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Friday, January 6, 2017

Town of Pincher Creek council approves 2017/2018 budgets

C. Davis/T. Lucas - At their December 12, 2016 meeting, council for the Town of Pincher Creek approved the 2017 and 2018 operating budgets, as prepared and recommended by Director of Finance and Human Resources Wendy Catonio.

The Town's 2017 operating budget has been set at $13,245,479 in total, with $11,992,656 anticipated in revenues and $1,253,264 in amortization expenditure for an anticipated cash surplus of $441 for the year. A 2017 capital budget of $11,716,702 for projects and transfers was approved as presented.

A 2018 operating budget of $4,333,000 for projects and transfers was approved as presented.

The Town's 2018 capital budget has been set at $11,725,588 in total, with $10,472,887 anticipated in revenues and $1,253,264 in amortization expenditure for an anticipated cash surplus of $563.

Councillor Mark Barber said "I think Wendy (Catonio) did an amazing job of keeping us all in line, and keeping us well informed as to the challenges that the budget presents. I really do appreciate all your work in trying to keep us at that 1% and 2% increase in the first year and the second year. I know these are tough times, and we were aiming for 0%, but I think we are all comfortable at that 1 to 2%. Thank you for all your hard work."

Mayor Don Anderberg said "We are now at a 1% increase for 2017 operating, and a 2% increase for 2018, operating, approximately 1% tax is about $40,000 approximately." Anderberg said one of the reasons for the increase is the Province of Alberta used to give the town a grant in lieu of taxes with Community housing properties. "For the municipal portion, our portion, we are at 0% for 2017, and we didn't want to hide that 1%, because if you hide it, then it doesn't get talked about." Council discussed that there were many projects done by the town, and that there was a large amount of federal funding within the community over the last period of time. "Virtually our reserves are still at the same level as they were in 2016, and they will remain there through 2017 and '18 unless we run into an issue we haven't foreseen."

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