Red Deer city council supports move to multi-year budgeting

• Share on Facebook
• Share on Bluesky
• Share on X
• Copy Link

According to the city, they would begin with a three-year operating budget for 2028-2030 and a four-year capital budget for 2028-2031.

Begins in 2028

Red Deer city council supports move to multi-year budgeting

1h ago

second and third readings still needed

Red Deer city council gives initial approval to four borrowing bylaws for 2027 capital projects

2h ago

Alberta Minister

Innisfail-Sylvan Lake MLA Devin Dreeshen weighs in on referendum vote on separation

6h ago

“We are ready to return to a multi-year budgeting process,” said City Manager Tara Lodewyk. “Looking at several years as part of the multi-year budget process will help administration and City Council better plan and understand the long-term impact of budget decisions on services and infrastructure. Also, citizens will have the ability to get some certainty as to what to expect over the next three years.”

However, the approach would not begin until 2028.

The 2027 operating budget will proceed under the current annual process with deliberations set to begin on Monday, Nov. 23.

This change would allow council to approve a budget for each year in the multi-year period, with annual reviews to update forecasts and consider adjustments.

Future budgets could also be changed to attend to economic conditions, community needs, funding, legislation and council priorities.

“Planning further ahead helps us identify financial pressures earlier and better connect infrastructure investments with the ongoing cost of operating and maintaining them,” said Sam Mugford, Chief Financial Officer. “Annual reviews will allow us to respond as circumstances change.”

The city added that property tax rates would still be set annually, as each year’s operating budget would need to remain balanced. Quarterly and annual financial reporting would continue.

City administration is set to return with a detailed implementation plan before preparations for the 2028 budget begin.

The plan will outline:

• Budget schedules, annual reviews and procedures for changing budgets and capital projects.
• Public information and participation opportunities.
• Reporting to Council and Audit Committee.
• Required policy, system and resource changes.

The city added that no additional funding was approved today and that any needed for implementation would come forward through the appropriate budget process.