Council got a first glimpse at the preliminary three-year rolling budget that will be debated next month. While council still needs to debate, there could still be significant changes in the coming weeks. A first look anticipates tax increases for 2019, 2020 and 2021 – $5 to $6 per month on the average tax bill each year – based on a prediction of four per cent growth each year. The anticipated tax increase of 3.11 per cent for next year includes highlights such as hires for 7.5 full-time equivalent employees, one RCMP member, a boost to snow removal operations, the assumption of transit coming online by mid-2019 and an additional two per cent increase in contribution to the infrastructure gap reserve. “The key to this proposed budget is that in 2018 the property tax increase was 3.06 per cent ... this included a one per cent transfer ($238,500) to the Infrastructure Gap Reserve so council could start addressing the infrastructure gap for investments in capital assets. There was no property tax funding for transit,” explained town CAO Dave Devana. “In 2019, the property tax increase is proposed at 3.11 per cent or $.5.88/month for the average home, and this includes an additional two per cent transfer ($514,000 plus one per cent for 2018) to the Infrastructure Gap Reserve and funding for the proposed transit service to commence in July or August 2019.” By adding two per cent additional funds to the infrastructure gap reserve each year for the next three years, this translates to $18 million to $25 million additional funds for capital infrastructure. Capital plan highlights include the grant and off-site levy-funded Bow River Bridge in 2019-2020, Horse Creek Pedestrian Crossing in 2018/2019, Transit infrastructure (also GreenTRIP dollars) in 2019/2020, RCMP station in 2020/2021 (also taxpayer funded), Centre Avenue widening in 2021, Centre Ave/1A intersection improvements in 2022, grade-separated crossing at Centre Avenue in 2026/2027, tax-funded ongoing fleet replacements, ongoing water/wastewater upgrades (also utility debt funded) and a potential arts/cultural/innovation/library centre in 2025 (partially funded by the Community Revitalization Levy). The funding strategy for transit includes operating reserves funds in 2020. The Request for Proposals for a transit provider closes Oct. 29 and council is anticipated to vote on whether or not to proceed with some form of an on-demand transit service in time for budget deliberations. For Mayor Jeff Genung, the pending budget deliberations are off to a great start. Genung applauded Devana for the launch of the three-year budget, which was implemented a year earlier than mandated by the Municipal Government Act. Up until this year, town budgets were done on a year-by-year basis with the 10-year financial capital plan serving as a long-term guide. The draft budget will be presented to council at the Oct. 22 session. Public budget engagement sessions will take place on Nov. 5, with an outreach campaign running Oct. 17 to Nov. 9. Council will deliberate the budget Nov. 15 and 16 (and 19th if necessary) with adoption slated for Dec. 10.
