County evaluating new budget timelines

By John Watson Local Journalism Initiative Reporter

Wheatland County council is evaluating the merit in changing the timeline for which its annual budget process is handled. 

During the June 16 meeting, administration had suggested to begin the interim process earlier, as well as to establish parameters for council to follow for upcoming financial years.

“What administration is trying to do is just get the budget process started a little bit earlier this year, and then just recognizing the context of some of the things that were brought up during the interim budget process,” said Joel Chiasson, manager of financial services. 

Elements which will require council’s attention include reserve balances, tax strategies, asset management, and infrastructure requirements over the next several years.

“What we are proposing this time is to bring capital discussions forward in October and that will allow council time to review in detail all of those projects, make more specific decisions, have a bit more (information) on the implications of deferring projects or going forward with them and deciding what the priorities are,” said Chaisson. “Typically, what we do is bring the capital budget and have the discussions around that with council in mid to late November and that leads us into approving the interim budget in December.”

In terms of projected value, there are across all categories, an estimated $234 million over the current plus forward 10 years. 

Administration is estimating annual requirements, depending on either a 10- or 20-year average, working out to between $11.7 and $23.4 million.

“If you are looking at funding that through annual reserve contributions, we are certainly not at that area yet but that is part of this process, is making a plan to meet the asset and infrastructure demands with the revenue and reserves and the funding required,” said Chiasson.

For the context of the report, which has been made publicly available through council’s meeting agenda, years two through five of the current capital plans have been presented and summarized.

The proposed capital costs presented in 2027 are approximately $40 million. These costs are gradually reduced between the next capital year and 2030, planned to be dropped to $27.4 million by that time. 

Costs were represented excluding any drawdown of the county’s existing reserve balances, as well as excluding reserved dedicated to specific uses or other funding sources.

Council voted to establish a preliminary budget cap of $25 million for the 2027 capital budget. Additionally, administration was directed to identify existing infrastructure which may be best considered for retirement or decommission.

Administration will return before council by November with a long-term financial plan covering a 10- to 20-year horizon to ensure the county’s financial sustainability.