DIDSBURY - Town council has reviewed a multi-year financial operations plan for the municipality which calls for total expenditures of $35.6 million over three years.
Councillors accepted the 2022-2024 plan as information by way of motion at the recent regularly scheduled council meeting.
Under the Municipal Government Act each municipality must prepare a written plan respecting its anticipated financial operations over a period of at least the next three financial years which is to be reviewed and updated annually, chief administrative officer Ethan Gorner said in a briefing note to council.
“Administration took into account one-time items that are planned for each of the three years, legislation changes, as well as inflationary increases, when relevant, to set the plan,” said Gorner.
“A long-term financial plan creates a purposeful approach to long term financial management and helps to align short term actions with long term financial strategies.”
The goal of preparing the plan is to ensure the municipality is in a sound financial position to finance services to the public on a sustainable basis, he said.
During the May 19 council meeting, Coun. Bill Windsor said, “The only thing I was going to mention is that the numbers that are presented for this multi-year plan for 2022 represents a 6.2 per cent increase in revenue from tax.
“However, knowing that the next council will have the opportunity to do their own budget it may not be (put) through, but that’s what it sits at right now as presented.”
Mayor Rhonda Hunter said, “I’m very optimistic and excited about all the development and construction and things that are going on in town. We are always after a bigger tax base and more so after the businesses and movement of residents into our community.
“So that optimism tells me that whatever council deals with that we'll have a really nice picture to look at with development and tax base increases.”
The plan calls for total operating revenue of $6.7 million in 2022, $6.7 million in 2023, and $6.8 million in 2024.
It calls for total operating expenditures in 2022 or $11.7 million, $11.8 million in 2023, and $11.9 million in 2024.
Tax support would be $5,021,412 in 2022, $5,089,802 in 2023, and $5,144,741 in 2024.
Expenditures in 2022 would include $1.7 million for protective services, $2.3 million for recreational services, $502,614 for community services, and $348,656 for culture, including $306,215 for the library, and $2.9 million for utilities.
The annual budget process remains in place, which requires council approval each year, said Gorner.
