Approved budget focuses on quality of place
The 2019 budget, approved at the December 10 Council meeting, focuses on investing in quality of place to create inclusivity and diversity in the town.
“The budget represents multiple-year planning and efficiencies that will advance Council’s strategic vision while maintaining service levels and enhancing our citizens’ quality of place,” said Mayor Bill Robertson. “This budget is part of a solid foundation to support citizens and families in a recovering economy and to provide certainty to business and industry to create prosperity and jobs.”
Local transit, supporting affordable housing and upgrading the wastewater treatment plant are significant projects for 2019 that reflect priorities identified through community input from many public participation activities.
“Council voted for a 2 percent tax increase. The original recommendation was for administration to budget for a 3 per cent tax increase and they were able to propose a 2.5 per cent tax increase to the Finance and Audit Committee,” said Ed Sands, chair of the Finance and Audit Committee. “Council actually reduced that even further to 2 percent, which is a 33 per cent reduction from the original recommendation."
- The approved budget includes $58.9 million for operations and $28.6 million for capital expenditures, including $20.8 for 2019 capital projects and $7.8 in multi-year projects.
- The budget will raise an additional $2.2 million in revenue to support services and sustainability while also preparing Okotoks for future growth.
- For the average residential homeowner with an assessed value of $450,000 the overall effect is projected to be $45 per year or $3.75 per month.
This short video illustrates how the Town develops the municipal budget each year: