Lacombe passes 2021 Operating Budget, 10-year Capital Plan
Lacombe city council has approved the 2021 Operating Budget, which includes a tax increase of 0.8 per cent.
Due to the COVID-19 pandemic and its effect on City facilities, Administration estimates a $200,000 decline in user fees. The City also is anticipating a decline in new building permits due to slow economic conditions.
Officials say the City of Lacombe will continue to maintain healthy transfers to reserves to fund capital projects in the 10-Year Capital Plan adequately, saying that the majority of transfers remain at 2019 levels, and tax-funded reserve transfers will increase by $32,000.
Debt servicing costs for 2021 are slightly lower in 2021, although the City intends to borrow additional funds to construct a new City Public works facility.