Cochrane town council received its draft 2023-2025 Budget as an information item on Oct. 24, and voted to set up the public deliberation schedule, which will lead to formal adoption of the budget on Dec. 12.
Councillors received a hard copy of the budget to examine at the end of the meeting, and there was no discussion, as this is just the first step in the deliberation process. Councillors can now begin sending their questions to administration prior to further deliberations.
The draft budget proposes a 7.55 per cent property tax increase, which amounts to an increase of $188.04 per year for the average residential property.
Public engagement will include posting the draft budget under ‘Let’s Talk Cochrane’ on the Town’s website – Cochrane.ca – for public engagement until Nov. 9. Advertising started last week (including on social media) and public engagement sessions were planned for Spray Lake Sawmills Family Sports Centre (SLSFSC) on Oct. 28 from 9 a.m. to 1 p.m. and Oct. 29 from 9 a.m. to 5 p.m. (after press time).
Feedback received from the SLSFSC sessions will be presented to council on Nov. 15.
Council’s deliberations will take place in open-to-the-public meetings at the RancheHouse chambers on Nov. 15, 16, 21, and 24 at 9 a.m., followed by a Committee of the Whole discussion on Dec. 5, a week before the budget will be approved.
One of the guiding principles of the budgetary process cited by Town administrators at the Oct. 24 meeting was inter-generational equity: balancing the needs of today while preserving long-term financial viability.
Coun. Alex Reed said he struggles with another balancing act – weighing public engagement against his responsibility as an elected official.
“I think polls and public engagement are an important piece of the puzzle, but I felt the last budget presentation, where we got some feedback about public engagement, that it kind of swayed council and I admit it swayed me more maybe than it should have,” he said.
“That kind of government speaks to mediocrity at best, or at worst, is a disservice to our community.”
As elected officials, Reed added, councillors should strive to do more in-depth research on behalf of citizens, who may not have enough time to do so themselves.
The capital budget over the next three years includes $77 million in projects and $343 million over the next 10 years. The current focus continues to be placed on transportation- and utility-related infrastructure.
Town administration who presented the draft to council said uncontrollable cost increases of more than $2 million, high inflation, and continued population growth contributed to pressures on the operating budget.
“The increased costs to provide services, as well as to build and maintain asset and infrastructure tools, has placed significant financial pressure on the organization,” the draft budget stated.
To help offset those impacts, a draw from the Tax Stabilization reserve ($500,000) is being taken in 2023, with replenishing contributions beginning in 2025.
The increased operating budget is funded from an increase in user fees, draws from other operating reserves, and property tax increases. A portion of these increased taxes (3.25 per cent) will be paid through continued growth in the community, with the remaining portion (7.55 per cent) paid by increasing property taxes. The increase increase equates to $15.67 per month for the average residential property.
To see the Town’s draft 2023-2025 budget document and to provide feedback, go to letstalkcochrane.ca.
