Title
2013 Spring Budget Adjustments
Proposed Motion(s)
That Council approve the 2013 Spring Budget Adjustments, as per the listing in Attachment 1, which will have no impact on the 2013 municipal tax levy requisition but will increase the Capital Region Board tax requisition by $100,000 as compared to the budget approved in the December 2012 budget meeting and;
That Council directs Administration to prepare a 2013 tax rate bylaw based on the new budget as changed by the spring budget adjustments of the April 23, 2013 Council meeting.
Body
Administration Recommendation(s)
Administration supports the proposed motions put forward to council.
Purpose
Each year in the spring, administration reviews the budget passed in December and puts forward to Council a list of recommended changes to the budget, which then establishes the parameters for setting the tax rate bylaw for that year. In December, the budget is set based on an estimated assessment value. The actual final assessment values are not known until the middle of March. The timing of this process necessitates a spring budget review. This also allows us the opportunity to make any other necessary adjustments we are aware of to ensure that we have as complete a budget as possible. Administration works to limit the number and amount of changes to be made so the spring budget adjustments do not materially change the overall intent of the December budget approval.
Summary
The net effect of the spring budget adjustments is a zero impact on the municipal tax levy and a $100,000 increase to the Capital Region Board tax requisition (see Attachment 1). The increase of $100,000 for the Capital Region Board is for legal and professional expenses associated with the Acheson Area Structure Plan. As per Council's direction at the Council Strategic Planning session a new Economic Development Officer has been added. As well administration is asking reconsideration of a proposal for an increase of .52 FTE at the Parkland County Transfer Station. The impact of this budget (excluding the change in school taxes) will be 1.53% or $42.11 per year for a residential property with a market value of $459,180 and 4.32% or $1,584.70 per year for a non-residential property with a market value of $3,930,720 (see Attachment 3).
Due to the 2013 provincial budget announcements, a number of projects have been reduced which has resulted in an overall decrease to the budget requirement. These items have been highlighted in blue on Attachment 1.
New for 2013 is the Seniors Property Tax Deferral Program, which allows eligible senior homeowners to defer all or part of their property taxes through a low-interest home equity loan with the Alberta Government. The province is willing to provide those that qualify a low-interest loan that is secured against their home equity and they would have to re-pay the loan with interest when they sell their home, are no longer eligible for the loan, or at any other time they chose. Seniors would apply to the Seniors Property Tax Deferral program (Ministry of Health). Application forms will be available shortly by the province. The province will submit these property taxes directly to municipalities on behalf of the senior.
Strategic Plan/Policy/Legal/Staff Implications
Governance Goal 1: Parkland County will be recognized as a well-led, well managed municipality with a solid foundation of sound policies, good planning, responsive processes and effective decision making that are focused on the responsible use of the resources entrusted to it and the long-term best interests of the community as a whole.
Section 242, 243, 245 and 246 of the Municipal Government Act requires Council to adopt an operating and capital budget.
Financial Impact:
Cost: $100,000
Source of Funding: Increase to Capital Region Board Requisition