Published on November 3, 2021
Proposed 2022 Financial Plan & Budget Presented to Council
On November 2, 2021, Chief Administrative Officer Kevin Scoble presented the Proposed 2022 Financial Plan and Budget to St. Albert City Council for consideration.
The 2022 Budget includes:
- Municipal Operating Budget
- Municipal Capital Budget
- Utility Operating Budget
- Utility Capital Budget
The City is committed to being fiscally responsible and achieving financial sustainability. This is difficult when the City is experiencing decreased revenues and increased expenses as a result of numerous external factors (i.e., slower than anticipated COVID-19 revenue recovery, reduction in capital grant funding, inflationary costs, etc.). As a result of this, the City is facing higher than historical tax increases. An initial tax requirement of 7.5 per cent would be needed to maintain current City services and service levels.
Understanding that 7.5 per cent is not a palatable tax increase for residents, the City continued its commitment to fiscal responsibility by taking a critical look at spending and identifying opportunities to realize further cost savings in our operating budget, including costs associated with delivery of services. To achieve financial sustainability, the budget focuses on corporate budget adjustments, deferring operating business cases and proposing reductions in service levels to re-prioritize resources. This allows the City to continue to deliver those programs and services most valued by residents and businesses while minimizing tax increases.
Through continued work by Administration to incorporate cost efficiencies, corporate adjustments and service level adjustments the City was able to reduce the initial tax requirement of 7.5 to 2.5 per cent. For 2022, Administration is proposing an operating budget of $117.1 million, which yields an overall average municipal property tax increase of 2.5 per cent. The 2.5 per cent includes our 1.5 per cent commitment to repairing, maintaining and/or replacing (RMR) funding, meaning that the general tax increase is 1 per cent.
For full information on the budget, use the links below and see the Proposed 2022 Financial Plan and Budget. The City is using the “Cultivate the Conversation” platform to provide opportunities for input and engagement. From November 2 to 23, 2021, participate at conversation.stalbert.ca/budget-2022.
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Last edited: November 26, 2021