Title
2024 Final Budget
Proposed Motions
1. That Council approve $5,602,700 in Program Budget adjustments, resulting in a $1,300 decrease to the municipal tax levy compared to the budget approved at the November 28, 2023 Council meeting.
2. That Council approve $328,400 in Operating Project adjustments, resulting in no change to the municipal tax levy compared to the budget approved at the November 28, 2023 Council meeting.
3. That Council approve a reduction of $328,400 in Capital Project adjustments, resulting in no change to the municipal tax levy compared to the budget approved at the November 28, 2023 Council meeting.
4. That Council approve the Acheson Intersections project from the Emerging Capital program in the amount of $4,500,000 for 2025, funded by Restricted Surplus, to allow Administration to begin the procurement process ahead of the approval of the 2025 budget.
Body
Administration Recommendation
Administration supports the proposed motions.
Purpose
To approve amendments to the 2024 Approved Budget.
Summary
Each spring, Administration revisits the Approved Budget to allow departments to make critical refinements to the year's financial plan. This includes the incorporation of carry forward projects and various other budget adjustments to ensure appropriate allocation of the resources required to operationalize Council's Strategic Plan.
The majority of the adjustments made to the 2024 budget have been related to carry forwards for projects and program activities that remained in progress and unfinished at year end. Since carry forward projects and programs were approved by Council on February 27th, today's conversation will be centered around those adjustments that fall outside of what Council has already approved.
In past years, finalizing the Approved Budget has been a significant undertaking by Administration. Improved planning processes and the realization of administrative efficiencies have allowed for a more simplified approval route...
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