County committee opens final 2024 budgets discussions
By John Watson Local Journalism Initiative Reporter
An update regarding Wheatland County’s operating and capital budgets was presented by administration to the Committee of the Whole, during the March 28 meeting.
The presentation included a summary of the changes that have been made to the 2024 interim operating and capital budgets, which are to be included in the draft of the final 2024 operating and capital budgets.
The final budgets were presented to council during the regular meeting, which took place April 2.
“What we typically do is, around August we start doing our plans for the next year with management and putting together capital and operating budgets … and within our software, compiling all that together,” said Joel Chiasson, manager of financial services with Wheatland County. “Then we usually have meetings with council around November (or) early December and deliberate, provide a lot of substantial details on specific capital projects and the operating budget, and that is the point then a lot of the operating plans and the capital plans for the upcoming year are put in place and approved by council.”
Final capital and operating budgets are looked at and approved at the end of March and the beginning of April annually, in preparation for the remainder of the capital year.
Also observed is the income from property taxes, which he explained accounts for roughly 70 per cent of the county’s income.
“The main reasons or the focus of this period of time, is it gives an opportunity for any material changes to expenditures; anything that has maybe been approved by council in a resolution in that in-between term as an increase can be thrown into the budget, whether it is a capital or operating item,” said Chiasson.
County council approved the 2024 interim operating and capital budgets on Dec. 19. The draft of the final 2024 budgets has been amended in order to reflect the 2023 property assessment values, final school requisition, and a host of other changes.
The drafted document suggests operating expenses for the county at $54.13 million, being an increase of $1.59 million from the 2023 budget.
Similarly, the drafted final capital budget reflects a $1.91 million increase from the interim budget. Of this increase, $0.95 million is accounted for via incomplete, but approved projects carried over from 2023 to finish in 2024. Another $0.84 million is from an approved land purchase transaction that was completed in Q1 2024.
More information regarding the drafted final budget is available through the Committee of the Whole meeting recording, as well as via the public meeting agenda.