Although residents will have to wait until after the provincial budget releases to learn whether or not their property taxes are affected, Lac La Biche County is anticipating a $2.5 million operating/capital surplus in the 2018 financial year.
Lac La Biche County councillors approved the 2018 operating and capital budgets during their March 12 meeting at McArthur Place.
"What we have is a responsible, flexible plan to serve our residents’ needs. Our economy still presents challenges, but I’m pleased to say we’re in a strong financial position and we have a range of options to help us meet our goals,” said mayor Omer Moghrabi, in a release from Lac La Biche County.
"We continue to operate within our means, and we’re succeeding at reducing our infrastructure deficit. We’re preparing to face the challenges of the future and we can proceed with confidence, knowing our fiscal house is in order.”
Council passed a total of seven motions during the March 12 meeting, including two motions approving the operating and capital budgets of 2018.
The remaining five concerned areas of the two budgets where members of council were deemed to have a potential conflict of interest, requiring them to leave council chambers and withdraw from the vote.
According to the motions passed by council, the 2018 operating budget includes total revenues of $79.928 million and expenditures of $56.98 million.
Meanwhile, the capital budget includes revenue of $7.064 million and spending/transfers of $31,27,752.
The operating and capital expenses that had to be approved via separate motions included $384,718 for salaries, wages and benefits of the county’s agricultural services; $328,038 for maintenance of the Portage Pool; a community development grant of $59,900 for the Lakeland Out of the Elements Shelter Society; a $25,000 grant for the Plamondon District and Community Development Society for lawn equipment; and $111,000 for boats, lawnmowers and ATVs.
Dan Small, senior manager of finance and grants, indicated the county is expecting a total surplus of $2.5 million after all operating and capital revenue and expenditures are accounted for.
"It’s a total of the operating and capital (budgets),” said Small.
According to the county’s release, a full overview of the budget will soon be posted to their website.
In the meantime, the release from the county highlighted a few notable items from the budget, such as the county’s plan to replace water and sewer lines in Lakeview Crescent and pave the access road to Mystic Beach.
While Mystic Beach is a private subdivision, the county retained funds to pave the access road as part of a development agreement signed between the county and the developer. The county will also pave a road between the subdivision and Highway 881 as part of this project.
A total of $5.7 million has also been allocated towards reserves to account for future planning.
It should be stressed that this budget is based on the 2017 tax rates and forecasted assessment growth, as Small will bring a 2018 Tax Rate Bylaw to council at a future date.
Small said he will return once the 2018 Provincial Budget is released on Thursday, March 22, as the county will know more at that time about the 2018 requisitions from Alberta Education, Lakeland Catholic Schools and the Greater North Foundation.
For the purpose of this budget, however, administration looked at the 2017 mill rates and applied them to the estimated total assessment provided by the county’s assessors. That allowed them to project the tax revenue that will be available.
Small noted that the county has been meeting over the past two months to develop the budget.
He said the past two months have been productive in the sense that administration has learned more about what council wants in terms of certain operating and capital expenditures.
"On the other hand, council has probably … learned a little more about our general business that we undertake,” he said.
Small stressed that the budget is a "living document” and there will no doubt be changes required to the document as time goes on.
"This is a snapshot in time,” he said.
