Title
Parkland County 2016 Interim Operating and Capital Budget
Proposed Motions
1. That Council approves the Parkland County 2016 Interim Budget containing $73,573,100 in revenues (other than taxation); $142,330,200 in expenditures (including amortization and other levies); a municipal tax requirement of $51,214,000; a TransAlta Tri Leisure Centre (TLC) tax requirement of $1,129,300; a Capital Region Board (CRB) tax requirement of $100,000, and;
2. That Council hold a Spring Budget Review session to finalize the 2016 Budget on April 12, 2016, prior to the approval of the Tax Rate Bylaw, and;
3. That Council direct Administration to move the split tax rate from 51% to 50% when the 2016 Tax Rate Bylaw is brought forward for approval on April 26, 2016.
Body
Administration Recommendation(s)
Administration supports the proposed motions.
Purpose
Each calendar year, Council is required to adopt an operating and a capital budget as outlined in sections 242 to 246 of the Municipal Government Act.
Summary
On November 23, 24 and 25, 2015 a proposed 2016 budget was presented to Council. The Municipal Budget - Net Cost by Division (Attachment 1) outlines the proposed budget by division and the 2016 Capital Budget Summary (Attachment 2) outlines the proposed capital budget by department as presented to Council during budget presentations.
Strategic Plan/Policy/Legal/Staff Implications
Strategic Plan Four-Year Commitments outlined in the Departmental Business Plans.
Section 242 and 245 of the Municipal Government Act requires Council to adopt an operating and a capital budget.
Financial Impact:
Cost: $126,016,400 ($142,330,200 less amortization of $14,947,500 less proceeds on sale of tangible capital assets of $1,046,400 and less net loss on sale of tangible capital assets of $319,900 which are non-taxable items).
Source of Funding: $52,443,300 Taxation ($51,214,000 Municipal, $1,129,300 TLC, $100,000 CRB), $6,676,200 User Fees and Sale of Goods & Servi...
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