Public Sector Accounting Standards.
Approval of the Municipal Budget will result in a residential municipal tax rate increase of 2.5%. The impact to a residential property assessed at $500,000 is approximately $4.71/month. The actual impact differs for each property based on the combined effects of changes to assessment, inflation, growth, and split tax ratio. The tax impact above does not include the Education and Seniors Foundation property tax requisitions, which will be available in Q1 of 2025.
Strategic Plan/Policy/Legal/Staff Implications:
The Municipal Budget puts into operational practice the strategies established in the Strategic and Business Plans.
Each calendar year, Council is required to adopt an operating and a capital budget as outlined in sections 242, 243, 245 and 246 of the Municipal Government Act.
Financial Impact:
Capital and Operating budget tax levy is set at $78,513,600.