Parkland County - File #: RFD 19-065

• File #: RFD 19-065
• Version: 1
• Name: 2019 Final Operational and Capital Budget (Spring Budget)
• Type: Request For Decision
• Status: Carried
• File created: 3/20/2019
• In control: Council
• On agenda: 4/9/2019
• Final action: 4/9/2019
• Title: 2019 Final Operating and Capital Budget (Spring Budget) Proposed Motions 1. That Council approve the 2019 Final Operating Budget which will increase the municipal tax levy by $1,186,350 as compared to the budget approved at the November 27, 2018 Council meeting. 2. That Council approve the 2019 Final Capital Budget which will increase the municipal tax levy by $34,400 as compared to the budget approved at the November 27, 2018 Council meeting. 3. That Council approve the projects spanning more than one year in duration in the amount of $5,513,451.

Date	Ver.	Action By	Action	Result
4/9/2019	1	Council	approved
4/9/2019	1	Council	approved
4/9/2019	1	Council	approved

Title
2019 Final Operating and Capital Budget (Spring Budget)

Proposed Motions
1. That Council approve the 2019 Final Operating Budget which will increase the municipal tax levy by $1,186,350 as compared to the budget approved at the November 27, 2018 Council meeting.

2. That Council approve the 2019 Final Capital Budget which will increase the municipal tax levy by $34,400 as compared to the budget approved at the November 27, 2018 Council meeting.

3. That Council approve the projects spanning more than one year in duration in the amount of $5,513,451.

Body
Administration Recommendation
Administration supports the proposed motions.

Purpose
Each year in the spring, administration reviews the budget passed in November and puts forward to Council a list of recommended changes to the budget. This review also allows administration the opportunity to make any necessary adjustments to ensure that the budget provides the necessary financial resources required to achieve Council's Strategic Plan and the service levels outlined by Council. These changes along with the finalized assessment values establishes the parameters for setting the tax rate bylaw for that year.

Summary
The net effect of the spring budget adjustments is a $1,220,750 impact in the municipal tax levy.

The adjustments made to the budget have been classified into 4 different categories as described below:

1. Operating Budget Program Adjustments - This includes adjustments to programs based on new information. The taxation impact of these adjustments is an increase of $997,950. (see attachment 3)

2. Operating Budget Project Adjustments - This includes adjustments to updated operating projects and project costs. The taxation impact of these adjustments is an increase of $23,800. (see attachment 4)

3. Operating Budget Lifecycle Adjustments - This includes adjustments to non-capital items on the lifecycle plan. The taxation impact of these adjustments is an increase of $164,600. (see attac...