Rocky View County’s (RVC) Draft 2024 Budget was recently made available to the public, and it includes a three per cent tax rate increase.
The County is asking for feedback, stating “Resident feedback is a valued and necessary part of the budget-making process.”
RVC’s executive director of corporate services, Kent Robinson, stated the budget, which will officially be brought before council on Nov. 15, is focused on balancing the needs of the community and ensuring stable revenue and fiscal sustainability.
The operating budget
Within RVC’s draft operating budget, municipal revenues include an annual base property tax increase of three per cent, which amounts to approximately $2,658,600.
The increased tax rate is not only meant to offset municipal inflation, but also to meet regulatory and compliance requirements, support and improve organizational health and culture, as well as respond to Council’s strategic plan, Robinson writes in his pre-amble to the budget.
Aside from the tax rate increase, the budget also includes live assessment growth of $2 million, which is a product of new construction of assessable structures and land, according to the budget document.
Those revenue increases combined will provide the County with an additional $4,658,600 to deal with growth and inflationary costs.
The expected inflationary costs across departments are outlined in the budget, along with the growth in revenue.
The net increase of revenue and expenses for RVC amount to $3,990,500.
The capital budget
Moving over to the draft capital budget –20 projects are planned in 2024 for the cost of $19.4 million.
Of the $19.4 million in capital projects, $499,000 is tax-supported funding.
External funding sources are prioritized for the capital budget, including the provincial Municipal Sustainability Initiative (MSI), for eligible projects to minimize the impact on tax funding for capital, the budget stated.
In 2024, $2.2 million is coming from federal grants, $11.7 million is coming from provincial grants, while the levy, reserve funds, community funds, and proceeds from the disposal of
tangible capital assets, as well as taxes, will also provide funding.
The 2024 project with the biggest price tag is the capital fleet replacement at the end of its lifecycle for the price of about $2.2 million followed by the Springbank road construction and Township Road 250 land acquisition.
Two major projects also included in 2024 are the initial design, servicing, and development phase of the Langdon Recreation Centre, as well as the facility and site design of the South Springbank Community Facility, projected at $1.1 million each.
In 2025, capital projects are projected to cost $45,135,000, with the big ticket items including the development and servicing of the South Springbank Community Facility, the construction of Township Road 250, and the replacement of the Madden Fire Station.
Budget changes
The 2024 draft budget includes several additions that residents have not seen before, including a three-year operating plan and five-year capital plan, which aims to provide transparency for long-term goals and future projects.
In a 2015 amendment to the Municipal Government Act (MGA), the province made it mandatory for every municipality in Alberta to prepare a written three-year financial plan and a five-year capital plan.
Another change in the 2024 budget is the addition of new department cost profiles, which provides a detailed breakdown of expenses categorized by specific services and sub-services.
The third addition to the draft is enhanced reporting on utility services. This will show in-depth reports of utility costs divided by individual systems within the County.
Feedback
Comments about the budget can be shared directly to RVC council at an upcoming Special Council Meeting on Nov. 15 at 9 a.m. in council chambers.
The following Nov. 22 Special Council Meeting will be for council’s consideration and adoption of the 2024 operating and capital budget.
Written submissions can also be shared before 4:30 p.m., Nov. 7, by email to [email protected] or by mail, attention Legislative Services.
Pre-recorded video or audio presentations for the Nov. 15 meeting can be shared on the RVC website and are limited to five minutes for individuals and 10 minutes for groups.
Residents had until Aug. 21 to fill out a survey, give direct feedback, and have discussions through a community forum on the 2024 budget. Feedback from that survey was taken into consideration when forming the current draft budget, according to RVC staff.
To review the draft budget, go to News on the Rocky View County website.
