HIGH RIVER, ALBERTA – At their November 12 meeting, High River Town Council received an update on the recently announced 2019 Provincial Budget and its impact on the Town’s finances from Kola Oladimeji, Chief Financial Officer. “There will be significant reductions to some municipal grants totalling approximately $1 million,” noted Kola Oladimeji, Chief Financial Officer for the Town. “This will impact the 2020 operating and capital budget funding. It will also require careful review and discussion as the Town’s 2020 Budget is prepared.”
“Given the Province’s current financial realities, we have anticipated a budget of restraint in our 2020 budget planning,” says Deputy Mayor Michael Nychyk. “Council and Administration will work diligently to maintain and deliver essential services, ensure quality of life and provide excellent municipal services.”
Impacts to the Town include:
- Municipal Sustainability Initiative (MSI): 14% reduction in 2020 estimated capital grant of $420,000 per year.
- Grant Funding currently provided through Children’s Services for prevention and early intervention will be issued under a re-designed approach. Programs that are currently funded will have to re-apply for funding. Current funding is in place until March 31, 2020 and new funds will be released in April 2020 to the approved applicants. The change may impact up to $440,000 of programing for High River and area.
- Education Tax Requisition: 4% increase of $196,000.
- Grants in Place of Taxes: 25% reduction in 2019 and 50% reduction in 2020. Budget impact of $38,000 and $77,000 for 2019 and 2020 respectively.
- Summer Temporary Employment Program cancelled: $12,000 per year impact.
“We would like our residents to know that we will maintain a focus on providing quality support and programming to families in our community,” adds Deputy Mayor Nychyk. “Administration will review the new funding process, including potential opportunities that may be presented, and submit an expression of interest.”
Other budget impacts are being reviewed carefully by the Town as details become available and will be further discussed as part of the preparation of the 2020 Budget with Council.
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Kola Oladimeji, CPA, CGA, MBA
Chief Financial Officer