No new borrowing predicted for 2014 budget

Times Reporter 

 

Mel Tiede, director of corporate services for the Town of Strathmore presented the 2014 budget at the Dec. 4 regular council meeting. One point highlighted from the budget is that the municipal tax for 2013 is 2.5 per cent higher than the budgeted tax of 2013. 

“The 2.5 per cent is budget over budget. When you facture in a growth factor of approximately one per cent or something close to that, the actual tax increase that the average property will be seeing will be less than two per cent,” said Tiede. 

The budget also includes an increase in spending for services provided to the community by the Youth Club of Strathmore -$110,00- and $129,000 for the Strathmore Family and Community Support Services (FCSS).

The additional funds for FCSS are mainly for wages. Linda Nelson, deputy chief administrative officer, said that FCSS has taken on approximately 60 additional home care support clients, and are providing free snow clearing services for seniors and those with disabilities, which has added to the increase. 

As for the increase of to the Youth Club, the town now provides staffing dollars under the umbrella of FCSS. The club still operates as a separate entity with its own board and charitable status. The town is currently paying for two part time positions and up to 40 hours of facilitator time, and building utilities. Beginning in January the town will increase it to two full time positions, with the rest staying the same.

There is no fee increase in the budget for water, sewer or waste. Capital spending for various projects will be $4,773,000 and will be funded 92 per cent by grants, and the balance will be funded by reserves. Pathways and playgrounds account for $266,000 of the capital spending.  

“The largest capital project is the reconstruction of Lakeside Blvd at $1,575,000,” said Tiede. 

“The second largest is the waste water line reconstruction at the Bow River, the line was damaged by the flooding in the spring of 2013. It is anticipated that the provincial grant funding will be received to cover the cost of this project, that’s the disaster grant funding.”

In all there are 30 projects included in the 2014 capital program.

The debt owed by the town has been steadily coming down. The debt principal payments totaled $1,542,000 at the end of 2012. 

“The debt owed by the town is $16,930,000 and will be reduced to $15,460,000 at the end of this year and it will go down by a further $1,542,000 (In 2014),” said Tiede. 

No new borrowing is anticipated for 2014.