By rdnewsNOW staff

highlights

Lacombe County adopts 2023 interim budgets

Dec 1, 2022 | 3:56 PM

Interim capital and operating budgets have been adopted by Lacombe County council.

The final versions including tax rates will be approved in spring 2023.

“We recognize that the challenges of inflation are impacting all our residents and businesses,” said Michael Minchin, Director of Corporate Services. “Council voted to approve interim capital and operating budgets for 2023 that recognizes these issues while ensuring the expenses of maintaining and running Lacombe County are addressed.”

Highlights

2023 Interim Operating Budget

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The $51,184,050 interim operating budget is balanced and maintains existing service levels. Highlights of the operating budget include:

• Providing 2022 levels of service indexed for 2023 using an inflation factor of three percent (3%), excluding the labour component.

• A proposed transfer of $48,690 from the Tax Rate Stabilization Reserve.

• Included user fees for paid parking at recreation areas and beaches.

2023 Interim Capital Budget

The 2023 interim capital budget is $20,680,210 which is a decrease of $3.51 million (14.50%) compared to 2022). Of the $20.68 million in capital spending in 2023, $8.73 million (42.22%) is sourced through funds set aside in prior years through the capital replacement plans, compared to $10.47 million in 2022.

• A decrease in road projects of $1.64 million.

• A slight decrease of $50,480 for bridge projects, including replacements and engineering.

• Equipment and vehicle replacements decrease by $2.82 million.

• Recreation projects of $1.09 million.

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