Budget approvals made

Sharon McLeay  

Times Contributor    

 

Auditors from Young-Parkyn-McNab presented council with Wheatland County’s 2012 financial report, which showed the county in good condition. 

The audited report was approved, pending document signing, with the finalized report submitted to the minister according to municipal regulations.

The 2013 operating budget passed April 5, required an amendment, with a revision to the 2012 amortization of $12,194,500. The Rural Road Reserve (RRR) needed a transfer of $1,173, 121, as the Alberta Government made cuts to the Transportation Resource Road and Bridge Funding which affected the RRR. They also increased education taxes and municipal taxation, so the tax revenues will change somewhat to compensate for resulting shortfalls.

Ratepayers will notice changes on their tax assessment that reflect these changes. Staff tried to equally distribute any burden of taxation increases across all four property classes. There will be an overall increase in net taxes to fund the operating and capital budget expenditures of 5.28 per cent with an additional 3.95 per cent going to the RRR. Generally, residential assessments may be lower, as market values have fallen, resulting in a slight decrease in tax or no significant increase, unless extensive property improvements have occurred. Farmland assessment classes will see an approximate increase of $18 per quarter section. The non-residential class (commercial and industrial) will see tax increases, with revenue from new growth contributing to the RRR. School taxation and taxation for support to seniors programs will also show increases on the statements.

The budget breakdowns were reviewed and discussion ensued on the process for estimating future expenditures. Council asked whether more comparisons and information was needed. Administrative Officer, James Laslo, suggested that the amendment covered issues presented by Council to staff. Any new assessment, comparison or forecasts would require an additional dedication of manpower and man-hours. He agreed that factors surrounding amortization was a huge component of predicting future costs and it should be kept in mind during the budgeting processes. 

“We need to set up a system that sets realistic parameters,” said Laslo. “I would like to recommend to CAO Parkin, the CFO and council to put this amendment into effect, in view of the cuts to the transportation grant and looking forward to the accountability review scheduled to occur within the year.” 

Council voted unanimously to pass three readings of the Bylaw 2013-14, approving the amendment and subsequent tax increases.