Olds mayor Mike Muzychka is pleased with the Municipal Sustainability Initiative (MSI) and gas tax funds the town has received from the provincial and federal governments respectively.
A letter from the province regarding MSI funding was received a couple of weeks ago.
Olds will be receiving $784,653 in MSI capital funding, $75,446 to cover MSI operating expenses, and a basic municipal transportation grant totalling $487,588.
The province is holding back 10 per cent of MSI funding, pending this fall's provincial budget, expected to come down in late October.
The town has also been told it will be receiving $1,037,797 in gas tax funds — double what town officials were expecting, Muzychka says.
In its 2019 budget, the town had planned on using those revenues to fund the following projects: an equipment loader, new and refurbished trails, street improvements, water distribution upgrades, storm water infrastructure replacement, upgrades to playgrounds and campground washrooms, a new chiller at the Sportsplex, as well as technology upgrades to computers and the town's server to make the system secure and reliable.
The Albertan asked Muzychka what he thought of the amount of funding the Town of Olds received.
"Actually to be brutally honest with you, a 10 per cent holdback and then waiting to see what happens in the budget in the fall, I wouldn't have been shocked if it was closer to 25 per cent," he said.
"So no, I'm pretty happy with what we've got, and even if the extra $120,000 doesn't come through, we've been kind of lining up and expecting that the belt's going to get tightened, so we're preparing for that," Muzychka added.
"And then to offset it, the gas tax (revenue) being doubled this year was fantastic news as well, so no, we're in a good position sitting for the town to end up this year."
