Title
Parkland County 2017 Interim Operating and Capital Budget
Proposed Motions
1. That Council approves the Parkland County 2017 Interim Budget containing $44,546,200 in revenues (other than taxation); $114,912,700 in expenditures (including amortization and other levies); a municipal tax requirement of $54,232,700; 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 2017 Budget on April 11, 2017, prior to the approval of the Tax Rate Bylaw, and;
3. That Council finalize the 2017 Tax Rate Bylaw for approval on April 25, 2017.
4. That Council approve the total cost of $56,600 for a contract for the provision of assessment services relative to industrial/oilfield assessments to commence in the fall of 2017 with expected completion early 2018.
5. That Council approve the total cost of $73,000 for the new public sector accounting standard on Asset Retirement Obligation that will continue and be completed in 2018.
6. That Council approve the total cost of $1,650,000 for the Wabamun New Boat Launch that will continue and be completed in 2019.
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, 243, 245 and 246 of the Municipal Government Act.
Summary
On November 8 and 9, 2016 a proposed 2017 Interim Budget was presented to Council. The Municipal Budget - Net Cost by Division (Attachment 1) outlines the proposed budget by division and the 2017 Capital Budget Summary (Attachment 2) outlines the proposed capital plan by division as presented to Council during budget presentations.
As a result of Council's Strategic Planning session held November 2 and 3, 2016, Council decided to defer the following initiatives: Parks, Recreation and Culture, Phase II - Park Improvement Plan, Planning and Development, Boundary Interface Procedures and Economic Diversification, Feasibility and Business Case for Future Employment Areas. These initiatives have been removed from the respective department budgets and the revised budget documents are shown in Attachments 3-5.
Further refinement of the 2017 Interim Budget included a correction to the Council budget for a Transfer from Restricted Surplus that was over-stated by $17,300 and a reduction in training dollars of $1,000 (Attachment 6).
The presentation of the Net Cost Summary by Program for the Community Sustainability budget was also changed by identifying the services provided by the On-Site Biologist (Attachment 7).
At the request of Council, a Communications Coordinator has been added to the budget to address critical resource needs in communications surrounding strategic planning (Attachment 8).
The net impact of these changes was adjusted by decreasing the Transfer to the Long Term Sustainability Restricted Surplus by $115,600 in the Chief Financial Office budget (Attachment 9) .
Strategic Plan/Policy/Legal/Staff Implications
The Municipal Budget puts into operational practice the strategies established in the Strategic and Business Plans.
Section 242, 243, 245 and 246 of the Municipal Government Act requires Council to adopt an operating and a capital budget.
Financial Impact:
Cost: $100,008,200 ($114,912,700 less amortization of $14,561,300 less proceeds on sale of tangible capital assets of $298,200 and less net loss on sale of assets for $45,000 which are non-taxable items).
Sources of Funding:
$55,462,000 Taxation ($54,232,700 Municipal, $1,129,300 TLC, $100,000 CRB)
$7,585,000 User Fees and Sale of Goods & Services
$18,380,500 Government Transfers
$998,000 Investment Income
$106,300 Gain on Disposal of Tangible Capital Assets
$11,363,700 Restricted Surplus
$1,183,000 Penalties
$1,385,000 Licenses and Permits
$118,500 Other Revenues
$2,119,300 Other Capital Revenues
$1,306,900 Levies and Special Taxes