For Immediate Release / December 21, 2022
Council Approves 2023 Budget
At the December 20, 2022 Council meeting, the City’s Financial Plan and 2023 Budget was approved, following the budget deliberation process. This includes the 2023 municipal and utility operating and capital budgets.
A motion proposed and approved by Council on December 20 to fund St. Albert's 2023 allocation of regional transit costs from the Stabilization Reserve Fund resulted in a lower net municipal tax requirement than the 5.8 per cent recommended during Committee of the Whole. The approved Financial Plan and 2023 Budget includes an average 4.6 per cent tax increase and an average utility rate increase of 3.8 per cent. The budget highlights are as follows:
Municipal Budget – The approved net municipal tax requirement of $124.9 million results in a 4.6 per cent property tax increase. For an average house valued at $450,000, this means an increase of $167 from the prior year. For 2023, the municipal capital investment plan includes:
- 25 municipal capital charters focusing on repairing, maintaining, or replacing existing infrastructure; and,
- 15 capital charters that address growth.
Utility Budget – Utility rates for 2023 were approved to be 3.8 per cent higher than in 2022, with a typical monthly bill of $144.24. For 2023, the utility capital plan investment includes:
- Eight utility capital projects focusing on repairing, maintaining, or replacing existing utility infrastructure; and,
- One capital charter that addresses community growth.
The 2023 budget focuses on maintaining the high standards expected for delivery of programs and services to the community, responding to community growth, and investing in the future to ensure connectivity throughout the city and to further enhance long-term sustainability.
“The City is faced with a very complex fiscal situation, as are many municipalities right now,” says Mayor Cathy Heron. “This has been the most difficult budget in many years. The City is not immune to the rising cost of inflation, increasing cost to borrow, and diminishing support from the province. I want to thank my Council, Administration and the public for their input into this budget and efforts to keep the adjustments as small as possible.”
The actual tax rate will not be finalized until May 2023 after the assessment roll is completed. For more information on the approved financial plan and 2023 budget, visit visit the 2023 Budget page.
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Last edited: December 22, 2022