The Town of Okotoks Council has approved the 2018 budget. For details, see the information below.
Financial Indicator Graphs show that Okotoks continues to be fiscally responsible
Okotoks continues to be fiscally responsible with lower than median taxes and expenditures, while maintaining high levels of service and quality of life for its residents, according to the 2016 Financial Indicator Graphs prepared by Alberta Municipal Affairs.
The indicator graphs are created from information in each municipality’s annual Financial Information Return. The comparative measures included in the Financial Indicator Graphs are useful in assessing financial health, past performance, benchmarking, and establishing organizational goals. Comparative measures are included for a group of 18 municipalities ranging in population from 14,310 to 99,832 using data collected from 2011 to 2016 inclusive.
Highlights of the Okotoks 2016 Financial Indicator Graphs include:
- Municipal Equalized Tax Rate is lower than the group median for Net, Residential and Non Residential rates for the last 6 years.
- Non-Residential Equalized Tax Rate remains consistently lower than the group median.
- The Non-Residential Assessment as Percentage of Total Equalized Assessment was 5.6% lower than the group median.
- The total debt represented 23% of the legislated debt limit. This is a significant reduction over the years because the Town has not added any new debt.
- Okotoks municipal property taxes per capita are lower than the median for the group.
- Tax revenue represents 37% (8% higher than the group median) of total revenue required to meet the Town’s annual operating and capital budgets. Other sources of revenue include grants, representing 19% (7% higher than the group median) and sales and user charges (utility charges, licenses and permits, facility rentals, and program fees), representing 29% (6% higher than the group median).
- Okotoks total major expenditures per capita in all broad functions (General Government, Protective Services, Transportation, Environment, Recreation, and Total) are consistently lower than the group median.
In summary, the Financial Indicator Graphs show that Okotoks continues to be fiscally responsible with lower than median taxes and expenditures, while maintaining high levels of service and quality of life for its residents.
The 2016 Financial Indicator Graphs are available for review at by clicking below.
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