(City of Lacombe)

By rdnewsNOW staff

Over $2,600

City of Lacombe adds 2024 surplus into reserves

May 2, 2025 | 10:24 AM

The City of Lacombe has reported a surplus from the end of 2024.

The city released its year-end financials this week, which reported a modest year-end surplus of $2,659 on a nearly $50 million budget.

Officials say this reflects council’s efforts in the community’s longterm financial sustainability and fiscal responsibility.

As a result, council directed the surplus into reserves and in 2024, contributed an additional $1.7 million into reserves, despite what was budgeted.

“Council’s commitment to funding our reserves reflects a proactive approach to managing taxpayer dollars,” said Mayor Grant Creasey, in a media release. “Building up reserves helps us buffer against uncertainty, minimize debt, and maintain stable tax rates for residents.”

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Officials say these additional contributions were made possible through other higher than expected revenue streams and expense management.

“Policies like this, along with council’s commitment to keep taxes at or below the rate of inflation, are key reasons Lacombe remains financially resilient,” said Matthew Goudy, Chief Administrative Officer. “We’re preparing not just for today, but for the future.”

For more information on the City’s 2024 Audited Financial Statements, visit the April 28 Regular Meeting of Council Agenda, available on lacombe.ca.