Big Valley council has approved its 2022 Operating and Capital budgets and have managed to maintain zero increase for its municipal tax rate following the regular Thursday, May 19 council meeting.
Although the 2022 budgets were passed during the April 21 council meeting, amendments were brought back for council consideration and approval to avoid potential budgetary deficits.
“The operating budget amendment was necessary because revenues had been overstated in the original budget that was passed, and had to be amended so we didn’t end up with a potential deficit,” Chief Administrative Officer (CAO) Elaine Macdonald explained.
Council passed the operating budget in the amount of $654,115 and a capital budget of $140,000.
CAO Macdonald notes, despite the amendments to the Operating budget, this will not impact the zero increase to the municipal tax rate, and village residents will also see no increase to their municipal water service fees.
Council also authorized the use of $15,342 in Municipal Operating Support Transfer (MOST) funds to help balance the 2022 Operating budget. Municipalities across Alberta received provincial funding in 2020 to help offset additional operating costs due to the COVID-19 pandemic, which included provisions for lost revenues.
