Council Notes - May 12th, 2015

Council Notes - May 12th, 2015

2015 Operating and Capital Budgets and Mill Rate. Council has approved the 2015 Operating and Capital Budgets and Mill Rate Bylaw. The Interim budget was approved in December and adjustments have been made to reflect any year end transfers and known changes to expenditures and revenues since that time. The 2015 capital projects total $7,881,751 and will be funded from Provincial and County grants, as well as transfers from reserves. In order to balance the 2015 Operating budget a 3% increase in residential and non-residential tax revenues is required. The 3% is down 0.9% from the projected increase in the Interim budget. This does not necessarily mean taxes for every property will go up as the actual taxes owed by a property owner is dependent on their property assessment.

This year, the Evergreens Foundation requisition contains a Capital requirement along with the usual Operating portion. To generate the extra amount required, there will be an approximate 2.5% tax increase for the Evergreens portion of taxes.

The need for a 3% increase in municipal tax revenue, in conjunction with the increase is Town assessment, has produced the following mill rates.

2015 Residential Mill rates:
Municipal mill rate – 5.2626 mills (2014 mill rate – 5.419 mills)
Evergreens Foundation mill rate – 0.3307 mills (2014 mill rate – 0.1207 mills)
School mill rate - 2.3267 mills (2014 mill rate – 2.4074 mills)
2015 Total Combined mill rate - 7.92 mills (2014 mill rate – 7.95 mills)

2015 Non-residential Mill rates:
Municipal mill rate – 14.6049 mills (2014 mill rate – 15.4408 mills)
Evergreens Foundation mill rate – 0.3307 mills (2014 mill rate – 0.1207 mills)
School mill rate - 3.3244 mills (2014 mill rate –3.2785 mills)
2015 Total Combined mill rate – 18.26 mills (2014 mill rate – 18.84 mills)

While there is a 3% increase in tax revenue required, an overall increase in assessment for the Town means the actual combined mill rate has dropped slightly.

Here is a quick example on how this would affect the average homeowner. A home with an assessment value of $300,000, assuming it’s had no change in assessment from last year to this year, means the homeowner would pay $9 less in taxes this year.

Finally, to give an idea of the amount raised in taxes, the 3% increase for this year will net the Town approximately $390,820 for municipal use in 2015.

The 2015 Final Budget Recap Documents are attached.

Daycare Society of Edson Delegation. Council received a presentation from the Daycare Society of Edson regarding a survey they had distributed asking residents about the need for public transportation in Edson. 95 surveys were returned with 86 people feeling there is a need for public transportation in the Town. The survey details were passed on as information to Council.

Temporary Parking Closure. Council approved the blocking off of the parking stalls on Main Street from Hard Luck Tattoos to the Alberta Treasury Branch on May 22, 2015. The closure will take place from 9am to 3pm and allow for a silent auction and Barbeque in support of the Stollery Children’s Hospital. The organizer has also approached businesses in the area regarding the temporary parking closure.

Meeting Cancellation. Council has cancelled the regular Council Meeting scheduled for May 19th, 2015 at 7:30pm.

The next Council Meeting is scheduled for May 26th at 1:30pm in the Council Chambers of the Edson Civic Building.