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Good afternoon and welcome to our

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special council meeting for February

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24th, 2026.

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I'll call the meeting to order at 5:00

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pm.

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First item on the agenda, agenda item

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1.1, land acknowledgement. The town of

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Coldell acknowledges [clears throat]

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that we are gathered on the lands of the

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Blackfoot peoples of the Canadian plains

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and pays respect to the Blackfoot

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people's past, present, and future while

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recognizing their cultural heritage,

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beliefs, and relationship to the land.

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The town of Coldell is also home to

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Matei District 1 foothills. Agenda item

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1.2, conflict of interest declaration,

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pecunary or nonpunary. Are there any in

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the room this afternoon?

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None declared. Thank you.

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Moving on to

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agenda item 2.1, acceptance of the

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agenda for our meeting today for special

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council meeting agenda February 24th,

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2026. I have one addition under addition

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agenda item 13.2 two

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Colddale procedures and transacting of

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business by council of the town of

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Coldale. Are there any other additions

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to the agenda?

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Seeing none, could I get someone to

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entertain making a motion that council

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adopt a special council meeting for

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agenda for February 24th, 2026 as

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amended? Councelor Reese makes that

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motion.

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I'll call for the vote.

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And that vote is carried.

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Moving down to the agenda under new

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business, we have our draft 2026 to 2028

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operating budget and we have our chief

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financial officer, Tim Koba, presenting.

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and Tim just wanted to congratulate you

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on behalf of uh council with your new

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position. Thank congratulations.

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So before I open it up to Tim, is there

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anything you wanted to start off before

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I let the library library come and do

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their presentation?

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» Uh no. Uh I don't have anything. Um

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thank you.

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» Okay. So, Kendra, we'll let the two of

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you come up and uh whenever you're

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settled in, you got to use your

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microphone and if you could both

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introduce yourself for the public record

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and then you can do your presentation,

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please.

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» My name is Kendra Bur. I am the head

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librarian at the Coldell Public Library.

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» My name is Candace Langworthy. I am the

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current Coell Public Library Board

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Chair.

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Thank you for having us here. Good

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evening, mayor and council.

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I'm here on behalf of the Cold Public

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Library Board to speak to our 2026

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budget request, specifically the

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reinstatement of a full-time assistant

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librarian position.

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Over the past three years, our library

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has experienced significant growth. Door

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counts have increased 28%.

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Program attendance has grown 164%.

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That growth spans children, teens,

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families, and adults. It reflects strong

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community demand and meaningful

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engagement.

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We are very proud of what our small team

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has accomplished during this period of

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growth. But as I'm sure you can imagine,

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the difficulty this has posed when

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staffing levels have not increased at

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the same pace as service demand. So we

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have approached this request carefully

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and creatively.

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As you probably know from our budget

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request last year, we have offset costs

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where possible and reallocated funds to

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minimize impact for our 2026 budget. And

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thank you so much to Tim for working

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together with me to do this. We are

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grateful for our partnership with the

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town and how this council has

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consistently shown strong support for

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our library and tonight we are asking

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for your approval to reinstate this

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position so we can continue to meet the

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needs of this growing community.

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» Thanks.

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» Thank you.

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I'll open it up to members of council.

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Any questions, comments?

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So, Kendra, that was a

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» Cole's notes version of your ask.

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» So, this position, what are they going

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to be exactly doing?

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» So, it would be an assistant librarian

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position. They would um have

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um professional oversight. They would

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also have um they would be a part of

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program development. They would be a

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part of um community engagement.

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and um eventually

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um having that MLIS compliance that we

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need when we hit um 10,000 for our

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population.

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» And what kind of uh resume do they have

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to have? Like what kind of education for

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something like that?

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» Uh masters of library and information

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science.

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» Thank you. Council Avery has a question.

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Thank you, mayor. Thank you for your

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presentation. Um and I can appreciate

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the increase in um people attending the

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library. Do we know the percentage of

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town versus county that are coming in?

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» Yeah. So, our um our library

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memberships, 87% of them are from the

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town and about 13% are from the county.

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» And does the county contribute any

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funding towards the library?

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» Yes, they do. So that the county

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residents, they do pay for their yearly

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membership whereas town um residents,

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they they enjoy a free library card. Um

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and also the county contributes to the

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rural grant services. Um and that is

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split between us and patribute. And

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» Will the county be contributing to this

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position at all?

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» Uh what they contributed last year was

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around 37,000.

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Thank you. Any further questions,

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comments for our presenters?

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Well, thank you very much.

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» Deputy Mayor Beakman speaks highly of

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your team, so we appreciate everything

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you do.

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» Thank you. Appreciate it.

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» You're free to go.

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» Thank you.

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» So, back to our 2026 to 2028 operating

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budget. We have our chief financial

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officer, Tim Kova, presenting. And Tim,

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whenever you're ready.

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» Okay. Thank you, uh, Mayor Van Rein, and

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welcome, council. Um, so tonight's

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meeting is meeting number two of three

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that we have scheduled for the operating

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budget deliberations.

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Um, now this presentation, um, I will

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start off by kind of summarizing what we

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summarizing some of the kind of like the

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the reasons for this budget in front of

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you today as as well as um you know our

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budgeting approach to get to uh what you

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see in front of you. Um there will be a

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lot of information so please feel free

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to just stop me and ask if you have any

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questions along the way. Um,

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I guess the information I I do have two

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separate um I guess PDF documents that

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have been attached for the draft

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operating budget and I will I will be

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jumping back and forth between the two.

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Um, now the first two slides that you

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see in the budget presentation, these

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are all points that are covered um in

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our in the cover letter that's attached

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to the draft operating budget. Um these

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are items that I will speak to um

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individually um as we go through um kind

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of like the the overall summary of the

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2026 budget uh 2026 to 28 budget. Um so

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these first two slides I'm just going to

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real quick skip through those ones. Um,

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and I think it's kind of important to

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maybe go through um, our budgeting

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approach first so that council has an

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understanding of, you know, the reasons

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why we uh, did the budget the way we did

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and and sort of just to let council know

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that we we kept in mind uh, council's

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objectives in in their strategic um, you

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know, what what they wanted to see from

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the town um, and and kind of what the

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their expectations were for 2026.

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Um [snorts] now just to clarify this

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budget is mainly focused on 2026. Uh we

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we when we approach departments for

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their asks we asked them to focus mainly

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on 26. Um there are some numbers that we

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uh have budgeted out 27 and 28th for

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growth and um you know there are certain

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agreements that that go up um and so

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those have been reflected and I'll I'll

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make it very clear which which items

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those are and uh uh like I said again if

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you have questions feel free to stop me.

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Um so the 26 to 28 operating budget uh

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we first met in October, November with

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each department to get an idea of what

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their requests would be for 2026.

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Um we what I did first is you know we we

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worked in those requests based on um

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sort of the data that the previous CFO

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had populated you know for 26 and 27

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when he prepared last year's budget. Um

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however, in order to get and and he did

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an excellent job at um projecting out

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makes making sure things were included

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and and we were uh prepared for the

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future uh by setting aside you know

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transfers through capital reserves and

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and making sure that uh you know

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utilities were self-supported and taxes

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were funding ongoing expenses. Um

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however for myself uh and being new to

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this role my first year presenting an

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operating budget um I we we really

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wanted to get a a really good

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understanding um so to get a base level

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understanding of you know what services

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we are providing what what costs are

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there and then as well along the way we

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also um

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you know uh I also looked at what uh the

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alloc ations were and um you know we did

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adjust allocations kind of across the

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board. So you might notice that some

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expenses might jump, some might go down

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significantly

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um but that's just due to a change in

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the allocation. So there are some

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categories uh such as salaries and wages

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um you know natural gas and power

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municipal utilities uh debentures, bank

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charges and interest and insurance for

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example that affect the whole

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organization and the way that the

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previous CFO had those allocated out.

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you know, I may I may have made some

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tweaks, but um overall I can tell you

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kind of what the increases are across

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those um specific items. Um and then

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there are items that departments have uh

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you know more uh discretion over. So you

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I I would be talking about things like

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contracted services, purchases of

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supplies, materials, uh construction

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materials. Um and those items, you know,

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that's where we met with the departments

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and went through line by line to figure

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out, you know, are these where they

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should be? Should we increase certain

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amounts, decrease certain amounts? Um

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and and it was a we we did have more

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meetings in um 2026. Um, so those are

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follow-up meetings uh in January,

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February um to get to the budget that

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you see in front of you today. So it it

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is kind of a rework from the ground up

275
00:12:43,600 --> 00:12:49,600
for a lot of items. Um there's a lot of

276
00:12:46,000 --> 00:12:54,639
allocation changes. Um, however, I think

277
00:12:49,600 --> 00:12:57,040
the main uh message or the main uh goal

278
00:12:54,639 --> 00:13:00,000
of this budget was to present something

279
00:12:57,040 --> 00:13:02,079
to council that was um, you know, that

280
00:13:00,000 --> 00:13:05,279
gave us an understanding of, you know,

281
00:13:02,079 --> 00:13:10,000
the town's operations and and to provide

282
00:13:05,279 --> 00:13:14,160
um, a budget that didn't uh, impact

283
00:13:10,000 --> 00:13:16,079
residents or that that had a 0% uh,

284
00:13:14,160 --> 00:13:18,480
residential tax increase for at least

285
00:13:16,079 --> 00:13:22,079
the 2026 year. And that was important

286
00:13:18,480 --> 00:13:25,279
because of a few items. Um, you know, as

287
00:13:22,079 --> 00:13:27,279
council is aware, we we approved a

288
00:13:25,279 --> 00:13:30,560
utility rate bylaw that had utility rate

289
00:13:27,279 --> 00:13:34,000
increases that we weren't expecting. Um,

290
00:13:30,560 --> 00:13:35,920
there are um there is a rates and fees

291
00:13:34,000 --> 00:13:37,680
bylaw that that went through first

292
00:13:35,920 --> 00:13:39,839
reading. Um, but that one also has some

293
00:13:37,680 --> 00:13:42,480
slight increases in it. So, you know,

294
00:13:39,839 --> 00:13:46,800
considering everything, um, we wanted to

295
00:13:42,480 --> 00:13:48,720
take an approach that, um, would soften

296
00:13:46,800 --> 00:13:50,160
the impact to residents. You know, we

297
00:13:48,720 --> 00:13:52,399
don't want to see someone come in and

298
00:13:50,160 --> 00:13:54,800
then and then see sudden increases

299
00:13:52,399 --> 00:13:57,680
across the board. So, um, we did look

300
00:13:54,800 --> 00:14:01,920
very carefully at all of our projections

301
00:13:57,680 --> 00:14:04,240
for both revenue and, uh, for expenses.

302
00:14:01,920 --> 00:14:07,760
uh we went line by line making sure that

303
00:14:04,240 --> 00:14:10,079
onetime costs that were in 2025 uh were

304
00:14:07,760 --> 00:14:13,519
not being carried forward so uh there

305
00:14:10,079 --> 00:14:16,160
weren't any duplicates. Um

306
00:14:13,519 --> 00:14:19,040
and then you know one of the one of the

307
00:14:16,160 --> 00:14:21,279
principles that we kind of followed um

308
00:14:19,040 --> 00:14:24,800
and and one that we carry forward from

309
00:14:21,279 --> 00:14:28,160
the previous CFO is to ensure that we're

310
00:14:24,800 --> 00:14:31,440
not relying on surplus funds to fund

311
00:14:28,160 --> 00:14:35,199
annual costs. So that's a big one. um

312
00:14:31,440 --> 00:14:37,600
you know if if uh ongoing costs are

313
00:14:35,199 --> 00:14:41,360
going up they should be funded um

314
00:14:37,600 --> 00:14:43,600
through ongoing revenues um and [snorts]

315
00:14:41,360 --> 00:14:45,440
it it took a bit of work and it also

316
00:14:43,600 --> 00:14:48,480
required a little bit of work on getting

317
00:14:45,440 --> 00:14:50,639
the year end caught up. So there was um

318
00:14:48,480 --> 00:14:53,279
there was a period in January where uh

319
00:14:50,639 --> 00:14:56,880
we did have to get November and December

320
00:14:53,279 --> 00:14:59,600
uh numbers kind of as best we could. Um

321
00:14:56,880 --> 00:15:02,959
we still have the year end uh that needs

322
00:14:59,600 --> 00:15:04,639
to be uh well the file needs to get to

323
00:15:02,959 --> 00:15:07,040
the auditors by the end of this week. So

324
00:15:04,639 --> 00:15:10,240
it is still in progress. So the numbers

325
00:15:07,040 --> 00:15:13,360
that I'm reporting here on 2025 actual

326
00:15:10,240 --> 00:15:17,040
are unodudited and those numbers are

327
00:15:13,360 --> 00:15:18,720
well they will change. Um however I I

328
00:15:17,040 --> 00:15:22,959
tried to reflect as best I could what

329
00:15:18,720 --> 00:15:25,360
what those changes would be. Um,

330
00:15:22,959 --> 00:15:28,560
so on this slide here that we're on,

331
00:15:25,360 --> 00:15:30,959
I'll kind of just go through um some of

332
00:15:28,560 --> 00:15:34,160
those items. Uh, we are projecting at

333
00:15:30,959 --> 00:15:37,519
least a surplus of about 325,000.

334
00:15:34,160 --> 00:15:40,720
Uh we've allocated those that those

335
00:15:37,519 --> 00:15:44,240
surplus funds to kind of sort of cover

336
00:15:40,720 --> 00:15:45,760
uh now we passed a 2026 to 2030 capital

337
00:15:44,240 --> 00:15:48,320
budget and there was one item in there

338
00:15:45,760 --> 00:15:50,320
for the library roof replacement uh for

339
00:15:48,320 --> 00:15:53,360
13,000 that we said would be funded

340
00:15:50,320 --> 00:15:54,800
through uh surplus. Um so we do have a

341
00:15:53,360 --> 00:15:57,600
surplus. So that is in there right

342
00:15:54,800 --> 00:16:00,000
there. Um just one note to make is that

343
00:15:57,600 --> 00:16:02,800
the library board is also contributing

344
00:16:00,000 --> 00:16:06,399
uh 50% of the cost of that uh renovation

345
00:16:02,800 --> 00:16:08,160
or that roof replacement. Um some of the

346
00:16:06,399 --> 00:16:11,120
other items that are coming out of

347
00:16:08,160 --> 00:16:15,279
surplus to fund the 2026 one-time

348
00:16:11,120 --> 00:16:19,680
expenses uh would be uh 16k for uh

349
00:16:15,279 --> 00:16:22,079
council expenses. uh 26,000 for um

350
00:16:19,680 --> 00:16:25,360
additional costs related to upfront

351
00:16:22,079 --> 00:16:28,720
costs related to uh training new CPOS.

352
00:16:25,360 --> 00:16:31,839
Um we've allocated 60,000 for downtown

353
00:16:28,720 --> 00:16:34,800
area restructure plan and supporting

354
00:16:31,839 --> 00:16:36,560
studies. Um now that item there there is

355
00:16:34,800 --> 00:16:38,480
there is a possibility that we could get

356
00:16:36,560 --> 00:16:41,360
grant funding for that one. However,

357
00:16:38,480 --> 00:16:43,519
we're we can't budget for things that we

358
00:16:41,360 --> 00:16:46,480
aren't sure we're receiving and grant

359
00:16:43,519 --> 00:16:49,440
operating grants are one of those. Um

360
00:16:46,480 --> 00:16:52,399
and then we also allocated uh 60,000

361
00:16:49,440 --> 00:16:55,120
towards the wage contingency. Um that is

362
00:16:52,399 --> 00:16:58,079
an operating reserve that's set up to uh

363
00:16:55,120 --> 00:17:01,120
cover you know one-time fluctuations and

364
00:16:58,079 --> 00:17:02,880
wages based on events in the year. Um so

365
00:17:01,120 --> 00:17:05,280
there's currently 40,000 in that

366
00:17:02,880 --> 00:17:08,400
reserve. So, we would add 60,000 and

367
00:17:05,280 --> 00:17:13,039
that is there to be able to draw from if

368
00:17:08,400 --> 00:17:14,959
uh you know uh based on events in 2026.

369
00:17:13,039 --> 00:17:16,720
Um or if we don't need those funds, they

370
00:17:14,959 --> 00:17:19,360
can they can be used in future years as

371
00:17:16,720 --> 00:17:21,439
well. But, uh we've set aside 60,000 for

372
00:17:19,360 --> 00:17:24,000
that. And then obviously these are items

373
00:17:21,439 --> 00:17:26,160
that council would have approval over.

374
00:17:24,000 --> 00:17:28,480
Um but we're we're just trying to kind

375
00:17:26,160 --> 00:17:31,200
of project out what might be needed in

376
00:17:28,480 --> 00:17:34,240
2026, what might be needed even beyond

377
00:17:31,200 --> 00:17:36,480
that. So, the last item there is 150,000

378
00:17:34,240 --> 00:17:38,720
set aside for uh landscaping at

379
00:17:36,480 --> 00:17:42,160
Centennial Park, which would uh likely

380
00:17:38,720 --> 00:17:43,600
be a capital item. Um, but I've included

381
00:17:42,160 --> 00:17:45,520
that there just to kind of give you a

382
00:17:43,600 --> 00:17:47,120
full picture and to kind of tie that

383
00:17:45,520 --> 00:17:50,960
into

384
00:17:47,120 --> 00:17:52,640
um the the first page in the operating

385
00:17:50,960 --> 00:17:56,960
budget that you'll see after the cover

386
00:17:52,640 --> 00:18:00,640
letter. Um the goal was um throughout

387
00:17:56,960 --> 00:18:04,799
this process to get a good idea of 2026

388
00:18:00,640 --> 00:18:08,000
to 28 uh focusing mainly on 2026.

389
00:18:04,799 --> 00:18:10,400
Um and again we want to make sure that

390
00:18:08,000 --> 00:18:15,120
we're not uh you know borrowing from the

391
00:18:10,400 --> 00:18:17,200
future to um to make 2026 work. So, one

392
00:18:15,120 --> 00:18:19,280
of the main things that I looked at was,

393
00:18:17,200 --> 00:18:22,080
you know, how is our transfers to

394
00:18:19,280 --> 00:18:24,080
capital reserves being impacted by a lot

395
00:18:22,080 --> 00:18:26,320
of the changes that we made. So,

396
00:18:24,080 --> 00:18:27,280
» Councelor Avery has a question.

397
00:18:26,320 --> 00:18:29,760
» Yeah.

398
00:18:27,280 --> 00:18:32,080
» Thank you, Mayor. Thanks, Tim. Um, this

399
00:18:29,760 --> 00:18:35,039
presentation has now tweaked something

400
00:18:32,080 --> 00:18:38,960
for me and maybe the CEO has the answer,

401
00:18:35,039 --> 00:18:41,280
but um, so why are we asking the library

402
00:18:38,960 --> 00:18:43,360
board to contribute 50% of maintenance

403
00:18:41,280 --> 00:18:47,039
on a building that belongs to the town?

404
00:18:43,360 --> 00:18:49,200
We don't ask that from any other our um

405
00:18:47,039 --> 00:18:51,760
non not forprofit or other organizations

406
00:18:49,200 --> 00:18:55,360
that are using town facilities to pay

407
00:18:51,760 --> 00:18:57,919
for repairs, i.e. the hub. Um I don't

408
00:18:55,360 --> 00:19:00,400
see anything in there where we're asking

409
00:18:57,919 --> 00:19:02,640
um that organization to pay for roof

410
00:19:00,400 --> 00:19:05,440
repairs. So I'm just wondering why u

411
00:19:02,640 --> 00:19:09,799
we're not budgeting fully for this and

412
00:19:05,440 --> 00:19:09,799
asking library board to contribute.

413
00:19:10,720 --> 00:19:15,280
Uh maybe the CO has a better response

414
00:19:13,200 --> 00:19:17,120
than I do, but I I do believe that as

415
00:19:15,280 --> 00:19:19,600
far as municipalities and funding

416
00:19:17,120 --> 00:19:21,760
libraries go, um the town of Coldell

417
00:19:19,600 --> 00:19:24,160
does fund a lot more than other

418
00:19:21,760 --> 00:19:28,080
municipalities typically do. Um I don't

419
00:19:24,160 --> 00:19:33,559
know if that's correct or not, so maybe

420
00:19:28,080 --> 00:19:33,559
or I think Russ might have an idea here.

421
00:19:35,738 --> 00:19:37,758
[clears throat]

422
00:19:40,480 --> 00:19:43,679
Thank you. Uh, thank you for the

423
00:19:41,679 --> 00:19:46,320
question. It's a good question. Um, and

424
00:19:43,679 --> 00:19:47,760
I don't have what funding it would be in

425
00:19:46,320 --> 00:19:49,919
front of me. I don't have that

426
00:19:47,760 --> 00:19:51,600
information, but oftent times when we're

427
00:19:49,919 --> 00:19:54,880
dealing with these third parties and

428
00:19:51,600 --> 00:19:56,720
especially uh not profit organizations,

429
00:19:54,880 --> 00:19:59,200
they have access to funding. Sometimes

430
00:19:56,720 --> 00:20:00,960
we don't. And so we sometimes partner

431
00:19:59,200 --> 00:20:02,799
with them on whether it's grants and

432
00:20:00,960 --> 00:20:04,880
things like that. And I don't know where

433
00:20:02,799 --> 00:20:06,160
this money particular is coming from. We

434
00:20:04,880 --> 00:20:08,160
can look into that, but I would

435
00:20:06,160 --> 00:20:12,840
anticipate that it's a funding source

436
00:20:08,160 --> 00:20:12,840
like that. You bet.

437
00:20:17,003 --> 00:20:19,023
[clears throat]

438
00:20:19,039 --> 00:20:23,200
» Mayor Ethan.

439
00:20:20,720 --> 00:20:26,320
» Uh thank you, Mayor, and through to Tim

440
00:20:23,200 --> 00:20:29,679
and Russ. Um just on that on that note,

441
00:20:26,320 --> 00:20:33,039
um the board has been the roof has been

442
00:20:29,679 --> 00:20:35,760
um a a concern of ours for the last few

443
00:20:33,039 --> 00:20:37,440
years. uh we had financial uncertainty

444
00:20:35,760 --> 00:20:40,159
within the board knowing that we had to

445
00:20:37,440 --> 00:20:41,440
contribute 50% and I was myself curious

446
00:20:40,159 --> 00:20:43,919
about that. So I appreciate councelor

447
00:20:41,440 --> 00:20:46,080
Avery asking that question was now was

448
00:20:43,919 --> 00:20:47,679
the the year that we finally had

449
00:20:46,080 --> 00:20:49,200
certainty with what our board budget was

450
00:20:47,679 --> 00:20:50,640
that we could go forward with that. So I

451
00:20:49,200 --> 00:20:54,159
know we've been held up because of what

452
00:20:50,640 --> 00:20:56,000
our contribution has been. So I it's a

453
00:20:54,159 --> 00:20:58,720
very good question as to why it was

454
00:20:56,000 --> 00:21:02,000
contingent on the board. So that just

455
00:20:58,720 --> 00:21:03,679
just a comment. Thank you.

456
00:21:02,000 --> 00:21:07,120
» Okay. Yep. Thank you for the question.

457
00:21:03,679 --> 00:21:10,080
Um, and you know, this is definitely one

458
00:21:07,120 --> 00:21:12,240
of those items that we don't have to uh

459
00:21:10,080 --> 00:21:14,799
have an answer for right away. Um, these

460
00:21:12,240 --> 00:21:17,280
are items surplus items are, you know, a

461
00:21:14,799 --> 00:21:19,120
discussion that we'll have when the

462
00:21:17,280 --> 00:21:22,400
draft financial statements are prepared.

463
00:21:19,120 --> 00:21:25,360
Um, I'm expecting them uh closer to the

464
00:21:22,400 --> 00:21:29,120
end of April. So uh we do have some time

465
00:21:25,360 --> 00:21:31,039
to you know uh to uh look at what the

466
00:21:29,120 --> 00:21:33,360
actual surplus figure is and then and

467
00:21:31,039 --> 00:21:37,039
then maybe there there isn't a need for

468
00:21:33,360 --> 00:21:38,720
the library board contribution there and

469
00:21:37,039 --> 00:21:43,320
that is a decision that council can make

470
00:21:38,720 --> 00:21:43,320
at that time. Yeah.

471
00:21:46,880 --> 00:21:51,760
Okay. So um I so yeah I I just wanted to

472
00:21:50,400 --> 00:21:53,840
kind of go through our budgeting

473
00:21:51,760 --> 00:21:56,159
approach for this year. um just so you

474
00:21:53,840 --> 00:21:58,559
kind of understood how

475
00:21:56,159 --> 00:22:01,360
what our goals were what what but we are

476
00:21:58,559 --> 00:22:04,480
trying to uh achieve with the 2026

477
00:22:01,360 --> 00:22:07,200
operating budget. Um with that I'll kind

478
00:22:04,480 --> 00:22:09,440
of just jump into the beginning of the

479
00:22:07,200 --> 00:22:12,720
draft operating budget. Um now there is

480
00:22:09,440 --> 00:22:14,400
a cover letter attached. Um I'll kind of

481
00:22:12,720 --> 00:22:16,400
go through some of the key points here

482
00:22:14,400 --> 00:22:19,600
so that you know because this kind of

483
00:22:16,400 --> 00:22:24,159
feeds into the next well the first page

484
00:22:19,600 --> 00:22:27,440
of the operating draft budget. Um now

485
00:22:24,159 --> 00:22:30,080
the 2026 fiscal year has been balanced

486
00:22:27,440 --> 00:22:33,120
and it does assume a 0% net increase to

487
00:22:30,080 --> 00:22:34,640
residential property taxes. Um meanwhile

488
00:22:33,120 --> 00:22:37,280
the tax rate for non-residential

489
00:22:34,640 --> 00:22:40,880
properties uh is we have it set to

490
00:22:37,280 --> 00:22:44,400
remain static at $10 for every $1,000 in

491
00:22:40,880 --> 00:22:46,640
assessed value or at a mill rate of 10.

492
00:22:44,400 --> 00:22:50,400
Um which we have done the past couple of

493
00:22:46,640 --> 00:22:52,640
years. uh fiscal years 2027 and 2028 uh

494
00:22:50,400 --> 00:22:55,360
which can be evaluated as part of next

495
00:22:52,640 --> 00:22:57,440
year's budget. Um they have also been

496
00:22:55,360 --> 00:23:00,880
balanced as well. Uh but there are some

497
00:22:57,440 --> 00:23:04,960
key items in 27 and 28 um that council

498
00:23:00,880 --> 00:23:06,640
should kind of keep in mind as we um you

499
00:23:04,960 --> 00:23:08,480
know as we also look at look through

500
00:23:06,640 --> 00:23:11,039
2026.

501
00:23:08,480 --> 00:23:12,880
Um some of the key items that I would

502
00:23:11,039 --> 00:23:17,039
like to highlight before we get into the

503
00:23:12,880 --> 00:23:20,559
budget are that um you know a lot of the

504
00:23:17,039 --> 00:23:23,679
elements of this budget um were

505
00:23:20,559 --> 00:23:26,799
reworked. So we we rather than relying

506
00:23:23,679 --> 00:23:28,640
on you know the previous CFO's data and

507
00:23:26,799 --> 00:23:31,600
his assumptions that he may have had

508
00:23:28,640 --> 00:23:34,799
when developing the budget um you know

509
00:23:31,600 --> 00:23:37,919
we kind of uh it was important for

510
00:23:34,799 --> 00:23:40,720
myself personally to really understand

511
00:23:37,919 --> 00:23:42,880
where these numbers are coming from and

512
00:23:40,720 --> 00:23:45,200
um

513
00:23:42,880 --> 00:23:47,679
uh and so it did take a little bit more

514
00:23:45,200 --> 00:23:50,960
work to to actually go back to the

515
00:23:47,679 --> 00:23:54,080
source right to um take uh you know for

516
00:23:50,960 --> 00:23:56,000
example for for property taxes, we we

517
00:23:54,080 --> 00:23:58,400
need to update those annually and we get

518
00:23:56,000 --> 00:24:00,080
assessment values from our assessor uh

519
00:23:58,400 --> 00:24:02,240
and then we use those estimates to kind

520
00:24:00,080 --> 00:24:04,720
of project out. Um so it was important

521
00:24:02,240 --> 00:24:07,919
to kind of go through all of that um for

522
00:24:04,720 --> 00:24:12,559
each of the different areas. Um, I will

523
00:24:07,919 --> 00:24:14,400
say that uh as far as like uh time

524
00:24:12,559 --> 00:24:17,120
management and where I focus most of my

525
00:24:14,400 --> 00:24:19,919
time, uh it would relate back to the

526
00:24:17,120 --> 00:24:22,400
first presentation on February 9th where

527
00:24:19,919 --> 00:24:24,880
we kind of looked at sort of those four

528
00:24:22,400 --> 00:24:28,640
three or four largest revenue items,

529
00:24:24,880 --> 00:24:31,520
right? you have taxes, uh, utilities,

530
00:24:28,640 --> 00:24:34,400
uh, rates and fees, and then you also

531
00:24:31,520 --> 00:24:37,039
have franchise fees. And, and so I did

532
00:24:34,400 --> 00:24:40,559
make sure I spent more of my time in

533
00:24:37,039 --> 00:24:43,039
those larger areas so that, you know, I

534
00:24:40,559 --> 00:24:46,640
was to have to develop more confidence

535
00:24:43,039 --> 00:24:49,039
in in what the numbers were. Um so for

536
00:24:46,640 --> 00:24:52,240
revenue forecasts uh supplemental tax

537
00:24:49,039 --> 00:24:54,480
revenues um we did look at uh building

538
00:24:52,240 --> 00:25:00,159
permit values subdivision fees the

539
00:24:54,480 --> 00:25:02,080
growth um and and we adjusted those um

540
00:25:00,159 --> 00:25:05,600
rather than just carrying forward you

541
00:25:02,080 --> 00:25:09,200
know a 3% increase or 5% increase or you

542
00:25:05,600 --> 00:25:12,159
know um we we tried to really um get an

543
00:25:09,200 --> 00:25:15,600
understanding of of those revenue items.

544
00:25:12,159 --> 00:25:18,240
Um the town is in a growth phase. Um I

545
00:25:15,600 --> 00:25:20,640
was curious. So last night I did look at

546
00:25:18,240 --> 00:25:23,919
uh when I first started at the town in

547
00:25:20,640 --> 00:25:25,600
2018. Previous to that I worked at um an

548
00:25:23,919 --> 00:25:27,279
accounting firm where I was also the

549
00:25:25,600 --> 00:25:28,960
auditor of the town of Coldell. So I was

550
00:25:27,279 --> 00:25:31,840
curious. I looked at 2015 financial

551
00:25:28,960 --> 00:25:33,840
statements very quickly. Um and it was

552
00:25:31,840 --> 00:25:36,400
interesting to see that in 2015 the town

553
00:25:33,840 --> 00:25:38,880
of Coldell budgeted uh 13 million for

554
00:25:36,400 --> 00:25:42,480
revenues. Um so that was an interesting

555
00:25:38,880 --> 00:25:45,840
number. Um wages were about 4.5 million.

556
00:25:42,480 --> 00:25:47,520
Um and so yeah, it it was pretty amazing

557
00:25:45,840 --> 00:25:51,600
to see the amount of growth that has

558
00:25:47,520 --> 00:25:55,360
happened in in you know 10 years. So

559
00:25:51,600 --> 00:25:57,279
um and and I think based on the data

560
00:25:55,360 --> 00:26:01,520
that we're looking at, the town is still

561
00:25:57,279 --> 00:26:03,840
growing um and so will the revenues

562
00:26:01,520 --> 00:26:06,320
associated with growth. uh user fees,

563
00:26:03,840 --> 00:26:08,720
franchise fees, consumption, uh

564
00:26:06,320 --> 00:26:11,440
assessment values, all these help

565
00:26:08,720 --> 00:26:13,200
balance some of the offsetting impact uh

566
00:26:11,440 --> 00:26:15,600
that you see in like corresponding

567
00:26:13,200 --> 00:26:17,679
revenue or rising expenses. So, you

568
00:26:15,600 --> 00:26:20,799
know, [snorts] uh we looked at uh

569
00:26:17,679 --> 00:26:22,960
various benchmarking or comparisons in

570
00:26:20,799 --> 00:26:26,400
the first meeting, you know, wages as a

571
00:26:22,960 --> 00:26:27,760
percent of tax revenue. uh we looked at

572
00:26:26,400 --> 00:26:30,480
you know what are your contracted

573
00:26:27,760 --> 00:26:33,360
services and other major categories as a

574
00:26:30,480 --> 00:26:36,159
percentage of your total revenues. Um

575
00:26:33,360 --> 00:26:38,480
that all helps us to to achieve balance.

576
00:26:36,159 --> 00:26:40,000
Um so growth helps offset some of those

577
00:26:38,480 --> 00:26:44,080
increases that you have in in

578
00:26:40,000 --> 00:26:47,840
year-over-year costs. Um

579
00:26:44,080 --> 00:26:49,600
uh as far as tax assessments go uh we we

580
00:26:47,840 --> 00:26:52,480
are provided with actual assessment

581
00:26:49,600 --> 00:26:54,240
numbers. um and the fact that we sort of

582
00:26:52,480 --> 00:26:56,880
the numbers that we received in

583
00:26:54,240 --> 00:26:58,000
November, December um were a little bit

584
00:26:56,880 --> 00:27:00,240
different than the numbers that we

585
00:26:58,000 --> 00:27:02,320
received in February, but we we made

586
00:27:00,240 --> 00:27:05,279
sure to use the most updated forecasts

587
00:27:02,320 --> 00:27:08,159
in in our numbers.

588
00:27:05,279 --> 00:27:10,720
Um now this next part, uh until that

589
00:27:08,159 --> 00:27:13,520
until that fees and rates bylaw is

590
00:27:10,720 --> 00:27:15,840
passed, um you know, there is a 2%

591
00:27:13,520 --> 00:27:17,840
increase. It it's it won't have a huge

592
00:27:15,840 --> 00:27:20,880
impact on the budget. So regardless of

593
00:27:17,840 --> 00:27:22,640
whether that um changes, I I don't

594
00:27:20,880 --> 00:27:25,378
believe it will impact what you see in

595
00:27:22,640 --> 00:27:25,919
front of you for 2026.

596
00:27:25,378 --> 00:27:29,760
[snorts]

597
00:27:25,919 --> 00:27:34,240
Um expenses were adjusted uh based on

598
00:27:29,760 --> 00:27:37,200
known events as of February 20th um to

599
00:27:34,240 --> 00:27:39,200
enhance precision and accuracy. So a few

600
00:27:37,200 --> 00:27:41,279
of those items, you know, we had a full

601
00:27:39,200 --> 00:27:45,919
year of costs for, you know, natural

602
00:27:41,279 --> 00:27:49,279
gas, electricity. Um we received uh the

603
00:27:45,919 --> 00:27:51,760
2026 invoices for insurance. Um so those

604
00:27:49,279 --> 00:27:53,840
are actual numbers. Um the only

605
00:27:51,760 --> 00:27:55,840
projections within say for example

606
00:27:53,840 --> 00:27:58,559
insurance and some of the utilities is

607
00:27:55,840 --> 00:28:01,279
that um you know we have new facilities

608
00:27:58,559 --> 00:28:02,559
that will be coming online in 2026. So

609
00:28:01,279 --> 00:28:04,159
that includes the potable water

610
00:28:02,559 --> 00:28:06,000
reservoir

611
00:28:04,159 --> 00:28:08,480
um

612
00:28:06,000 --> 00:28:10,720
as well as the storm water management

613
00:28:08,480 --> 00:28:12,640
facility. Um and then for insurance

614
00:28:10,720 --> 00:28:15,039
purposes we we do still need to look

615
00:28:12,640 --> 00:28:18,480
into some items but there there are more

616
00:28:15,039 --> 00:28:20,559
assets coming online that we um we need

617
00:28:18,480 --> 00:28:22,240
to forecast for. So there is a slight

618
00:28:20,559 --> 00:28:27,679
increase in insurance across the board

619
00:28:22,240 --> 00:28:30,399
and that that is a reason for that. Um,

620
00:28:27,679 --> 00:28:32,399
now as I mentioned earlier, we we

621
00:28:30,399 --> 00:28:35,200
monitor the transfer to capital reserves

622
00:28:32,399 --> 00:28:37,600
because you kind of you you almost want

623
00:28:35,200 --> 00:28:39,679
to see that increase year-over-year um

624
00:28:37,600 --> 00:28:41,440
to prepare for, you know, you're growing

625
00:28:39,679 --> 00:28:44,640
your assets, you're investing more in

626
00:28:41,440 --> 00:28:47,440
your capital assets. Um, I've worked on

627
00:28:44,640 --> 00:28:49,440
the annual report for the last 5 years

628
00:28:47,440 --> 00:28:54,080
and and one comment that I make in there

629
00:28:49,440 --> 00:28:58,000
is that the town of Coldell has been um

630
00:28:54,080 --> 00:29:00,960
uh investing more than $15 million a

631
00:28:58,000 --> 00:29:05,120
year in in its tangible capital assets.

632
00:29:00,960 --> 00:29:06,480
So um as that number grows uh so should

633
00:29:05,120 --> 00:29:09,760
the amount that you put away for

634
00:29:06,480 --> 00:29:12,240
reserves and for being prepared for um

635
00:29:09,760 --> 00:29:15,440
you know operating costs, life cycle

636
00:29:12,240 --> 00:29:19,679
costs, unexpected um

637
00:29:15,440 --> 00:29:21,840
uh unexpected costs. Um so we used a

638
00:29:19,679 --> 00:29:24,080
zerobased budgeting approach for many of

639
00:29:21,840 --> 00:29:25,840
the line items. Um you'll see that

640
00:29:24,080 --> 00:29:28,080
there's there's going to be several

641
00:29:25,840 --> 00:29:30,640
allocation changes. One for example is

642
00:29:28,080 --> 00:29:34,559
insurance. um insurance has kind of gone

643
00:29:30,640 --> 00:29:37,520
up across the board. Um facilities are

644
00:29:34,559 --> 00:29:39,520
um the way the previous CFO had had had

645
00:29:37,520 --> 00:29:42,399
allocated is slightly different than the

646
00:29:39,520 --> 00:29:45,200
way I had allocated. Um

647
00:29:42,399 --> 00:29:48,080
but it doesn't uh if you look at it as

648
00:29:45,200 --> 00:29:51,200
an overall basis. Um

649
00:29:48,080 --> 00:29:53,440
that should hopefully explain why why in

650
00:29:51,200 --> 00:29:58,240
some departments you might see insurance

651
00:29:53,440 --> 00:30:00,799
go up but in others it goes down. Um

652
00:29:58,240 --> 00:30:03,600
and so that is one of those allocation

653
00:30:00,799 --> 00:30:07,440
changes. Um along with wages. So wages

654
00:30:03,600 --> 00:30:10,240
and salaries. Um

655
00:30:07,440 --> 00:30:12,640
I believe we we touch on it. Oh, maybe

656
00:30:10,240 --> 00:30:15,120
not. Um

657
00:30:12,640 --> 00:30:18,880
so yeah, wages and salaries is one of

658
00:30:15,120 --> 00:30:20,880
those uh organizationwide items that we

659
00:30:18,880 --> 00:30:24,159
looked at and built from the ground up.

660
00:30:20,880 --> 00:30:27,679
Um Ashley Crab to thank for her help in

661
00:30:24,159 --> 00:30:30,559
in that. Um it was a lot of work um to

662
00:30:27,679 --> 00:30:36,000
to get the the full list of employees

663
00:30:30,559 --> 00:30:39,760
project out um you know um

664
00:30:36,000 --> 00:30:40,960
benefits uh deductions all of that uh

665
00:30:39,760 --> 00:30:43,440
across the board for the whole

666
00:30:40,960 --> 00:30:47,360
organization. Um but that has been

667
00:30:43,440 --> 00:30:49,279
worked into the 2026 and then with um

668
00:30:47,360 --> 00:30:52,880
based on the new collective agreement

669
00:30:49,279 --> 00:30:55,440
and and uh cost of living increases

670
00:30:52,880 --> 00:30:58,000
those that is one item where we have

671
00:30:55,440 --> 00:31:01,200
tried to to project out maybe not new

672
00:30:58,000 --> 00:31:04,080
positions for 27 or 28 but at least for

673
00:31:01,200 --> 00:31:06,080
uh cost of living um we have a good base

674
00:31:04,080 --> 00:31:08,720
and an understanding of those numbers

675
00:31:06,080 --> 00:31:10,960
for 2026.

676
00:31:08,720 --> 00:31:12,880
um

677
00:31:10,960 --> 00:31:15,679
two of the most significant drivers

678
00:31:12,880 --> 00:31:18,080
behind the increase in the 2026

679
00:31:15,679 --> 00:31:20,720
operating budget revenues

680
00:31:18,080 --> 00:31:26,080
um and expenses compared to fiscal year

681
00:31:20,720 --> 00:31:29,120
2025 are um so number one would be uh

682
00:31:26,080 --> 00:31:33,919
the cost of the town's potable water um

683
00:31:29,120 --> 00:31:36,080
utilities. So whereas our consumption

684
00:31:33,919 --> 00:31:38,399
charges went up as a result of changes

685
00:31:36,080 --> 00:31:40,399
made by the city uh effective January

686
00:31:38,399 --> 00:31:42,960
1st, 2026,

687
00:31:40,399 --> 00:31:46,080
um so did the revenues as a result of

688
00:31:42,960 --> 00:31:48,320
those changes. Um when I ran those

689
00:31:46,080 --> 00:31:50,720
numbers, I tried to account for the fact

690
00:31:48,320 --> 00:31:52,720
that if you increase the rates for

691
00:31:50,720 --> 00:31:56,559
consumption, you know, residents might

692
00:31:52,720 --> 00:31:58,799
respond by not using as much water. So I

693
00:31:56,559 --> 00:32:01,440
didn't project a too large of an

694
00:31:58,799 --> 00:32:05,120
increase in consumption. Um and then as

695
00:32:01,440 --> 00:32:07,279
well I did note that we are making those

696
00:32:05,120 --> 00:32:10,640
rate changes effective as of April 1st.

697
00:32:07,279 --> 00:32:15,120
So I I did uh adjust that as well um for

698
00:32:10,640 --> 00:32:18,720
the revenue side. Um and then along with

699
00:32:15,120 --> 00:32:21,440
the the water rate charges um municipal

700
00:32:18,720 --> 00:32:23,279
facilities also use water. Um so those

701
00:32:21,440 --> 00:32:25,840
charges had to go up. So when you see

702
00:32:23,279 --> 00:32:28,320
the M municipal utility line item that

703
00:32:25,840 --> 00:32:33,279
is our cost of water going up as a

704
00:32:28,320 --> 00:32:35,760
result of these rates going up. Um

705
00:32:33,279 --> 00:32:38,159
a close second uh in terms of relative

706
00:32:35,760 --> 00:32:40,720
impact on the town's budget is the

707
00:32:38,159 --> 00:32:44,000
growth of uh the town's non-residential

708
00:32:40,720 --> 00:32:46,880
assessment base. Um however much of that

709
00:32:44,000 --> 00:32:49,120
revenue um associated with assessment

710
00:32:46,880 --> 00:32:52,240
growth it will not be available or

711
00:32:49,120 --> 00:32:53,919
accessible in fiscal years 26 27 and 28

712
00:32:52,240 --> 00:32:56,640
due to the town's industrial park

713
00:32:53,919 --> 00:33:00,320
incentive strategy. Um so while you see

714
00:32:56,640 --> 00:33:05,039
the revenues uh go up significantly uh

715
00:33:00,320 --> 00:33:07,279
on the revenue side um it's actually

716
00:33:05,039 --> 00:33:09,919
uh with the incentive you may you you

717
00:33:07,279 --> 00:33:12,559
will not recognize or be able to uh

718
00:33:09,919 --> 00:33:16,799
utilize those revenues until um that

719
00:33:12,559 --> 00:33:20,480
incentive program uh expires.

720
00:33:16,799 --> 00:33:22,880
Um a portion of the town's 2025 surplus

721
00:33:20,480 --> 00:33:25,519
uh which we can't finalize until after

722
00:33:22,880 --> 00:33:28,880
our year end is complete. Um although we

723
00:33:25,519 --> 00:33:31,200
are getting there. Um we made sure that

724
00:33:28,880 --> 00:33:34,000
the surplus was only used for one-time

725
00:33:31,200 --> 00:33:36,880
expenses unique to fiscal year 2026. We

726
00:33:34,000 --> 00:33:40,159
didn't use uh estimated surplus amounts

727
00:33:36,880 --> 00:33:44,559
to balance the budget or to fund ongoing

728
00:33:40,159 --> 00:33:46,320
expenditures. Um this uh enabled us to

729
00:33:44,559 --> 00:33:48,880
build in expenses without needing to

730
00:33:46,320 --> 00:33:52,000
rely on any tax support in 2026 to do

731
00:33:48,880 --> 00:33:55,519
so. Um the proposed one-time expenses

732
00:33:52,000 --> 00:33:56,960
I've listed out um and summarized in the

733
00:33:55,519 --> 00:34:00,640
first two pages of the budget

734
00:33:56,960 --> 00:34:02,880
presentation. Um and and I will be going

735
00:34:00,640 --> 00:34:07,600
through each of those or I kind of have

736
00:34:02,880 --> 00:34:10,480
been as well. Um but um they are subject

737
00:34:07,600 --> 00:34:13,839
to council's approval. So, if you if you

738
00:34:10,480 --> 00:34:17,440
any of those one-time um increases or

739
00:34:13,839 --> 00:34:19,119
expenses that you note, um you uh yeah,

740
00:34:17,440 --> 00:34:21,679
please feel free to ask questions on any

741
00:34:19,119 --> 00:34:23,200
of those as they come up.

742
00:34:21,679 --> 00:34:24,800
Um

743
00:34:23,200 --> 00:34:26,879
whether or not those items are approved

744
00:34:24,800 --> 00:34:29,280
or not will should not affect the bottom

745
00:34:26,879 --> 00:34:31,520
line uh or the amount of tax support

746
00:34:29,280 --> 00:34:34,159
required to balance the budget. Um,

747
00:34:31,520 --> 00:34:37,200
alternatively, council can table some or

748
00:34:34,159 --> 00:34:39,280
all of these expenses until after

749
00:34:37,200 --> 00:34:43,919
um the fiscal year is audited and

750
00:34:39,280 --> 00:34:48,480
complete. So, until we have a final um

751
00:34:43,919 --> 00:34:51,520
audited surplus number, um we can wait

752
00:34:48,480 --> 00:34:54,800
to uh approve those and and that

753
00:34:51,520 --> 00:34:57,920
includes um those that library um amount

754
00:34:54,800 --> 00:35:00,640
that we had set aside.

755
00:34:57,920 --> 00:35:02,960
Uh so again, I kind of went through this

756
00:35:00,640 --> 00:35:04,560
already, but we had set aside one-time

757
00:35:02,960 --> 00:35:07,200
costs for training new CPOS, the

758
00:35:04,560 --> 00:35:09,520
downtown revitalization study, uh the

759
00:35:07,200 --> 00:35:13,599
roof replacement, landscaping, uh

760
00:35:09,520 --> 00:35:16,800
council chambers, um and then uh asset

761
00:35:13,599 --> 00:35:19,440
management software for 2027. So that

762
00:35:16,800 --> 00:35:21,839
will be a big focus uh moving forward.

763
00:35:19,440 --> 00:35:25,280
Uh we might we likely don't have

764
00:35:21,839 --> 00:35:27,119
capacity in 2026 to to start any of

765
00:35:25,280 --> 00:35:29,839
that. Um, however, asset management

766
00:35:27,119 --> 00:35:33,200
software will be a big help in in being

767
00:35:29,839 --> 00:35:35,920
able to, um, you know, create scenarios,

768
00:35:33,200 --> 00:35:37,839
um, plug in life cycle costs and and

769
00:35:35,920 --> 00:35:39,760
find out optimal kind of maintenance

770
00:35:37,839 --> 00:35:42,400
strategies across all of our, uh,

771
00:35:39,760 --> 00:35:43,920
classes of assets. Um, it's something

772
00:35:42,400 --> 00:35:47,320
that you just can't simply do in an

773
00:35:43,920 --> 00:35:47,320
Excel spreadsheet.

774
00:35:49,520 --> 00:35:55,680
uh for dementures interestonly payments

775
00:35:53,280 --> 00:35:59,760
uh this is related to the acquisition of

776
00:35:55,680 --> 00:36:03,359
water rights. Um now water rights um are

777
00:35:59,760 --> 00:36:06,880
are valuable asset um intangible asset.

778
00:36:03,359 --> 00:36:08,800
They they go up in value um there is an

779
00:36:06,880 --> 00:36:12,880
opportunity to purchase water rights. Uh

780
00:36:08,800 --> 00:36:16,640
we have budgeted in this 2026 28 budget

781
00:36:12,880 --> 00:36:19,760
um a 5-year uh interestonly

782
00:36:16,640 --> 00:36:23,040
uh loan. Uh like I mentioned earlier, we

783
00:36:19,760 --> 00:36:24,800
do have, you know, some revenue items uh

784
00:36:23,040 --> 00:36:27,200
from the incentive program that will be

785
00:36:24,800 --> 00:36:30,160
available further on down the line. And

786
00:36:27,200 --> 00:36:32,960
and so I would um the recommendation

787
00:36:30,160 --> 00:36:34,880
here is to, you know, finance that now

788
00:36:32,960 --> 00:36:36,960
and then and then wait for the future

789
00:36:34,880 --> 00:36:41,119
growth revenues to come in to be able to

790
00:36:36,960 --> 00:36:44,400
fund that into the future.

791
00:36:41,119 --> 00:36:47,040
Uh okay, so new items. The the draft

792
00:36:44,400 --> 00:36:49,040
2026 operating budget includes a few new

793
00:36:47,040 --> 00:36:51,040
items, some that were previously

794
00:36:49,040 --> 00:36:54,720
discussed at the most recent strategic

795
00:36:51,040 --> 00:36:58,000
planning retreat of council. Um, built

796
00:36:54,720 --> 00:37:00,320
into the 2026 budget is $100,000 per

797
00:36:58,000 --> 00:37:03,520
year placed into a reserve for a future

798
00:37:00,320 --> 00:37:06,640
though unspecified recreational project.

799
00:37:03,520 --> 00:37:09,760
Uh, $25,000 capital reserve starting in

800
00:37:06,640 --> 00:37:12,160
2027 for the town's rail spur. Um, now

801
00:37:09,760 --> 00:37:14,079
that is a new asset. However, it's good

802
00:37:12,160 --> 00:37:16,960
to kind of start building up a reserve

803
00:37:14,079 --> 00:37:20,560
for that for unexpected life cycle costs

804
00:37:16,960 --> 00:37:22,745
or uh unexpected costs that come up as

805
00:37:20,560 --> 00:37:23,599
as this is fairly new for the town.

806
00:37:22,745 --> 00:37:26,320
[snorts]

807
00:37:23,599 --> 00:37:28,640
Uh there is 10,000 per year that's built

808
00:37:26,320 --> 00:37:32,160
in for replacing the fire equipment

809
00:37:28,640 --> 00:37:36,160
that's used by the fire academy. Um

810
00:37:32,160 --> 00:37:38,400
and the last item I have here is an

811
00:37:36,160 --> 00:37:40,800
assistant library position that um was

812
00:37:38,400 --> 00:37:42,320
presented earlier by the Coldell Library

813
00:37:40,800 --> 00:37:46,320
Board. [snorts]

814
00:37:42,320 --> 00:37:48,480
Uh future considerations. Uh so the the

815
00:37:46,320 --> 00:37:50,720
total amount of funds that we have set

816
00:37:48,480 --> 00:37:53,680
aside uh as transferred into capital

817
00:37:50,720 --> 00:37:55,119
reserves for 2026 is just over 2.2

818
00:37:53,680 --> 00:37:59,119
million.

819
00:37:55,119 --> 00:38:01,839
Um, that's not including amounts set

820
00:37:59,119 --> 00:38:03,760
aside to capital for ongoing programs.

821
00:38:01,839 --> 00:38:06,240
For example, that doesn't include the

822
00:38:03,760 --> 00:38:09,920
500,000 for the roads program, 200,000

823
00:38:06,240 --> 00:38:12,480
for the sewer relining um or um amounts

824
00:38:09,920 --> 00:38:14,240
that need to come out of current uh

825
00:38:12,480 --> 00:38:18,320
operating revenues to fund current

826
00:38:14,240 --> 00:38:22,400
capital items. Um this is uh future

827
00:38:18,320 --> 00:38:24,000
funds set aside for future purposes. Um,

828
00:38:22,400 --> 00:38:25,920
however, like I mentioned earlier, the

829
00:38:24,000 --> 00:38:29,040
number of assets owned by the town only

830
00:38:25,920 --> 00:38:31,920
continues to grow. Um, and and so does

831
00:38:29,040 --> 00:38:33,760
the age of our existing assets. Um,

832
00:38:31,920 --> 00:38:36,000
while year-over-year increases represent

833
00:38:33,760 --> 00:38:39,119
a positive starting point. Uh, looking

834
00:38:36,000 --> 00:38:40,800
ahead, the focus of 2027 will be the

835
00:38:39,119 --> 00:38:43,440
development of a more robust and

836
00:38:40,800 --> 00:38:45,520
data-driven asset management plan and a

837
00:38:43,440 --> 00:38:48,640
reserve strategy uh that will allow

838
00:38:45,520 --> 00:38:51,680
council to establish longer range goals.

839
00:38:48,640 --> 00:38:54,640
Um look at um

840
00:38:51,680 --> 00:38:59,040
uh look at developing longer range goals

841
00:38:54,640 --> 00:39:02,800
and and and financial um projections and

842
00:38:59,040 --> 00:39:04,720
statements and and to be able to

843
00:39:02,800 --> 00:39:07,280
identify those replacements that are

844
00:39:04,720 --> 00:39:09,920
coming down the line and to be able to

845
00:39:07,280 --> 00:39:13,920
prioritize those based on uh what what

846
00:39:09,920 --> 00:39:16,320
council determines is is uh critical.

847
00:39:13,920 --> 00:39:18,720
Uh in the event that council wishes to

848
00:39:16,320 --> 00:39:20,800
amend or reduce the newly identified

849
00:39:18,720 --> 00:39:22,720
capital reserve allocations that I've

850
00:39:20,800 --> 00:39:25,520
noted, uh administration's

851
00:39:22,720 --> 00:39:28,320
recommendation is to reallocate those to

852
00:39:25,520 --> 00:39:32,079
other reserves um rather than to use

853
00:39:28,320 --> 00:39:34,960
them for uh you know other expenses.

854
00:39:32,079 --> 00:39:41,040
Uh with that that's summarizes some of

855
00:39:34,960 --> 00:39:42,640
the key points of the budget. Um, now I

856
00:39:41,040 --> 00:39:44,400
I hope you brought your magnifying

857
00:39:42,640 --> 00:39:46,400
glass. [laughter]

858
00:39:44,400 --> 00:39:51,560
I there was no way to really I guess I

859
00:39:46,400 --> 00:39:51,560
could have tried to split this out. Um,

860
00:39:52,160 --> 00:39:56,640
what I will do is kind of summarize this

861
00:39:54,000 --> 00:40:01,280
page quickly. So, this is this is the

862
00:39:56,640 --> 00:40:04,320
2026 to 28 budget. Um, but slotted in

863
00:40:01,280 --> 00:40:06,000
there are kind of our best estimate for

864
00:40:04,320 --> 00:40:08,240
2025

865
00:40:06,000 --> 00:40:10,720
um unodudited number. So you can kind of

866
00:40:08,240 --> 00:40:13,839
see where you know what did we project

867
00:40:10,720 --> 00:40:17,680
or budget for 2025 uh where do we think

868
00:40:13,839 --> 00:40:20,960
we'll be and and an explanation of some

869
00:40:17,680 --> 00:40:24,000
of those differences. So um and I

870
00:40:20,960 --> 00:40:26,800
included 2024 column there that's 2024

871
00:40:24,000 --> 00:40:29,680
budget um just to just so you can see

872
00:40:26,800 --> 00:40:32,240
the the incremental growth even from

873
00:40:29,680 --> 00:40:34,880
2024 to 25 was a pretty significant

874
00:40:32,240 --> 00:40:37,280
jump. Um, and then you can see from 25

875
00:40:34,880 --> 00:40:39,760
to 26 that's there is also another

876
00:40:37,280 --> 00:40:42,079
significant jump and and I'll try my

877
00:40:39,760 --> 00:40:45,760
best to kind of explain

878
00:40:42,079 --> 00:40:47,839
the reasons why. Um,

879
00:40:45,760 --> 00:40:49,680
so I really like how this is broken out

880
00:40:47,839 --> 00:40:52,079
because you rather than looking at

881
00:40:49,680 --> 00:40:54,800
department by department, um, just as a

882
00:40:52,079 --> 00:40:57,359
note, I I did include department by

883
00:40:54,800 --> 00:41:01,119
department, budget, line by budget line

884
00:40:57,359 --> 00:41:03,520
information in in an attempt to, um, be

885
00:41:01,119 --> 00:41:07,520
transparent, show the work, um, show how

886
00:41:03,520 --> 00:41:10,000
everything balances out. Um however this

887
00:41:07,520 --> 00:41:13,040
slide here kind of shows you from the

888
00:41:10,000 --> 00:41:15,040
highle view um of our organization what

889
00:41:13,040 --> 00:41:17,760
are our sources of revenue what are

890
00:41:15,040 --> 00:41:21,200
those major sources that council can uh

891
00:41:17,760 --> 00:41:24,000
adjust to uh sort of get the balance or

892
00:41:21,200 --> 00:41:25,839
get the budget to balance um and so

893
00:41:24,000 --> 00:41:28,000
revenues are broken out by type as well

894
00:41:25,839 --> 00:41:30,079
as expenses. So you can see

895
00:41:28,000 --> 00:41:32,160
year-over-year what are we budgeting

896
00:41:30,079 --> 00:41:34,880
for, you know, salaries as a whole for

897
00:41:32,160 --> 00:41:36,319
the town, um contracted services,

898
00:41:34,880 --> 00:41:38,000
everything else. What are what are our

899
00:41:36,319 --> 00:41:41,280
principal debt repayments and interest

900
00:41:38,000 --> 00:41:42,960
look like? Um and then as well, you

901
00:41:41,280 --> 00:41:45,839
know, what are we budgeting for reserves

902
00:41:42,960 --> 00:41:49,440
year-over-year or transfers to reserves?

903
00:41:45,839 --> 00:41:52,240
So, uh this Yeah. Okay. So, I won't get

904
00:41:49,440 --> 00:41:57,119
too ahead of myself. Um starting with

905
00:41:52,240 --> 00:42:00,400
taxes, um you can see 16.8 8 the these

906
00:41:57,119 --> 00:42:02,640
are now the assessment or t tax numbers

907
00:42:00,400 --> 00:42:04,720
are driven by uh the numbers that we

908
00:42:02,640 --> 00:42:07,839
receive for from our assessors. So they

909
00:42:04,720 --> 00:42:09,359
give us numbers showing us what uh is

910
00:42:07,839 --> 00:42:11,680
expected for residential and

911
00:42:09,359 --> 00:42:15,440
non-residential properties. uh we take

912
00:42:11,680 --> 00:42:19,040
those estimates, we use um actually just

913
00:42:15,440 --> 00:42:23,200
use 2025 mill rate um adjusted for

914
00:42:19,040 --> 00:42:24,720
inflation if we do um and then and then

915
00:42:23,200 --> 00:42:27,760
come up with an estimate for the growth

916
00:42:24,720 --> 00:42:30,240
in tax revenue. So you can see last year

917
00:42:27,760 --> 00:42:33,359
uh we budgeted for 16.8 million came in

918
00:42:30,240 --> 00:42:35,119
at 16.6. So, it didn't quite reach the

919
00:42:33,359 --> 00:42:37,520
assessor's estimates, but we know from

920
00:42:35,119 --> 00:42:40,079
the development figures and and the data

921
00:42:37,520 --> 00:42:43,040
that's provided from that department. We

922
00:42:40,079 --> 00:42:44,400
do know that, you know, that revenue is

923
00:42:43,040 --> 00:42:46,160
coming down the line. It's just

924
00:42:44,400 --> 00:42:50,400
sometimes it takes a little bit longer

925
00:42:46,160 --> 00:42:53,599
than what you you might think. Um, but

926
00:42:50,400 --> 00:42:56,400
2026, we use the the assessor numbers uh

927
00:42:53,599 --> 00:43:00,729
that I received in midFebruary. Um and

928
00:42:56,400 --> 00:43:03,280
with that um

929
00:43:00,729 --> 00:43:06,480
[clears throat] and this number here so

930
00:43:03,280 --> 00:43:09,040
the jump from you know the actual 16.6

931
00:43:06,480 --> 00:43:12,720
million to 18.37

932
00:43:09,040 --> 00:43:16,720
uh that is mainly due to uh the simply

933
00:43:12,720 --> 00:43:18,800
growth. There's no um increased taxes on

934
00:43:16,720 --> 00:43:21,119
the residential side. Um for

935
00:43:18,800 --> 00:43:25,359
non-residential uh like I said we kept

936
00:43:21,119 --> 00:43:29,839
the mill rate at 10. So that that is um

937
00:43:25,359 --> 00:43:31,920
includes inflation in that number. Um

938
00:43:29,839 --> 00:43:36,480
but yeah this is simply due to growth.

939
00:43:31,920 --> 00:43:39,760
Um it's important to note that um you

940
00:43:36,480 --> 00:43:42,160
know these revenue numbers need include

941
00:43:39,760 --> 00:43:44,079
the amounts that we collect for

942
00:43:42,160 --> 00:43:49,040
provincial education requisitions and

943
00:43:44,079 --> 00:43:52,640
for green acres. Um so that number uh

944
00:43:49,040 --> 00:43:55,760
from that 18.377

945
00:43:52,640 --> 00:43:57,520
projected um

946
00:43:55,760 --> 00:44:00,880
the provincial requisition numbers are

947
00:43:57,520 --> 00:44:03,920
down here. So you know if you with that

948
00:44:00,880 --> 00:44:08,480
increase um I believe education is about

949
00:44:03,920 --> 00:44:11,119
2 2.6 or 2.7 and then uh green acres was

950
00:44:08,480 --> 00:44:15,920
0.13 or something last year.

951
00:44:11,119 --> 00:44:20,480
just under three um as a mail rate for

952
00:44:15,920 --> 00:44:24,079
um the requisitions. And then uh we know

953
00:44:20,480 --> 00:44:26,240
from the previous uh presentations that

954
00:44:24,079 --> 00:44:28,560
um the residential mill rate is about

955
00:44:26,240 --> 00:44:32,800
6.9 last year. If we factor out

956
00:44:28,560 --> 00:44:34,880
inflation, it it falls to about 6.2. Um,

957
00:44:32,800 --> 00:44:40,240
so I'll kind of just hop around a little

958
00:44:34,880 --> 00:44:42,880
bit, but uh I hope this

959
00:44:40,240 --> 00:44:44,720
is okay. Um,

960
00:44:42,880 --> 00:44:46,480
so again, here's uh residential

961
00:44:44,720 --> 00:44:49,280
non-residential assessment growth from

962
00:44:46,480 --> 00:44:52,319
2022 to 2026.

963
00:44:49,280 --> 00:44:54,480
Um, you can see over the 5 years,

964
00:44:52,319 --> 00:44:57,359
non-residential assessments have gone up

965
00:44:54,480 --> 00:45:00,359
128%, residential assessments gone up by

966
00:44:57,359 --> 00:45:00,359
35%.

967
00:45:01,280 --> 00:45:06,480
And um there is a census for 2026 and

968
00:45:04,880 --> 00:45:08,560
but however these numbers come from the

969
00:45:06,480 --> 00:45:11,359
Alberta regional dashboard. Uh

970
00:45:08,560 --> 00:45:13,920
population from 2021 to 2025 has gone up

971
00:45:11,359 --> 00:45:19,160
6.29%.

972
00:45:13,920 --> 00:45:19,160
Okay. So we are still growing. Um,

973
00:45:20,640 --> 00:45:24,400
and then here's the split in the

974
00:45:22,319 --> 00:45:26,880
residential versus non-residential tax

975
00:45:24,400 --> 00:45:29,920
revenue. Um,

976
00:45:26,880 --> 00:45:32,800
from as far back as 2016. And you can

977
00:45:29,920 --> 00:45:36,640
see now we are closer to if I included

978
00:45:32,800 --> 00:45:39,640
2026, we'd probably be closer to 7030

979
00:45:36,640 --> 00:45:39,640
there.

980
00:45:39,839 --> 00:45:46,640
Okay. So what does that what does our

981
00:45:42,079 --> 00:45:49,119
mill rate look like as a result of um

982
00:45:46,640 --> 00:45:52,319
you know these are 2025's figures. Um

983
00:45:49,119 --> 00:45:54,880
this is the benchmark provided um in the

984
00:45:52,319 --> 00:45:58,079
first operating budget presentation. Uh

985
00:45:54,880 --> 00:46:00,319
Colddale with the recreation tax. Uh we

986
00:45:58,079 --> 00:46:02,640
are you know somewhere we are above

987
00:46:00,319 --> 00:46:05,440
average but you know under Lethbridge

988
00:46:02,640 --> 00:46:08,400
Black falls uh slightly above Taber if

989
00:46:05,440 --> 00:46:10,880
you include that recreation tax. um and

990
00:46:08,400 --> 00:46:13,200
with a mill rate of 6.902.

991
00:46:10,880 --> 00:46:15,839
Uh when you factor out inflation of

992
00:46:13,200 --> 00:46:20,240
2026, you get down to a mill rate of

993
00:46:15,839 --> 00:46:22,640
6.26. Now, okay. So, um I've just kind

994
00:46:20,240 --> 00:46:24,640
of provided these numbers for council's

995
00:46:22,640 --> 00:46:27,440
reference. You know, right now the

996
00:46:24,640 --> 00:46:30,160
budget for 26 to 28 assumes no

997
00:46:27,440 --> 00:46:32,880
residential tax increase, but if they if

998
00:46:30,160 --> 00:46:34,319
council did implement a 1% tax increase,

999
00:46:32,880 --> 00:46:36,880
this is the impact to the mill rate.

1000
00:46:34,319 --> 00:46:40,560
This is the impact to uh the municipal

1001
00:46:36,880 --> 00:46:43,119
portion of taxes.

1002
00:46:40,560 --> 00:46:44,720
And then this is the dollar impact that

1003
00:46:43,119 --> 00:46:47,520
uh based on the dollar value of the

1004
00:46:44,720 --> 00:46:49,440
home. Um

1005
00:46:47,520 --> 00:46:51,760
the next slide will kind of show if your

1006
00:46:49,440 --> 00:46:54,160
tax bill was uh this is just the

1007
00:46:51,760 --> 00:46:57,440
municipal portion of tax. Again, it

1008
00:46:54,160 --> 00:47:00,079
doesn't include the requisitions. Um,

1009
00:46:57,440 --> 00:47:02,000
but a property of 350,000

1010
00:47:00,079 --> 00:47:06,960
uh would have a municipal tax bill of

1011
00:47:02,000 --> 00:47:09,839
2.5 or 2500 uh 2536. If there was a 1%

1012
00:47:06,960 --> 00:47:12,079
increase, that would be the impact. Um,

1013
00:47:09,839 --> 00:47:15,040
and then you can see that for all across

1014
00:47:12,079 --> 00:47:18,040
the scale there uh from a 1 to 3%

1015
00:47:15,040 --> 00:47:18,040
increase.

1016
00:47:18,160 --> 00:47:23,119
Okay. Um, as long as we're talking about

1017
00:47:20,880 --> 00:47:23,599
taxes, I think it's important to kind of

1018
00:47:23,119 --> 00:47:25,440
talk about

1019
00:47:23,599 --> 00:47:26,319
» We just have a question from Councelor

1020
00:47:25,440 --> 00:47:28,720
Ree.

1021
00:47:26,319 --> 00:47:30,000
» Thank you, Mayor Ryan. Thank you, Tim.

1022
00:47:28,720 --> 00:47:32,640
Thank you for your report. It's really

1023
00:47:30,000 --> 00:47:35,440
good so far. Um, just one question with

1024
00:47:32,640 --> 00:47:37,839
the provincial education tax last year.

1025
00:47:35,440 --> 00:47:39,680
It went up quite a bit. And so, I'm just

1026
00:47:37,839 --> 00:47:41,920
curious, what if it goes up quite a bit

1027
00:47:39,680 --> 00:47:44,240
again this coming year or next year, and

1028
00:47:41,920 --> 00:47:47,599
it's not accounted for, or have you

1029
00:47:44,240 --> 00:47:51,119
accounted for that possibility? Uh,

1030
00:47:47,599 --> 00:47:53,760
great question. Um, I what I did for the

1031
00:47:51,119 --> 00:47:57,280
requisitions in the draft budget is I

1032
00:47:53,760 --> 00:47:58,800
just assumed 2025's numbers. So, um,

1033
00:47:57,280 --> 00:48:00,960
since we don't know what those numbers

1034
00:47:58,800 --> 00:48:02,800
are yet, um, and then and I believe the

1035
00:48:00,960 --> 00:48:06,240
property tax bylaw is something that's

1036
00:48:02,800 --> 00:48:07,839
set by council in April, May. So, uh, we

1037
00:48:06,240 --> 00:48:09,920
can look at what those changes are and

1038
00:48:07,839 --> 00:48:12,480
then maybe we can make some adjustments

1039
00:48:09,920 --> 00:48:16,440
then. Uh, but for now, I just assumed um

1040
00:48:12,480 --> 00:48:16,440
that it would stay the same.

1041
00:48:20,560 --> 00:48:26,319
Uh okay. So uh if we're talking about

1042
00:48:23,200 --> 00:48:28,160
residential or just taxes in general, um

1043
00:48:26,319 --> 00:48:30,480
I think it's important before discussing

1044
00:48:28,160 --> 00:48:33,040
any tax increases,

1045
00:48:30,480 --> 00:48:36,400
you know, you get a full picture. So um

1046
00:48:33,040 --> 00:48:38,240
you know, we we raised utility rates um

1047
00:48:36,400 --> 00:48:41,440
you know, for storm, water, sewer,

1048
00:48:38,240 --> 00:48:44,079
garbage. Um, and then there is a

1049
00:48:41,440 --> 00:48:46,800
proposed user uh rates and fees bylaw

1050
00:48:44,079 --> 00:48:49,200
that does propose a 2% increase, you

1051
00:48:46,800 --> 00:48:52,079
know, more or less 2% across the board.

1052
00:48:49,200 --> 00:48:54,720
Um, but what what is the what does that

1053
00:48:52,079 --> 00:48:57,760
look like on the

1054
00:48:54,720 --> 00:49:00,800
I guess on the other side, you know,

1055
00:48:57,760 --> 00:49:03,599
typically taxes are due on June 30th of

1056
00:49:00,800 --> 00:49:06,640
each year. Um, but how many people at

1057
00:49:03,599 --> 00:49:09,520
the end of the year December 31st, uh,

1058
00:49:06,640 --> 00:49:12,640
what are those a year's balances? Um, so

1059
00:49:09,520 --> 00:49:15,440
you can see after after backing out

1060
00:49:12,640 --> 00:49:16,880
significant um one-time accounts

1061
00:49:15,440 --> 00:49:18,960
receivable amounts that have were

1062
00:49:16,880 --> 00:49:20,800
transferred to tax, you kind of sort of

1063
00:49:18,960 --> 00:49:22,800
get an idea of what the changes are

1064
00:49:20,800 --> 00:49:25,839
year-over-year. So you can see that the

1065
00:49:22,800 --> 00:49:28,160
rear's balance is up slightly from well

1066
00:49:25,839 --> 00:49:30,800
it does jump a bit from 24 to 25

1067
00:49:28,160 --> 00:49:32,480
compared to uh the the recent trend

1068
00:49:30,800 --> 00:49:34,800
which was actually kind of dipping a

1069
00:49:32,480 --> 00:49:37,839
little bit. Um, however, this is one of

1070
00:49:34,800 --> 00:49:40,160
those uh indicators that we can monitor

1071
00:49:37,839 --> 00:49:43,200
moving forward. Um, you know, what does

1072
00:49:40,160 --> 00:49:46,160
a what does a 1% tax increase do to this

1073
00:49:43,200 --> 00:49:49,200
number? Um, it might not be perfect, but

1074
00:49:46,160 --> 00:49:53,880
it it is it's a useful measurement that

1075
00:49:49,200 --> 00:49:53,880
we can look at. Um,

1076
00:49:55,760 --> 00:49:59,839
and so that's kind of, you know, when we

1077
00:49:57,839 --> 00:50:01,440
looked at 2026,

1078
00:49:59,839 --> 00:50:04,960
uh, like I said, we used assessor

1079
00:50:01,440 --> 00:50:08,160
estimates. Uh, for 2027,

1080
00:50:04,960 --> 00:50:11,760
um, I believe the growth estimate that

1081
00:50:08,160 --> 00:50:13,839
we used for 2026 was 4.25%. Uh, so

1082
00:50:11,760 --> 00:50:15,599
that's based on, um, you know, kind of

1083
00:50:13,839 --> 00:50:19,280
what we assumed would happen from new

1084
00:50:15,599 --> 00:50:21,760
developments coming on online. uh 2027

1085
00:50:19,280 --> 00:50:25,839
and 2028 we did reduce that down to

1086
00:50:21,760 --> 00:50:28,559
about 3.25% increase in residential uh

1087
00:50:25,839 --> 00:50:32,240
growth or I guess that would be combined

1088
00:50:28,559 --> 00:50:34,800
growth. Um so you know we we we do

1089
00:50:32,240 --> 00:50:38,000
project you know it's not as big of a

1090
00:50:34,800 --> 00:50:41,359
jump from 25 to 26 but we did factor in

1091
00:50:38,000 --> 00:50:44,000
some growth in tax revenue for 27 and 28

1092
00:50:41,359 --> 00:50:48,319
and that was kind of done as a as a way

1093
00:50:44,000 --> 00:50:50,640
to balance out all three years. Um, and

1094
00:50:48,319 --> 00:50:54,559
like I like I mentioned earlier, taxes

1095
00:50:50,640 --> 00:50:57,040
and utilities and uh rates and fees,

1096
00:50:54,559 --> 00:50:59,680
franchise fees. Uh, those are some of

1097
00:50:57,040 --> 00:51:02,400
the bigger ticket items that that we

1098
00:50:59,680 --> 00:51:04,160
really wanted to focus more time on. So,

1099
00:51:02,400 --> 00:51:05,920
we did factor in increases in those

1100
00:51:04,160 --> 00:51:09,760
areas.

1101
00:51:05,920 --> 00:51:15,280
Um, so the next item is sales and user

1102
00:51:09,760 --> 00:51:18,480
charges. Now this um of this 7.5 million

1103
00:51:15,280 --> 00:51:21,200
uh I would say that maybe six maybe just

1104
00:51:18,480 --> 00:51:23,760
over six and maybe 6.5 million is

1105
00:51:21,200 --> 00:51:26,319
related to utilities right so the

1106
00:51:23,760 --> 00:51:29,920
remaining one to one and a half million

1107
00:51:26,319 --> 00:51:36,839
um is your revenue from facilities

1108
00:51:29,920 --> 00:51:36,839
rentals um sale general sales um

1109
00:51:37,200 --> 00:51:43,440
and so you can see that we budgeted

1110
00:51:39,920 --> 00:51:50,119
seven just under 7.5 and we came in at

1111
00:51:43,440 --> 00:51:50,119
uh right now just over 7.5. So um

1112
00:51:51,359 --> 00:51:56,960
uh okay so they came in a little bit low

1113
00:51:53,760 --> 00:51:59,200
or sorry they came in

1114
00:51:56,960 --> 00:52:00,880
um and there are a lot of different

1115
00:51:59,200 --> 00:52:03,359
offsetting things that happen in the

1116
00:52:00,880 --> 00:52:05,119
year. Um just to give you an idea across

1117
00:52:03,359 --> 00:52:09,599
these different categories we're looking

1118
00:52:05,119 --> 00:52:12,160
at about 900 over 900 budget lines. So

1119
00:52:09,599 --> 00:52:14,559
budget um that might not necessarily

1120
00:52:12,160 --> 00:52:16,480
mean that's a number of accounts but um

1121
00:52:14,559 --> 00:52:18,559
there are a lot lot of you know

1122
00:52:16,480 --> 00:52:19,839
different accounts that make up these

1123
00:52:18,559 --> 00:52:21,920
numbers. So you're going to see

1124
00:52:19,839 --> 00:52:24,160
offsetting amounts. You're going to see

1125
00:52:21,920 --> 00:52:27,280
increases in some facilities, decreases

1126
00:52:24,160 --> 00:52:29,440
in other facilities. But in general um

1127
00:52:27,280 --> 00:52:32,240
for user fees they were they came in

1128
00:52:29,440 --> 00:52:34,880
about 124,000 lower than expected and

1129
00:52:32,240 --> 00:52:37,599
that was offset by utility revenue. Um

1130
00:52:34,880 --> 00:52:40,079
that was due to just population growth.

1131
00:52:37,599 --> 00:52:42,559
Um and one indicator of that is that

1132
00:52:40,079 --> 00:52:45,920
water meter fees we typically budgeted

1133
00:52:42,559 --> 00:52:49,359
at 50,000 but they came in at 135,000.

1134
00:52:45,920 --> 00:52:53,040
So that's kind of like new um requests

1135
00:52:49,359 --> 00:52:55,760
for installation of new water meters.

1136
00:52:53,040 --> 00:52:59,599
Um so with that with with that data we

1137
00:52:55,760 --> 00:53:01,359
kind of um increased um you know a large

1138
00:52:59,599 --> 00:53:03,920
portion of the increase that you see

1139
00:53:01,359 --> 00:53:05,520
from 25 to 26 is due to the water

1140
00:53:03,920 --> 00:53:09,760
consumption rates. We did have to

1141
00:53:05,520 --> 00:53:12,960
increase them to um to cover the costs

1142
00:53:09,760 --> 00:53:17,119
of the utility rates uh consumption

1143
00:53:12,960 --> 00:53:19,119
rates going up. Um so that's about 67 or

1144
00:53:17,119 --> 00:53:21,760
670,000

1145
00:53:19,119 --> 00:53:23,520
increase. Um but then also on the

1146
00:53:21,760 --> 00:53:26,640
expense side you can see that I've made

1147
00:53:23,520 --> 00:53:30,319
a comment here that you know um water

1148
00:53:26,640 --> 00:53:33,280
purchases um goes up uh significantly as

1149
00:53:30,319 --> 00:53:35,440
well which offsets that revenue.

1150
00:53:33,280 --> 00:53:37,520
Um

1151
00:53:35,440 --> 00:53:39,280
uh we also look at uh when we look at

1152
00:53:37,520 --> 00:53:43,280
these numbers and these accounts we look

1153
00:53:39,280 --> 00:53:46,640
at the past five years. So 20 22 23 24

1154
00:53:43,280 --> 00:53:52,640
and 25. I guess I would include 21 as

1155
00:53:46,640 --> 00:53:56,240
well. Um to kind of get uh

1156
00:53:52,640 --> 00:53:58,640
to sort of also help form our estimate

1157
00:53:56,240 --> 00:54:01,440
for 2026.

1158
00:53:58,640 --> 00:54:04,240
Um next out of line item we have

1159
00:54:01,440 --> 00:54:06,880
licenses, permits, and fees. Um so you

1160
00:54:04,240 --> 00:54:10,720
can see here we budgeted 277,000 in

1161
00:54:06,880 --> 00:54:14,800
2025. uh they came in at uh just under

1162
00:54:10,720 --> 00:54:16,720
346,000. So that increase um when I look

1163
00:54:14,800 --> 00:54:19,280
at the individual accounts that make up

1164
00:54:16,720 --> 00:54:22,240
licenses, permits, and fees um there are

1165
00:54:19,280 --> 00:54:23,680
just increases across the board. So um

1166
00:54:22,240 --> 00:54:27,520
you know, we have to assume that that's

1167
00:54:23,680 --> 00:54:29,440
due to growth. Um

1168
00:54:27,520 --> 00:54:32,160
and a significant portion of that

1169
00:54:29,440 --> 00:54:34,160
actually is related to uh possibly one

1170
00:54:32,160 --> 00:54:35,680
development. So, uh, we need to make

1171
00:54:34,160 --> 00:54:37,920
sure that when we develop our estimate

1172
00:54:35,680 --> 00:54:39,760
for 2026, we back out kind of those

1173
00:54:37,920 --> 00:54:40,720
significant items that aren't you're not

1174
00:54:39,760 --> 00:54:42,800
you shouldn't expect to see

1175
00:54:40,720 --> 00:54:46,240
year-over-year. Um, but we did project

1176
00:54:42,800 --> 00:54:48,720
an increase of about 28,000 from 2025.

1177
00:54:46,240 --> 00:54:50,720
Um,

1178
00:54:48,720 --> 00:54:53,920
next item here is interest penalties and

1179
00:54:50,720 --> 00:54:56,240
fines. Now, this includes revenues from

1180
00:54:53,920 --> 00:54:59,680
uh photo radar, for example, when when

1181
00:54:56,240 --> 00:55:04,480
that was a program. Um this includes uh

1182
00:54:59,680 --> 00:55:06,480
late fees on taxes and utilities. Um you

1183
00:55:04,480 --> 00:55:10,079
can see we budgeted 170,000 but they

1184
00:55:06,480 --> 00:55:13,760
came in at 390 mainly because of uh

1185
00:55:10,079 --> 00:55:15,440
residual photo radar income that that um

1186
00:55:13,760 --> 00:55:18,240
you know we started to see even though

1187
00:55:15,440 --> 00:55:20,800
we ended the program um you know we were

1188
00:55:18,240 --> 00:55:22,960
still receiving photo radar income into

1189
00:55:20,800 --> 00:55:26,240
I would say about September October and

1190
00:55:22,960 --> 00:55:29,520
now they've kind of leveled off.

1191
00:55:26,240 --> 00:55:32,400
Um, so our estimate is that it's photo

1192
00:55:29,520 --> 00:55:34,480
radar income was about 140,000 and then

1193
00:55:32,400 --> 00:55:36,160
there was an increase of about 80,000 in

1194
00:55:34,480 --> 00:55:37,839
interest and penalties and that that

1195
00:55:36,160 --> 00:55:41,040
sort of also ties into that aers's

1196
00:55:37,839 --> 00:55:46,559
balance chart that I showed you as well.

1197
00:55:41,040 --> 00:55:49,200
Um so for 2026 we did increase those um

1198
00:55:46,559 --> 00:55:51,680
for interests penalty and interest

1199
00:55:49,200 --> 00:55:54,000
penalties and fines that did we did

1200
00:55:51,680 --> 00:55:57,839
increase from what we budgeted in 2025

1201
00:55:54,000 --> 00:55:59,280
to uh by about 94,000

1202
00:55:57,839 --> 00:56:01,520
uh making sure that we didn't include

1203
00:55:59,280 --> 00:56:04,880
photo any photo radar income again in

1204
00:56:01,520 --> 00:56:07,280
2026. Um however we also factored in

1205
00:56:04,880 --> 00:56:09,359
that with uh the addition of new CPOS

1206
00:56:07,280 --> 00:56:13,343
that there would be some fine revenue

1207
00:56:09,359 --> 00:56:13,343
expected in bylaw as well. [snorts]

1208
00:56:13,359 --> 00:56:19,200
Uh long-term contracts and asset returns

1209
00:56:15,920 --> 00:56:22,720
um that that is mainly franchise fees

1210
00:56:19,200 --> 00:56:26,079
and investment income. So uh franchise

1211
00:56:22,720 --> 00:56:27,839
fees makes up about 1.75 million of that

1212
00:56:26,079 --> 00:56:32,319
2.15.

1213
00:56:27,839 --> 00:56:35,839
Um and that number will

1214
00:56:32,319 --> 00:56:38,319
grow with growth. Um new accounts uh

1215
00:56:35,839 --> 00:56:41,200
more consumption uh could impact it as

1216
00:56:38,319 --> 00:56:44,720
well. Um however, our investment income

1217
00:56:41,200 --> 00:56:47,040
we can't uh we we kept that pretty

1218
00:56:44,720 --> 00:56:50,000
consistent or we didn't we didn't

1219
00:56:47,040 --> 00:56:52,000
increase that as much just due to uh we

1220
00:56:50,000 --> 00:56:56,400
have a lot of projects happening. There

1221
00:56:52,000 --> 00:56:59,359
will be a lot of um uh cash uh outflows

1222
00:56:56,400 --> 00:57:02,640
related to those. we have debentures

1223
00:56:59,359 --> 00:57:04,799
um and until we start uh you know

1224
00:57:02,640 --> 00:57:08,160
building back up our reserves reducing

1225
00:57:04,799 --> 00:57:12,960
that uh so with that we budgeted for a

1226
00:57:08,160 --> 00:57:16,079
slight increase in franchise fees and

1227
00:57:12,960 --> 00:57:17,440
um as the comment says this

1228
00:57:16,079 --> 00:57:20,079
we're just projecting that it should

1229
00:57:17,440 --> 00:57:22,160
stay consistent with 25

1230
00:57:20,079 --> 00:57:25,920
uh the next line item is other revenue

1231
00:57:22,160 --> 00:57:28,319
now this is just uh rebates donations

1232
00:57:25,920 --> 00:57:30,240
um

1233
00:57:28,319 --> 00:57:31,920
uh not something that you can easily

1234
00:57:30,240 --> 00:57:35,040
budget. You you shouldn't really budget

1235
00:57:31,920 --> 00:57:36,880
for donations. Um however, if you

1236
00:57:35,040 --> 00:57:39,040
increase programming and part of that

1237
00:57:36,880 --> 00:57:41,359
programming is to solicit for more

1238
00:57:39,040 --> 00:57:43,359
donations, we can't you know, we do

1239
00:57:41,359 --> 00:57:46,559
project out a little bit of an increase

1240
00:57:43,359 --> 00:57:48,960
and that's what that 15,000 increase um

1241
00:57:46,559 --> 00:57:53,319
that is due to community services

1242
00:57:48,960 --> 00:57:53,319
increased programming. Um

1243
00:57:54,720 --> 00:58:00,319
uh next item is government transfers

1244
00:57:57,119 --> 00:58:02,000
revenue. This is money that uh mainly

1245
00:58:00,319 --> 00:58:04,000
operating grants. So that would include

1246
00:58:02,000 --> 00:58:07,359
your 550,000

1247
00:58:04,000 --> 00:58:10,640
uh for the policing plus the 370,000

1248
00:58:07,359 --> 00:58:12,720
additional for the so the 550 would be

1249
00:58:10,640 --> 00:58:16,799
the equity portion and then 370 would be

1250
00:58:12,720 --> 00:58:22,880
the police um support grant. Um also

1251
00:58:16,799 --> 00:58:27,359
included are are um transfers from other

1252
00:58:22,880 --> 00:58:29,920
uh municipalities or from regional

1253
00:58:27,359 --> 00:58:34,040
um

1254
00:58:29,920 --> 00:58:34,040
agreements. Um

1255
00:58:34,115 --> 00:58:35,839
[snorts]

1256
00:58:34,960 --> 00:58:37,440
» Yes.

1257
00:58:35,839 --> 00:58:41,200
» Yeah. Thank you, Mayor. Uh through to

1258
00:58:37,440 --> 00:58:43,200
Tim. Uh just on that line um that uh

1259
00:58:41,200 --> 00:58:45,280
there transfers from uh government.

1260
00:58:43,200 --> 00:58:48,720
Would that include the local government?

1261
00:58:45,280 --> 00:58:51,839
um LG what's called the LGFF acronym um

1262
00:58:48,720 --> 00:58:53,040
local government uh facility I I yes the

1263
00:58:51,839 --> 00:58:56,000
operating side

1264
00:58:53,040 --> 00:58:58,480
» That is one grant that we do budget for

1265
00:58:56,000 --> 00:59:00,880
um and and yes it is the LGFF local

1266
00:58:58,480 --> 00:59:02,559
government fiscal framework grant um the

1267
00:59:00,880 --> 00:59:03,839
operating side of it which is about

1268
00:59:02,559 --> 00:59:04,799
131,000

1269
00:59:03,839 --> 00:59:08,280
» How much is that

1270
00:59:04,799 --> 00:59:08,280
» Uh 131,000

1271
00:59:10,400 --> 00:59:13,839
» Okay

1272
00:59:11,680 --> 00:59:19,240
» So yes and then there are also in there

1273
00:59:13,839 --> 00:59:19,240
uh library grants grants and and um

1274
00:59:21,839 --> 00:59:25,200
yeah, grants operating grants are a

1275
00:59:23,440 --> 00:59:26,559
little bit harder to predict for because

1276
00:59:25,200 --> 00:59:28,240
you apply for them, you don't know if

1277
00:59:26,559 --> 00:59:30,160
you'll get them and then and then you

1278
00:59:28,240 --> 00:59:31,599
you shouldn't really budget for a grant

1279
00:59:30,160 --> 00:59:33,920
if you haven't applied for it yet

1280
00:59:31,599 --> 00:59:33,920
either.

1281
00:59:35,040 --> 00:59:41,520
Um so you can see that

1282
00:59:38,799 --> 00:59:45,680
um there is a decrease uh projected for

1283
00:59:41,520 --> 00:59:48,160
2026 of approximately 168,000. Uh a

1284
00:59:45,680 --> 00:59:50,720
major portion of that is due to the new

1285
00:59:48,160 --> 00:59:54,000
emergency services agreement that was uh

1286
00:59:50,720 --> 00:59:56,559
signed there.

1287
00:59:54,000 --> 00:59:59,359
Uh the transfers from reserves. Now this

1288
00:59:56,559 --> 01:00:02,480
is uh this is an internal reserve

1289
00:59:59,359 --> 01:00:04,319
transfer. It's bringing in money from

1290
01:00:02,480 --> 01:00:07,520
your reserve accounts into your

1291
01:00:04,319 --> 01:00:11,200
operating revenues to help offset, you

1292
01:00:07,520 --> 01:00:14,000
know, those one one-time items. Um, it

1293
01:00:11,200 --> 01:00:16,160
always depends on what what council has

1294
01:00:14,000 --> 01:00:19,280
approved as far as transferring to

1295
01:00:16,160 --> 01:00:21,760
reserves. Um, and then now these are

1296
01:00:19,280 --> 01:00:25,839
amounts coming from reserves. So, uh,

1297
01:00:21,760 --> 01:00:31,119
for 2026 that amount is 355,000.

1298
01:00:25,839 --> 01:00:35,040
Um and I believe that is due to

1299
01:00:31,119 --> 01:00:37,760
um sort of these items here. So the

1300
01:00:35,040 --> 01:00:40,240
council onetime expenses per uh one-time

1301
01:00:37,760 --> 01:00:42,799
CPO training cost, the downtown ARP

1302
01:00:40,240 --> 01:00:46,559
study. Um

1303
01:00:42,799 --> 01:00:48,559
and then also in there are amounts that

1304
01:00:46,559 --> 01:00:50,960
we transferred to reserves in prior

1305
01:00:48,559 --> 01:00:53,440
years. So I believe in 2024 we

1306
01:00:50,960 --> 01:00:56,640
transferred some money into reserves to

1307
01:00:53,440 --> 01:00:59,040
help offset the costs. um for onetime

1308
01:00:56,640 --> 01:01:03,280
cost related to the ERP transfer. So we

1309
01:00:59,040 --> 01:01:05,440
we we're in the we're also in the um

1310
01:01:03,280 --> 01:01:08,000
process of switching accounting uh

1311
01:01:05,440 --> 01:01:10,880
systems right now and so there are still

1312
01:01:08,000 --> 01:01:12,480
costs uh carried forward into 2026 for

1313
01:01:10,880 --> 01:01:16,160
that which we are budgeting to bring

1314
01:01:12,480 --> 01:01:22,119
into reserves. So um that also makes up

1315
01:01:16,160 --> 01:01:22,119
part of that 355,000 you see there.

1316
01:01:23,280 --> 01:01:28,640
Uh so that covers the revenue side. Uh

1317
01:01:25,839 --> 01:01:30,480
when we look at expenses uh you know the

1318
01:01:28,640 --> 01:01:32,160
first you know the first and biggest

1319
01:01:30,480 --> 01:01:36,720
item there is salaries, wages and

1320
01:01:32,160 --> 01:01:40,799
benefits. So um the 2025 we budgeted 8.5

1321
01:01:36,720 --> 01:01:44,480
million. Um and it came in at two 8.7.

1322
01:01:40,799 --> 01:01:47,119
So just 164,000 over. Um now there are a

1323
01:01:44,480 --> 01:01:51,040
lot of you know offsetting amounts here.

1324
01:01:47,119 --> 01:01:53,359
There were staff um a lot of staffing

1325
01:01:51,040 --> 01:01:56,240
changes. is there was also there were

1326
01:01:53,359 --> 01:01:58,240
some uh

1327
01:01:56,240 --> 01:02:02,079
additions most of which were budgeted

1328
01:01:58,240 --> 01:02:05,359
for um

1329
01:02:02,079 --> 01:02:07,359
however that that that can be that that

1330
01:02:05,359 --> 01:02:08,480
number might also not be finalized as

1331
01:02:07,359 --> 01:02:11,119
well. So, I don't want to speak too much

1332
01:02:08,480 --> 01:02:14,079
on that. That that could be a a 2025

1333
01:02:11,119 --> 01:02:16,880
financial statement. Um

1334
01:02:14,079 --> 01:02:22,640
Jeff's financial statement uh discussion

1335
01:02:16,880 --> 01:02:25,200
item. Uh for 2026, what we've done is we

1336
01:02:22,640 --> 01:02:26,799
uh as I mentioned, we took the 2026 the

1337
01:02:25,200 --> 01:02:29,839
current employee list, the current

1338
01:02:26,799 --> 01:02:32,640
grids, the current um benefit rates, uh

1339
01:02:29,839 --> 01:02:34,400
all of the deductions, everything um and

1340
01:02:32,640 --> 01:02:37,280
calculated out from the ground up and

1341
01:02:34,400 --> 01:02:39,680
and just slot that in for 2026. The

1342
01:02:37,280 --> 01:02:41,200
increase from 2025 you can see is

1343
01:02:39,680 --> 01:02:43,839
360,000.

1344
01:02:41,200 --> 01:02:46,079
Now a big portion of to

1345
01:02:43,839 --> 01:02:49,520
uh the new collective agreement that was

1346
01:02:46,079 --> 01:02:55,280
signed. So that was a 3% increase um for

1347
01:02:49,520 --> 01:02:57,520
cost of living um as well as net uh

1348
01:02:55,280 --> 01:03:01,440
full-time equivalent addition. So net uh

1349
01:02:57,520 --> 01:03:03,440
so new um budget requests for new

1350
01:03:01,440 --> 01:03:05,520
staffing. So the assistant library would

1351
01:03:03,440 --> 01:03:08,720
be assistant librarian would be one of

1352
01:03:05,520 --> 01:03:12,640
those. Um there are a lot of offsetting

1353
01:03:08,720 --> 01:03:15,359
amounts in that as well. Um however the

1354
01:03:12,640 --> 01:03:19,280
net increase or the net impact is

1355
01:03:15,359 --> 01:03:23,920
360,000 and and from the first budget

1356
01:03:19,280 --> 01:03:26,640
meeting you know 240,000ish or 240ish

1357
01:03:23,920 --> 01:03:29,920
would be related to just basic uh cost

1358
01:03:26,640 --> 01:03:32,960
of living increases that were budgeted

1359
01:03:29,920 --> 01:03:35,960
or that needed to be budgeted in

1360
01:03:32,960 --> 01:03:35,960
um

1361
01:03:38,559 --> 01:03:42,880
contracted in general services in next

1362
01:03:41,119 --> 01:03:45,440
um now when I look at these items

1363
01:03:42,880 --> 01:03:47,200
sometimes I look at them separately uh

1364
01:03:45,440 --> 01:03:49,599
included in contract and general

1365
01:03:47,200 --> 01:03:52,720
services is you know the cost of our CMP

1366
01:03:49,599 --> 01:03:54,480
which is 2.6 6 million right now um

1367
01:03:52,720 --> 01:03:57,440
budgeted in there. So that's included in

1368
01:03:54,480 --> 01:03:59,280
that 6.5. Uh materials, goods, and

1369
01:03:57,440 --> 01:04:02,079
supplies would be, you know, include

1370
01:03:59,280 --> 01:04:03,599
like your water purchases, right? Um so

1371
01:04:02,079 --> 01:04:05,760
we kind of look at it a few different

1372
01:04:03,599 --> 01:04:07,760
ways. We look at it as a whole. We back

1373
01:04:05,760 --> 01:04:11,440
out some of those items that are based

1374
01:04:07,760 --> 01:04:13,599
on agreements um uh costs that, you

1375
01:04:11,440 --> 01:04:16,160
know, really departments have no control

1376
01:04:13,599 --> 01:04:19,839
over in a sense. uh just because you

1377
01:04:16,160 --> 01:04:21,599
know recycling, garbage, um all of those

1378
01:04:19,839 --> 01:04:23,359
fees, tipping fees come out of

1379
01:04:21,599 --> 01:04:25,200
materials, goods and supplies as well.

1380
01:04:23,359 --> 01:04:27,680
So when we back that all out, you know,

1381
01:04:25,200 --> 01:04:29,119
you get a number close to 3.5 million

1382
01:04:27,680 --> 01:04:30,640
and that would kind of be like your

1383
01:04:29,119 --> 01:04:32,640
discretionary

1384
01:04:30,640 --> 01:04:35,119
um what the departments have across the

1385
01:04:32,640 --> 01:04:36,480
organization to spend on contract and

1386
01:04:35,119 --> 01:04:38,559
general services and materials, goods

1387
01:04:36,480 --> 01:04:40,960
and supplies. The rest of the line items

1388
01:04:38,559 --> 01:04:44,240
here below that are are really those

1389
01:04:40,960 --> 01:04:47,920
items that I did spend a lot of time on

1390
01:04:44,240 --> 01:04:50,160
because those are those are items that

1391
01:04:47,920 --> 01:04:52,319
um

1392
01:04:50,160 --> 01:04:55,039
you know for example debenture payments

1393
01:04:52,319 --> 01:04:58,079
you can you can easily uh project out

1394
01:04:55,039 --> 01:05:00,000
what your debenture payments and your uh

1395
01:04:58,079 --> 01:05:01,839
financing costs are based on what your

1396
01:05:00,000 --> 01:05:04,400
current debentures are and expected

1397
01:05:01,839 --> 01:05:07,119
dementures are going to be. So those

1398
01:05:04,400 --> 01:05:09,520
numbers are pretty um

1399
01:05:07,119 --> 01:05:11,039
uh and also you know there is no

1400
01:05:09,520 --> 01:05:12,640
discretionary

1401
01:05:11,039 --> 01:05:13,839
um

1402
01:05:12,640 --> 01:05:16,720
you know payments that come out of

1403
01:05:13,839 --> 01:05:18,319
there. So as long as uh we don't add new

1404
01:05:16,720 --> 01:05:21,280
debentures or choose to pay off

1405
01:05:18,319 --> 01:05:24,720
debentures early like those numbers are

1406
01:05:21,280 --> 01:05:26,720
um fairly easy to project out into 27

1407
01:05:24,720 --> 01:05:29,440
and 28.

1408
01:05:26,720 --> 01:05:31,599
Um

1409
01:05:29,440 --> 01:05:35,760
but back to

1410
01:05:31,599 --> 01:05:40,079
uh contracted services. Um so 2025 we

1411
01:05:35,760 --> 01:05:42,640
had budgeted uh I believe it was 2.365

1412
01:05:40,079 --> 01:05:46,240
million for RCMP. It actually came in

1413
01:05:42,640 --> 01:05:49,440
closer to 2.5 uh or roughly 170,000

1414
01:05:46,240 --> 01:05:53,760
higher than expected. Um, I did just

1415
01:05:49,440 --> 01:05:57,119
submit the RCMP report today um, for our

1416
01:05:53,760 --> 01:05:59,599
continued funding um, through the equity

1417
01:05:57,119 --> 01:06:01,440
uh, grant provided by the province. Um,

1418
01:05:59,599 --> 01:06:04,319
so that that amount is kind of fixed at

1419
01:06:01,440 --> 01:06:05,839
550,000 for 2026 anyways. Um, but that

1420
01:06:04,319 --> 01:06:07,680
is

1421
01:06:05,839 --> 01:06:10,400
um,

1422
01:06:07,680 --> 01:06:14,480
and then I used the forecast provided by

1423
01:06:10,400 --> 01:06:18,760
RCMP to develop uh,

1424
01:06:14,480 --> 01:06:18,760
those expenses out to

1425
01:06:20,079 --> 01:06:22,880
We have councelor Chapman has a

1426
01:06:21,839 --> 01:06:23,200
question.

1427
01:06:22,880 --> 01:06:25,599
» Yeah.

1428
01:06:23,200 --> 01:06:28,640
» Yeah. Thank you, Mayor. Tim, just two

1429
01:06:25,599 --> 01:06:34,240
questions. One on regard the RCMP

1430
01:06:28,640 --> 01:06:37,039
contract. Um we have no uh um

1431
01:06:34,240 --> 01:06:39,599
control over the numbers over the um

1432
01:06:37,039 --> 01:06:42,400
over their requisition

1433
01:06:39,599 --> 01:06:44,799
uh for so and I see that that number is

1434
01:06:42,400 --> 01:06:47,280
going up by approximately 100,000 every

1435
01:06:44,799 --> 01:06:50,240
year. So, um, obviously that's something

1436
01:06:47,280 --> 01:06:52,799
we have no control over just for for

1437
01:06:50,240 --> 01:06:55,280
council's interest. Um, the second thing

1438
01:06:52,799 --> 01:06:58,319
I wanted to point out, uh, regarding

1439
01:06:55,280 --> 01:07:00,319
debentures, um, you and your team would

1440
01:06:58,319 --> 01:07:04,640
be able to get have a really good handle

1441
01:07:00,319 --> 01:07:06,319
moving forward as to, um, paying off

1442
01:07:04,640 --> 01:07:08,160
some of those debentures sooner than

1443
01:07:06,319 --> 01:07:09,680
later. uh considering some of the

1444
01:07:08,160 --> 01:07:11,920
interest rates that might be out there

1445
01:07:09,680 --> 01:07:13,920
or or if they're locked in, I guess you

1446
01:07:11,920 --> 01:07:15,200
have no control, but you would have a

1447
01:07:13,920 --> 01:07:18,121
pretty good handle on how those

1448
01:07:15,200 --> 01:07:21,440
debentures could be paid off.

1449
01:07:18,121 --> 01:07:23,760
[snorts] Uh yes. So, uh we the nice

1450
01:07:21,440 --> 01:07:26,079
thing is last year uh the previous CFO

1451
01:07:23,760 --> 01:07:28,000
had had

1452
01:07:26,079 --> 01:07:30,079
um

1453
01:07:28,000 --> 01:07:32,559
arranged to have a number of debentures

1454
01:07:30,079 --> 01:07:35,200
paid off maybe one or two years early.

1455
01:07:32,559 --> 01:07:37,680
Um, now typically if you repay a

1456
01:07:35,200 --> 01:07:39,680
dementure early, there are penalties to

1457
01:07:37,680 --> 01:07:42,000
do so. However, if they're sitting at

1458
01:07:39,680 --> 01:07:44,079
higher interest rates and you have, you

1459
01:07:42,000 --> 01:07:45,760
know, you're projecting more uh

1460
01:07:44,079 --> 01:07:47,839
additional dementures down the line at

1461
01:07:45,760 --> 01:07:49,839
better rates, sometimes it is a better

1462
01:07:47,839 --> 01:07:50,640
decision to pay those off early. So,

1463
01:07:49,839 --> 01:07:52,240
yes. Yeah.

1464
01:07:50,640 --> 01:07:54,319
» Thank you.

1465
01:07:52,240 --> 01:07:56,960
» And then regarding the RCMP costs,

1466
01:07:54,319 --> 01:07:59,520
you're correct. We we have no say over,

1467
01:07:56,960 --> 01:08:03,200
you know, if they implement new body

1468
01:07:59,520 --> 01:08:05,440
camera system or EV for, I don't know,

1469
01:08:03,200 --> 01:08:09,440
across the board, that type of thing.

1470
01:08:05,440 --> 01:08:11,520
Um, I think we we do uh we can set the

1471
01:08:09,440 --> 01:08:13,599
number of established positions. Um

1472
01:08:11,520 --> 01:08:16,159
however you'll see in this graph here

1473
01:08:13,599 --> 01:08:20,080
what I've assumed for the budget for 26

1474
01:08:16,159 --> 01:08:23,040
27 and 28 is um you know after looking

1475
01:08:20,080 --> 01:08:26,000
at prior years and the utilization net

1476
01:08:23,040 --> 01:08:30,799
member utilization um it's kind of

1477
01:08:26,000 --> 01:08:32,560
hovered between 80 um 80 to 90ish% so

1478
01:08:30,799 --> 01:08:35,839
those are the numbers that I used. I

1479
01:08:32,560 --> 01:08:37,759
didn't want to go too far lower um just

1480
01:08:35,839 --> 01:08:40,239
because we uh I think we have been

1481
01:08:37,759 --> 01:08:42,560
burned in the past. Uh

1482
01:08:40,239 --> 01:08:45,839
and as well there is um we received a

1483
01:08:42,560 --> 01:08:48,719
letter uh from the RCMP uh regarding a 3

1484
01:08:45,839 --> 01:08:51,679
and a half% projected retro uh that

1485
01:08:48,719 --> 01:08:53,440
would go back to April 1st of 2025. So

1486
01:08:51,679 --> 01:08:56,239
there is a there is an additional amount

1487
01:08:53,440 --> 01:08:58,400
for 2026 for RCMP to to sort of cover

1488
01:08:56,239 --> 01:09:01,600
that and as well any adjustments that

1489
01:08:58,400 --> 01:09:04,000
might come out of um because I've

1490
01:09:01,600 --> 01:09:07,199
noticed every period the the forecast

1491
01:09:04,000 --> 01:09:10,199
changes just a little bit. So, um it's

1492
01:09:07,199 --> 01:09:10,199
yeah

1493
01:09:14,640 --> 01:09:21,920
um

1494
01:09:17,440 --> 01:09:25,040
so that was RCMP ERP transition. Um

1495
01:09:21,920 --> 01:09:28,080
we paid the first 75,000 implementation

1496
01:09:25,040 --> 01:09:30,640
charge in 2025. Um the second half of

1497
01:09:28,080 --> 01:09:34,159
that will be due in 2026.

1498
01:09:30,640 --> 01:09:36,880
Um and but like I mentioned before that

1499
01:09:34,159 --> 01:09:40,799
is an amount that we do have uh reserves

1500
01:09:36,880 --> 01:09:44,799
for al so that's over here. Um uh so

1501
01:09:40,799 --> 01:09:48,159
included in that 355 is 75,000 for one

1502
01:09:44,799 --> 01:09:50,799
time implementation or the last half of

1503
01:09:48,159 --> 01:09:54,640
that implementation as well as 50,000

1504
01:09:50,799 --> 01:09:56,400
for um the sort of you know the period

1505
01:09:54,640 --> 01:09:58,800
of time where you need to pay for both

1506
01:09:56,400 --> 01:10:00,480
systems. So that's for um our old

1507
01:09:58,800 --> 01:10:03,120
system.

1508
01:10:00,480 --> 01:10:05,920
Um so there's about 125,000 from

1509
01:10:03,120 --> 01:10:09,760
reserves out of that 355 that is related

1510
01:10:05,920 --> 01:10:12,159
to um the transition of accounting but

1511
01:10:09,760 --> 01:10:16,120
that was you know forecasted out by the

1512
01:10:12,159 --> 01:10:16,120
previous CFO in 2024.

1513
01:10:21,920 --> 01:10:27,440
Now, there are other professional

1514
01:10:23,760 --> 01:10:30,000
contracted services that increase due to

1515
01:10:27,440 --> 01:10:31,840
um collective agreement bargaining. Uh I

1516
01:10:30,000 --> 01:10:35,120
made sure not to include those costs

1517
01:10:31,840 --> 01:10:37,760
when we looked at budgeting in for 2026.

1518
01:10:35,120 --> 01:10:43,120
So therefore, uh you see the increase

1519
01:10:37,760 --> 01:10:45,920
from 25 to 26 is 6% or 373,000.

1520
01:10:43,120 --> 01:10:48,239
Uh now the big portion of that is as I

1521
01:10:45,920 --> 01:10:50,400
just showed you in the previous chart um

1522
01:10:48,239 --> 01:10:54,239
it's the RCMP

1523
01:10:50,400 --> 01:10:57,760
um increase uh we're projecting 266 that

1524
01:10:54,239 --> 01:10:59,679
includes the 57,000 that I've budgeted

1525
01:10:57,760 --> 01:11:05,360
for the retroactive pay of 3 and a

1526
01:10:59,679 --> 01:11:07,840
half%. Um the remaining 106,000

1527
01:11:05,360 --> 01:11:10,880
uh would be due to the revival of the

1528
01:11:07,840 --> 01:11:14,400
public safety department. uh the 60,000

1529
01:11:10,880 --> 01:11:17,440
for the uh downtown study and then there

1530
01:11:14,400 --> 01:11:19,040
were some other minor changes in new

1531
01:11:17,440 --> 01:11:22,000
budget requests. For example, one of

1532
01:11:19,040 --> 01:11:25,199
them would be uh in police there's a

1533
01:11:22,000 --> 01:11:28,640
increase from 10,000 to 17,500. That's

1534
01:11:25,199 --> 01:11:32,280
the citizens on patrol um covering the

1535
01:11:28,640 --> 01:11:32,280
vehicle maintenance costs

1536
01:11:33,600 --> 01:11:40,400
um for materials, goods and supplies.

1537
01:11:37,520 --> 01:11:43,360
uh when we look at 25 actual or

1538
01:11:40,400 --> 01:11:45,440
unodudited actual to 2025 budgeted the

1539
01:11:43,360 --> 01:11:47,520
difference there was mainly due to uh

1540
01:11:45,440 --> 01:11:49,440
water consumption was higher than

1541
01:11:47,520 --> 01:11:52,800
estimated I believe there were a couple

1542
01:11:49,440 --> 01:11:55,120
of main breaks that were were unexpected

1543
01:11:52,800 --> 01:11:57,600
um and I believe they're sort of in the

1544
01:11:55,120 --> 01:12:00,320
similar area but those were all offset

1545
01:11:57,600 --> 01:12:01,760
by uh you know a lower operation spend

1546
01:12:00,320 --> 01:12:05,920
especially due to a lot of the

1547
01:12:01,760 --> 01:12:09,600
uncertainties in um 2025 in the tail end

1548
01:12:05,920 --> 01:12:12,960
of 2025 there. Um but when we budget for

1549
01:12:09,600 --> 01:12:15,840
2026 we there is an increase of 15% and

1550
01:12:12,960 --> 01:12:18,080
that is mainly due to um that would be

1551
01:12:15,840 --> 01:12:21,440
for the water consumption.

1552
01:12:18,080 --> 01:12:24,159
So there you know 673

1553
01:12:21,440 --> 01:12:27,360
uh increase in the revenue side 640,000

1554
01:12:24,159 --> 01:12:29,679
increase on the on the expense side as

1555
01:12:27,360 --> 01:12:31,920
well. You need to factor in that each

1556
01:12:29,679 --> 01:12:36,080
facility also uses water as well. So

1557
01:12:31,920 --> 01:12:38,800
those need to go up. Um,

1558
01:12:36,080 --> 01:12:41,040
and so there, uh, as I mentioned

1559
01:12:38,800 --> 01:12:42,960
earlier, we did go through with each

1560
01:12:41,040 --> 01:12:45,199
department, went through line by line,

1561
01:12:42,960 --> 01:12:48,159
looked at the past 5 years, um, looked

1562
01:12:45,199 --> 01:12:52,159
at areas where we could possibly, um,

1563
01:12:48,159 --> 01:12:54,159
reallocate or uh, maybe just based on

1564
01:12:52,159 --> 01:12:56,239
historical trends, we we don't need that

1565
01:12:54,159 --> 01:12:59,920
budget allocation there. This is one of

1566
01:12:56,239 --> 01:13:04,000
those areas where um we were able to

1567
01:12:59,920 --> 01:13:07,280
make those um

1568
01:13:04,000 --> 01:13:10,000
uh to get the 2026 to 28 uh budget

1569
01:13:07,280 --> 01:13:12,159
balanced.

1570
01:13:10,000 --> 01:13:14,800
Uh next item, bank charge and interest.

1571
01:13:12,159 --> 01:13:16,880
This one is it's a very small item but

1572
01:13:14,800 --> 01:13:20,719
it grows it goes up by significant

1573
01:13:16,880 --> 01:13:22,640
amount. Um this is just bank charges and

1574
01:13:20,719 --> 01:13:26,800
interest. So that relates to our debit

1575
01:13:22,640 --> 01:13:29,920
terminals, our um authorized.net online

1576
01:13:26,800 --> 01:13:32,000
uh payment portal. Um there are fees

1577
01:13:29,920 --> 01:13:33,840
associated with accepting credit card

1578
01:13:32,000 --> 01:13:35,600
transactions. Uh just so council is

1579
01:13:33,840 --> 01:13:38,480
aware, we do not allow credit card

1580
01:13:35,600 --> 01:13:41,440
transactions at at the office. So we do

1581
01:13:38,480 --> 01:13:44,239
not accept credit cards for uh taxes,

1582
01:13:41,440 --> 01:13:46,159
utilities, uh business licenses, uh

1583
01:13:44,239 --> 01:13:48,800
development permits unless they choose

1584
01:13:46,159 --> 01:13:51,199
to pay online through our website uh

1585
01:13:48,800 --> 01:13:53,040
where we use Pay Simply. But pay simply

1586
01:13:51,199 --> 01:13:56,719
adds on and an administrative fee to

1587
01:13:53,040 --> 01:14:00,239
cover that on their end. Um and we just

1588
01:13:56,719 --> 01:14:02,880
receive the payment. Um however uh

1589
01:14:00,239 --> 01:14:05,120
recreation fees uh they can be paid

1590
01:14:02,880 --> 01:14:09,360
online through credit card and and those

1591
01:14:05,120 --> 01:14:11,280
are you know uh you know we should have

1592
01:14:09,360 --> 01:14:13,600
well this is one of those items where it

1593
01:14:11,280 --> 01:14:16,800
is a smaller item but we should try and

1594
01:14:13,600 --> 01:14:19,760
reflect for actual what we actually are

1595
01:14:16,800 --> 01:14:23,199
seeing um as far as you know transaction

1596
01:14:19,760 --> 01:14:28,719
volumes. Um, and so you'll see that for

1597
01:14:23,199 --> 01:14:30,880
26, we've just allocated 25,000 there.

1598
01:14:28,719 --> 01:14:32,480
Uh, principal debt repayments, uh, I

1599
01:14:30,880 --> 01:14:35,920
don't think I need to go into that any

1600
01:14:32,480 --> 01:14:38,159
deeper. Um, I there's no changes since

1601
01:14:35,920 --> 01:14:39,840
the first operating budget presentation

1602
01:14:38,159 --> 01:14:41,440
where we went through the list of

1603
01:14:39,840 --> 01:14:46,400
current deentures and the ones coming

1604
01:14:41,440 --> 01:14:49,679
online in 2026. Um this

1605
01:14:46,400 --> 01:14:51,920
uh this does include the like I said the

1606
01:14:49,679 --> 01:14:54,640
financing costs for the water rights

1607
01:14:51,920 --> 01:14:57,920
purchase that we're projecting. Um I

1608
01:14:54,640 --> 01:15:02,239
believe in the first in 2026 I budgeted

1609
01:14:57,920 --> 01:15:05,280
60,000 and then in 2027 uh 75,000 just

1610
01:15:02,239 --> 01:15:07,600
to make sure that u just because this

1611
01:15:05,280 --> 01:15:09,440
isn't a dementia that we can get through

1612
01:15:07,600 --> 01:15:12,239
the province. It has to be a dementia

1613
01:15:09,440 --> 01:15:14,640
that we get through um like a major bank

1614
01:15:12,239 --> 01:15:17,600
for example. So, we might not get the

1615
01:15:14,640 --> 01:15:21,520
types of rates that we could at um

1616
01:15:17,600 --> 01:15:25,679
through the loans to local authorities.

1617
01:15:21,520 --> 01:15:27,760
Um other expenses, uh now this includes

1618
01:15:25,679 --> 01:15:29,600
tax write-offs. Um that would be for

1619
01:15:27,760 --> 01:15:33,600
volunteer firefighters as well as for

1620
01:15:29,600 --> 01:15:37,120
the tax incentive program. Um, now this

1621
01:15:33,600 --> 01:15:39,679
you can see the 2025 actual uh will we

1622
01:15:37,120 --> 01:15:41,360
will only be writing off 550,000 and and

1623
01:15:39,679 --> 01:15:44,159
part of that is because we received a

1624
01:15:41,360 --> 01:15:46,880
pay uh payment in advance of taxes

1625
01:15:44,159 --> 01:15:48,800
outside of that incentive program. Um

1626
01:15:46,880 --> 01:15:52,719
but until that 2025 year end is

1627
01:15:48,800 --> 01:15:57,400
finalized. We won't um yeah we won't be

1628
01:15:52,719 --> 01:15:57,400
able to see what what um

1629
01:16:00,480 --> 01:16:06,560
um but the reason why that number is

1630
01:16:03,280 --> 01:16:08,880
increasing for 2026 is due to just the

1631
01:16:06,560 --> 01:16:10,719
inflation. So as I mentioned earlier for

1632
01:16:08,880 --> 01:16:14,000
non-residential portion our

1633
01:16:10,719 --> 01:16:16,239
non-residential taxes we we don't factor

1634
01:16:14,000 --> 01:16:19,920
out inflation in calculating the mail

1635
01:16:16,239 --> 01:16:21,600
rate uh when we keep it at 10 which is

1636
01:16:19,920 --> 01:16:23,360
um you know half a left bridge for

1637
01:16:21,600 --> 01:16:24,960
example.

1638
01:16:23,360 --> 01:16:27,840
Um

1639
01:16:24,960 --> 01:16:29,679
so that's the only change in in was just

1640
01:16:27,840 --> 01:16:33,280
based on the incentive program those

1641
01:16:29,679 --> 01:16:35,679
properties going up in value.

1642
01:16:33,280 --> 01:16:37,760
Uh as far as the next line item

1643
01:16:35,679 --> 01:16:39,360
government transfers expense. Now, this

1644
01:16:37,760 --> 01:16:41,840
is going to be transfers that the town

1645
01:16:39,360 --> 01:16:44,719
of Coldell makes to other organizations,

1646
01:16:41,840 --> 01:16:48,520
other municipalities. Uh, one of the

1647
01:16:44,719 --> 01:16:48,520
reasons for the

1648
01:16:50,000 --> 01:16:57,120
um overbudget. Um, we budgeted 4.6 and

1649
01:16:55,040 --> 01:17:00,159
came in at 4.8671.

1650
01:16:57,120 --> 01:17:03,760
Major item there is the 205,000 for the

1651
01:17:00,159 --> 01:17:06,080
horsefly spillway. Um, that was an item

1652
01:17:03,760 --> 01:17:08,800
that came up kind of midway through the

1653
01:17:06,080 --> 01:17:11,679
year. um council probably remembers um

1654
01:17:08,800 --> 01:17:14,159
that that had to come out of uh

1655
01:17:11,679 --> 01:17:14,719
reserves, but it's a transfer that um we

1656
01:17:14,159 --> 01:17:17,679
made [clears throat]

1657
01:17:14,719 --> 01:17:20,239
and that's where it hit the hit the

1658
01:17:17,679 --> 01:17:25,280
expenses.

1659
01:17:20,239 --> 01:17:27,600
Um as far as the 2026 budget, um as I

1660
01:17:25,280 --> 01:17:29,360
mentioned earlier, I just we kept

1661
01:17:27,600 --> 01:17:31,679
provincial education and green acres

1662
01:17:29,360 --> 01:17:34,640
requisition mill rates the same as they

1663
01:17:31,679 --> 01:17:36,320
were in 2025. and we can revisit that uh

1664
01:17:34,640 --> 01:17:39,840
in the spring with the property tax

1665
01:17:36,320 --> 01:17:42,400
bylaw. Um although I did factor in for

1666
01:17:39,840 --> 01:17:44,080
the growth right so if we if we are

1667
01:17:42,400 --> 01:17:46,159
expecting growth on the tax side we

1668
01:17:44,080 --> 01:17:50,560
should also expect a growth on the

1669
01:17:46,159 --> 01:17:52,239
requisition side um so I just have a

1670
01:17:50,560 --> 01:17:56,239
small note there you know decreasing the

1671
01:17:52,239 --> 01:18:00,400
residential mill rates uh you know if

1672
01:17:56,239 --> 01:18:02,320
requisitions go up you'll start uh

1673
01:18:00,400 --> 01:18:05,199
you'll start seeing less taxes available

1674
01:18:02,320 --> 01:18:06,960
for municipal purposes. Uh and then the

1675
01:18:05,199 --> 01:18:09,120
last line there is transfers to

1676
01:18:06,960 --> 01:18:11,440
reserves. Now this is where you know I

1677
01:18:09,120 --> 01:18:14,400
kept a close eye on and this is the last

1678
01:18:11,440 --> 01:18:17,360
area I would touch um when it came to

1679
01:18:14,400 --> 01:18:20,480
preparing the 2026 to 2028 budget

1680
01:18:17,360 --> 01:18:22,960
because this line item includes what we

1681
01:18:20,480 --> 01:18:25,520
budget for reserves at the end of the

1682
01:18:22,960 --> 01:18:29,120
year for capital future capital uh

1683
01:18:25,520 --> 01:18:32,159
current capital projects um and also for

1684
01:18:29,120 --> 01:18:34,560
operating. So that 3 point uh what that

1685
01:18:32,159 --> 01:18:36,800
3 million isn't all transfers to capital

1686
01:18:34,560 --> 01:18:39,920
reserves as I mentioned we put money

1687
01:18:36,800 --> 01:18:41,600
away for ongoing programs as well as for

1688
01:18:39,920 --> 01:18:46,480
that also includes transfers to

1689
01:18:41,600 --> 01:18:51,120
operating reserves for future years. Um

1690
01:18:46,480 --> 01:18:53,440
so with that um we get to uh bottom

1691
01:18:51,120 --> 01:18:58,560
figure which is balanced without relying

1692
01:18:53,440 --> 01:19:02,239
on any tax increases for residential

1693
01:18:58,560 --> 01:19:03,760
um and factoring in growth, making

1694
01:19:02,239 --> 01:19:06,080
adjustments across the board for

1695
01:19:03,760 --> 01:19:08,800
salaries and wages. um making certain

1696
01:19:06,080 --> 01:19:11,360
cuts in areas uh where where they might

1697
01:19:08,800 --> 01:19:14,239
not be needed, but then also increasing

1698
01:19:11,360 --> 01:19:17,199
where we know for a fact that we need to

1699
01:19:14,239 --> 01:19:18,960
budget more. Um

1700
01:19:17,199 --> 01:19:21,520
you know, we've tried to capture as much

1701
01:19:18,960 --> 01:19:24,800
as possible. Um but uh you know,

1702
01:19:21,520 --> 01:19:28,800
budgeting isn't isn't a perfect science.

1703
01:19:24,800 --> 01:19:32,159
Um but I we are pretty comfortable with

1704
01:19:28,800 --> 01:19:36,000
presenting this budget that

1705
01:19:32,159 --> 01:19:38,320
uh is balanced without um a request for

1706
01:19:36,000 --> 01:19:41,920
a tax increase. Um and then and then

1707
01:19:38,320 --> 01:19:44,400
although 27 and 28 are balanced um a few

1708
01:19:41,920 --> 01:19:47,679
things I will note is that yes for some

1709
01:19:44,400 --> 01:19:52,960
revenue items we projected growth. So

1710
01:19:47,679 --> 01:19:57,840
taxes we projected 3.25% 3.25% 25%

1711
01:19:52,960 --> 01:20:01,520
uh utilities uh just sort of like a

1712
01:19:57,840 --> 01:20:03,760
I believe you know like a 3% maybe not

1713
01:20:01,520 --> 01:20:07,280
the same as the growth in tax but there

1714
01:20:03,760 --> 01:20:14,280
is a growth um factored in for rates

1715
01:20:07,280 --> 01:20:14,280
utilities and other uh fees. Um

1716
01:20:14,400 --> 01:20:20,400
and then license permits and fees um you

1717
01:20:17,679 --> 01:20:23,199
can see smaller increases there. uh

1718
01:20:20,400 --> 01:20:25,920
franchise fees. Um so this is one area

1719
01:20:23,199 --> 01:20:28,080
where I would say you should expect

1720
01:20:25,920 --> 01:20:31,040
growth. Um I just didn't budget those

1721
01:20:28,080 --> 01:20:32,640
in. But there are um like I said it is

1722
01:20:31,040 --> 01:20:34,480
balanced currently without that. And

1723
01:20:32,640 --> 01:20:37,440
then you'll see on the expense side not

1724
01:20:34,480 --> 01:20:40,480
everything goes up either. So um you

1725
01:20:37,440 --> 01:20:43,280
know at the end of the day um some of

1726
01:20:40,480 --> 01:20:46,480
these items will end up offsetting. So

1727
01:20:43,280 --> 01:20:48,960
if you uh just for

1728
01:20:46,480 --> 01:20:50,480
um for the sake of transparency, I

1729
01:20:48,960 --> 01:20:53,199
included

1730
01:20:50,480 --> 01:20:55,840
the line by line budgets for every

1731
01:20:53,199 --> 01:20:58,400
single department. Um just to kind of

1732
01:20:55,840 --> 01:21:00,560
show you where those allocation changes

1733
01:20:58,400 --> 01:21:03,120
were and where those smaller requests

1734
01:21:00,560 --> 01:21:04,880
come in. Um I tried to make a note on

1735
01:21:03,120 --> 01:21:07,199
each page

1736
01:21:04,880 --> 01:21:10,159
um just to show where the variances

1737
01:21:07,199 --> 01:21:12,400
occurred um year-over-year. And you

1738
01:21:10,159 --> 01:21:16,159
might notice if you look at one for

1739
01:21:12,400 --> 01:21:18,000
example, you might notice that um you

1740
01:21:16,159 --> 01:21:19,760
know the expense side doesn't really

1741
01:21:18,000 --> 01:21:21,600
change. So this is one of those items

1742
01:21:19,760 --> 01:21:25,280
where I just want council to be aware

1743
01:21:21,600 --> 01:21:28,560
for example um

1744
01:21:25,280 --> 01:21:30,880
for for revenue uh we increased where we

1745
01:21:28,560 --> 01:21:32,960
could but for certain expense items they

1746
01:21:30,880 --> 01:21:34,880
are the same year-over-year. Now, that

1747
01:21:32,960 --> 01:21:37,520
is because we do allow for a little bit

1748
01:21:34,880 --> 01:21:39,280
of flexibility within the budget for uh

1749
01:21:37,520 --> 01:21:44,239
you know, those unexpected things that

1750
01:21:39,280 --> 01:21:46,400
happened. Um after I looked at um like I

1751
01:21:44,239 --> 01:21:49,360
said, after I backed out all of the

1752
01:21:46,400 --> 01:21:51,520
organizationwide sort of fixed charges,

1753
01:21:49,360 --> 01:21:54,159
we were left with about 3.5 million of,

1754
01:21:51,520 --> 01:21:56,000
you know, your discretionary. Um if you

1755
01:21:54,159 --> 01:21:57,840
allow for about a little bit of

1756
01:21:56,000 --> 01:22:01,840
contingency, it was it was no more than

1757
01:21:57,840 --> 01:22:04,000
10%. Um, but within these items, you

1758
01:22:01,840 --> 01:22:06,719
know, it's only a matter of time before,

1759
01:22:04,000 --> 01:22:08,960
you know, $2,000 in 2025 will not get

1760
01:22:06,719 --> 01:22:12,480
you the same amount of stuff as in 20

1761
01:22:08,960 --> 01:22:13,840
Oh, sorry, that's 26. But, um, you know,

1762
01:22:12,480 --> 01:22:15,360
the same amount of money is not going to

1763
01:22:13,840 --> 01:22:18,480
get you the same things two years down

1764
01:22:15,360 --> 01:22:20,880
the road. Um, so just to be aware, a lot

1765
01:22:18,480 --> 01:22:26,840
of these discretionary items I did not

1766
01:22:20,880 --> 01:22:26,840
increase um by any factor. Um,

1767
01:22:27,280 --> 01:22:33,400
um,

1768
01:22:29,760 --> 01:22:33,400
so yeah, I

1769
01:22:39,199 --> 01:22:45,600
but uh certain expense items that I did

1770
01:22:41,760 --> 01:22:47,520
increase are wages. I I sort of based on

1771
01:22:45,600 --> 01:22:50,159
the department and the makeup of each

1772
01:22:47,520 --> 01:22:53,520
department I did do anywhere from a 1

1773
01:22:50,159 --> 01:22:56,560
and a half to a 3% or six actually one

1774
01:22:53,520 --> 01:22:59,920
and a half to possibly even a four or 5%

1775
01:22:56,560 --> 01:23:02,000
increase in wages just based on you know

1776
01:22:59,920 --> 01:23:05,840
are they mostly union staff are they

1777
01:23:02,000 --> 01:23:07,679
exempt are they um for example um you

1778
01:23:05,840 --> 01:23:10,000
know if a department is all exempt then

1779
01:23:07,679 --> 01:23:13,040
I would only increase it one and a half

1780
01:23:10,000 --> 01:23:16,800
uh% per year type

1781
01:23:13,040 --> 01:23:18,960
Uh for expenses, uh like I said, RCMP is

1782
01:23:16,800 --> 01:23:21,199
one of the big ones. I I've budgeted

1783
01:23:18,960 --> 01:23:24,639
that out to increase uh based on the

1784
01:23:21,199 --> 01:23:27,280
forecast that received. Um and as I

1785
01:23:24,639 --> 01:23:30,480
mentioned, you know, I did just um these

1786
01:23:27,280 --> 01:23:34,320
are the assumptions that I made for uh

1787
01:23:30,480 --> 01:23:36,719
net member uh utilization,

1788
01:23:34,320 --> 01:23:41,520
right? keeping it within that 80 to 90%

1789
01:23:36,719 --> 01:23:43,840
range um I think should should um be

1790
01:23:41,520 --> 01:23:46,320
safe.

1791
01:23:43,840 --> 01:23:48,880
Um couple of other slides here that I

1792
01:23:46,320 --> 01:23:50,560
wanted to mention. There was a $150,000

1793
01:23:48,880 --> 01:23:52,480
decrease in the emergency services

1794
01:23:50,560 --> 01:23:54,880
agreement. However, as you can see in

1795
01:23:52,480 --> 01:23:57,760
this chart, um you know, call volumes

1796
01:23:54,880 --> 01:24:00,159
aren't going to magically go down as

1797
01:23:57,760 --> 01:24:01,679
well at the same time. So there's added

1798
01:24:00,159 --> 01:24:04,080
pressure in that department to keep

1799
01:24:01,679 --> 01:24:06,719
things um to keep service levels

1800
01:24:04,080 --> 01:24:09,600
maintained. Um you know that is one of

1801
01:24:06,719 --> 01:24:10,480
the areas council can look at as well.

1802
01:24:09,600 --> 01:24:12,080
Um

1803
01:24:10,480 --> 01:24:14,000
» Avery has a question for you.

1804
01:24:12,080 --> 01:24:17,040
» Yeah, thanks Tim. And this question

1805
01:24:14,000 --> 01:24:19,440
could be for the the chief. Um so I

1806
01:24:17,040 --> 01:24:21,920
notice our medical calls keep going up

1807
01:24:19,440 --> 01:24:23,040
and up and up and up. Um years back the

1808
01:24:21,920 --> 01:24:25,120
province says that was their

1809
01:24:23,040 --> 01:24:28,080
responsibility. It seems like it's

1810
01:24:25,120 --> 01:24:29,840
falling back onto our rate payers again.

1811
01:24:28,080 --> 01:24:31,440
Uh, is there something we need to do as

1812
01:24:29,840 --> 01:24:36,040
council to start lobbying to get some

1813
01:24:31,440 --> 01:24:36,040
extra funding for this type of stuff?

1814
01:24:47,280 --> 01:24:50,719
Uh, thank you for the question,

1815
01:24:48,719 --> 01:24:54,159
Councelor Avery. Uh, yeah, we still see

1816
01:24:50,719 --> 01:24:56,639
our medical uh, call volumes going up.

1817
01:24:54,159 --> 01:24:59,199
Uh I would say that our our fire has

1818
01:24:56,639 --> 01:25:01,040
been going up as well. Uh it hasn't the

1819
01:24:59,199 --> 01:25:03,920
medical hasn't maybe climbed as

1820
01:25:01,040 --> 01:25:06,159
drastically as it was at one point. Um

1821
01:25:03,920 --> 01:25:09,280
but we are seeing that burden uh come

1822
01:25:06,159 --> 01:25:10,880
back again. Uh it'll be a statistic that

1823
01:25:09,280 --> 01:25:14,639
you guys will see in the year- end

1824
01:25:10,880 --> 01:25:18,800
report upcoming. But uh we did have um

1825
01:25:14,639 --> 01:25:20,880
35 code reds last year. Uh but this year

1826
01:25:18,800 --> 01:25:22,639
um

1827
01:25:20,880 --> 01:25:26,080
serve memory serves me right, we've

1828
01:25:22,639 --> 01:25:30,080
already had almost 15 uh in January and

1829
01:25:26,080 --> 01:25:33,120
February. Uh so uh we've seen a lot of

1830
01:25:30,080 --> 01:25:36,480
ambulances shut down throughout the uh

1831
01:25:33,120 --> 01:25:38,639
year this year so far and a lot of uh

1832
01:25:36,480 --> 01:25:41,199
knocking down ambulances to BLS. So are

1833
01:25:38,639 --> 01:25:43,760
ambulances covering other uh communities

1834
01:25:41,199 --> 01:25:46,480
in the last month or so. Uh so I think

1835
01:25:43,760 --> 01:25:50,239
there is uh that ability for more

1836
01:25:46,480 --> 01:25:52,320
lobbying either for more supports for um

1837
01:25:50,239 --> 01:25:55,120
fire departments because they do do uh

1838
01:25:52,320 --> 01:25:57,040
some of their direct financial supports

1839
01:25:55,120 --> 01:26:02,280
for us as well but it's a fairly small

1840
01:25:57,040 --> 01:26:02,280
amount uh what we do get out of that

1841
01:26:23,199 --> 01:26:28,320
Okay. Um,

1842
01:26:26,320 --> 01:26:31,199
okay. Some of the other slides that we

1843
01:26:28,320 --> 01:26:32,800
may not have touched on. Um, yeah, we

1844
01:26:31,199 --> 01:26:35,600
looked at the assessment growth,

1845
01:26:32,800 --> 01:26:39,040
residential, non-residential tax split.

1846
01:26:35,600 --> 01:26:41,760
Um, the current mill rates in 2025.

1847
01:26:39,040 --> 01:26:44,159
uh the changes potential changes to the

1848
01:26:41,760 --> 01:26:50,520
mill rate based on tax increases of 1 to

1849
01:26:44,159 --> 01:26:50,520
3% and the revenue impact. Um

1850
01:26:51,040 --> 01:26:55,920
and then the impact to the resident on

1851
01:26:53,360 --> 01:26:58,400
on the based on the value of property.

1852
01:26:55,920 --> 01:27:00,400
Uh we looked at the taxers balance. We

1853
01:26:58,400 --> 01:27:03,199
looked at some of the other factors that

1854
01:27:00,400 --> 01:27:06,960
may have hit residents in 2026 already

1855
01:27:03,199 --> 01:27:08,960
or are upcoming. Um, and then we've

1856
01:27:06,960 --> 01:27:11,199
talked about the budget approach, which

1857
01:27:08,960 --> 01:27:13,920
was very important to kind of explain

1858
01:27:11,199 --> 01:27:15,920
before we even went into the budget. So,

1859
01:27:13,920 --> 01:27:20,080
uh, we did that and now I'm on my final

1860
01:27:15,920 --> 01:27:23,920
slide. So, um, as I mentioned, uh, the

1861
01:27:20,080 --> 01:27:25,440
26 to 28, um, draft operating budget is

1862
01:27:23,920 --> 01:27:27,840
currently balanced without any plan

1863
01:27:25,440 --> 01:27:29,920
increases to the municipal portion of

1864
01:27:27,840 --> 01:27:32,239
residential taxes outside of growth. And

1865
01:27:29,920 --> 01:27:36,560
these are the growth assumptions used in

1866
01:27:32,239 --> 01:27:38,239
2026, 2027 and 2028. Uh where we used

1867
01:27:36,560 --> 01:27:42,639
4.35%,

1868
01:27:38,239 --> 01:27:44,800
3.25% and 3.25% for growth. Uh inflation

1869
01:27:42,639 --> 01:27:48,239
for residential assessment values in

1870
01:27:44,800 --> 01:27:50,190
2026 is estimated by the assessor to be

1871
01:27:48,239 --> 01:27:50,800
10.23%.

1872
01:27:50,190 --> 01:27:53,120
[clears throat]

1873
01:27:50,800 --> 01:27:55,120
Um the non-residential property

1874
01:27:53,120 --> 01:27:59,520
assessment growth is estimated at just

1875
01:27:55,120 --> 01:28:01,760
under 3% at 2.88 in 2026. Uh and then we

1876
01:27:59,520 --> 01:28:04,639
did not adjust the mill rate for

1877
01:28:01,760 --> 01:28:07,120
inflation of 9.3%.

1878
01:28:04,639 --> 01:28:09,760
Um there's no changes to the franchise

1879
01:28:07,120 --> 01:28:11,679
fees for 2026. We didn't project any

1880
01:28:09,760 --> 01:28:14,719
increases to the franchise fee rates for

1881
01:28:11,679 --> 01:28:18,639
gas or electricity. Um and then there is

1882
01:28:14,719 --> 01:28:20,719
that fees and rates bylaw that um

1883
01:28:18,639 --> 01:28:22,960
you know we can pass later but it it

1884
01:28:20,719 --> 01:28:24,320
won't have any well I don't I can't

1885
01:28:22,960 --> 01:28:28,960
assume there will be a significant

1886
01:28:24,320 --> 01:28:31,600
impact to um the draft operating budget.

1887
01:28:28,960 --> 01:28:34,320
Um however that is set to come back to

1888
01:28:31,600 --> 01:28:36,719
council at a later date.

1889
01:28:34,320 --> 01:28:38,800
Um

1890
01:28:36,719 --> 01:28:41,120
utility rates, we've increased them for

1891
01:28:38,800 --> 01:28:43,520
2026 across the board. And then for

1892
01:28:41,120 --> 01:28:47,840
consumption uh to take effect on April

1893
01:28:43,520 --> 01:28:50,400
1st for water and bulk sewer and at this

1894
01:28:47,840 --> 01:28:52,159
time there are no projected increases to

1895
01:28:50,400 --> 01:28:54,080
utility rates that are programmed into

1896
01:28:52,159 --> 01:28:56,320
the revenues and that budget that we've

1897
01:28:54,080 --> 01:28:58,880
seen there. So it's just simply growth.

1898
01:28:56,320 --> 01:29:02,639
We're just kind of being slightly more

1899
01:28:58,880 --> 01:29:04,320
aggressive in in growth. Um

1900
01:29:02,639 --> 01:29:06,320
and then as far as capital reserve

1901
01:29:04,320 --> 01:29:08,320
transfers, as I mentioned earlier, I

1902
01:29:06,320 --> 01:29:11,840
would like I would like to see some kind

1903
01:29:08,320 --> 01:29:14,719
of uh reserve strategy developed uh for

1904
01:29:11,840 --> 01:29:17,679
2027 and and as we move forward with

1905
01:29:14,719 --> 01:29:22,560
asset management. Um they do decrease

1906
01:29:17,679 --> 01:29:28,080
slightly um from 2026 through to 2028 by

1907
01:29:22,560 --> 01:29:32,560
about 165,000 or 5%. Um but again there

1908
01:29:28,080 --> 01:29:35,199
um you know next year well when we

1909
01:29:32,560 --> 01:29:37,760
budget for 2027 that will be in the fall

1910
01:29:35,199 --> 01:29:40,239
even by then even in the seven months

1911
01:29:37,760 --> 01:29:42,639
from now till then there we'll probably

1912
01:29:40,239 --> 01:29:45,679
have new assumptions new lots of things

1913
01:29:42,639 --> 01:29:48,320
will have probably changed so um that is

1914
01:29:45,679 --> 01:29:50,239
something that we can uh like I said I

1915
01:29:48,320 --> 01:29:52,239
we keep a close eye on we don't want to

1916
01:29:50,239 --> 01:29:55,440
see that amount decrease as we grow our

1917
01:29:52,239 --> 01:29:58,000
asset base is the

1918
01:29:55,440 --> 01:29:59,440
the story

1919
01:29:58,000 --> 01:30:03,520
» Has a question.

1920
01:29:59,440 --> 01:30:06,159
» Uh yeah, thank you, Mayor. Um Tim, um

1921
01:30:03,520 --> 01:30:08,719
the wreck levy, I know you haven't

1922
01:30:06,159 --> 01:30:11,679
mentioned it anywhere in here yet, but

1923
01:30:08,719 --> 01:30:16,239
you consider that to be a rate as a a

1924
01:30:11,679 --> 01:30:19,920
rate and fee or a tax or a levy.

1925
01:30:16,239 --> 01:30:22,719
» Uh I believe it's a special tax. Um, and

1926
01:30:19,920 --> 01:30:24,239
it it is included I believe in this

1927
01:30:22,719 --> 01:30:25,600
overall

1928
01:30:24,239 --> 01:30:27,600
uh I might have to

1929
01:30:25,600 --> 01:30:29,520
» Yeah, it is it you do show it in there

1930
01:30:27,600 --> 01:30:32,080
as a 2.14

1931
01:30:29,520 --> 01:30:34,000
I think increase which

1932
01:30:32,080 --> 01:30:36,320
» When I first read it I thought oh

1933
01:30:34,000 --> 01:30:39,760
there's an increase but I think you're

1934
01:30:36,320 --> 01:30:42,560
you're you're using the population or um

1935
01:30:39,760 --> 01:30:44,719
housing growth as the increase for the

1936
01:30:42,560 --> 01:30:45,920
levies. Am I correct on that?

1937
01:30:44,719 --> 01:30:47,440
» Yeah, that's correct. We're not

1938
01:30:45,920 --> 01:30:50,719
increasing, we're not setting to

1939
01:30:47,440 --> 01:30:52,719
increase the wreck levy uh rate. Um it's

1940
01:30:50,719 --> 01:30:54,800
just due to growth. We're just kind of

1941
01:30:52,719 --> 01:30:57,520
adjusting that number.

1942
01:30:54,800 --> 01:31:00,000
» Second question to you. Um with regards

1943
01:30:57,520 --> 01:31:03,040
to these arars, like that's over half a

1944
01:31:00,000 --> 01:31:06,560
million dollars, $560,000

1945
01:31:03,040 --> 01:31:09,280
a year. Are we able to collect 100% of

1946
01:31:06,560 --> 01:31:11,280
that or is that like it seems like that

1947
01:31:09,280 --> 01:31:15,120
number is pretty constant? Uh over half

1948
01:31:11,280 --> 01:31:17,760
a million every year. Uh yeah, so those

1949
01:31:15,120 --> 01:31:20,080
numbers came from our tax specialist. Um

1950
01:31:17,760 --> 01:31:22,480
she does keep a close eye on the rears.

1951
01:31:20,080 --> 01:31:24,159
Um there are certain MGA requirements.

1952
01:31:22,480 --> 01:31:26,000
Um

1953
01:31:24,159 --> 01:31:27,760
you know there are notices that need to

1954
01:31:26,000 --> 01:31:30,880
be done. There are certain steps you

1955
01:31:27,760 --> 01:31:33,360
have to take before you know an AR's

1956
01:31:30,880 --> 01:31:34,719
balance reaches 3 years and then you

1957
01:31:33,360 --> 01:31:36,719
know at the end of three years then

1958
01:31:34,719 --> 01:31:39,520
there's the tax sale process. So they're

1959
01:31:36,719 --> 01:31:41,840
they're um

1960
01:31:39,520 --> 01:31:43,360
from her side of things she does keep a

1961
01:31:41,840 --> 01:31:46,639
close eye on it and she does say that

1962
01:31:43,360 --> 01:31:49,120
the number of accounts in a rears

1963
01:31:46,639 --> 01:31:51,199
doesn't seem to grow doesn't seem to

1964
01:31:49,120 --> 01:31:53,520
change too significantly. So then the

1965
01:31:51,199 --> 01:31:57,360
the balance might grow but the number of

1966
01:31:53,520 --> 01:31:59,920
aars accounts um isn't um there's no

1967
01:31:57,360 --> 01:32:00,880
drastic increases in that regard.

1968
01:31:59,920 --> 01:32:04,388
» Okay. Thank you.

1969
01:32:00,880 --> 01:32:04,388
» Yeah. [snorts]

1970
01:32:07,120 --> 01:32:11,520
Um, so I guess a final note, keep in

1971
01:32:10,000 --> 01:32:14,000
mind that most of the expense slide

1972
01:32:11,520 --> 01:32:15,920
items, uh, except for the ones that we

1973
01:32:14,000 --> 01:32:17,920
really took a closer look at those

1974
01:32:15,920 --> 01:32:20,480
bigger items like salaries and wages,

1975
01:32:17,920 --> 01:32:24,239
RCMP, and some of our contractual

1976
01:32:20,480 --> 01:32:27,360
obligations. Um, we adjusted for those

1977
01:32:24,239 --> 01:32:29,440
for 27 and 28. Um, but the ones that

1978
01:32:27,360 --> 01:32:31,840
have not been adjusted for inflationary

1979
01:32:29,440 --> 01:32:34,320
year-over-year costs um are some of

1980
01:32:31,840 --> 01:32:36,080
those discretionary items. Um, but those

1981
01:32:34,320 --> 01:32:38,400
are those will be kind of related to

1982
01:32:36,080 --> 01:32:41,120
service levels. Um, you know, do you

1983
01:32:38,400 --> 01:32:43,440
reduce service levels as costs go up or

1984
01:32:41,120 --> 01:32:46,080
do you do you increase those? But

1985
01:32:43,440 --> 01:32:47,360
keeping in mind that ongoing expenses uh

1986
01:32:46,080 --> 01:32:49,199
are fund should be funded through

1987
01:32:47,360 --> 01:32:51,920
ongoing revenues. So either through new

1988
01:32:49,199 --> 01:32:56,320
growth or uh and not through surplus or

1989
01:32:51,920 --> 01:32:59,440
from reserves. Um

1990
01:32:56,320 --> 01:33:01,040
uh with that any future service level

1991
01:32:59,440 --> 01:33:03,520
enhancement requests, additional

1992
01:33:01,040 --> 01:33:05,440
operating expenses from you know the

1993
01:33:03,520 --> 01:33:08,800
construction or purchase of new capital

1994
01:33:05,440 --> 01:33:11,679
items uh insurance being one of them. Uh

1995
01:33:08,800 --> 01:33:14,000
or inflationary cost pressures uh will

1996
01:33:11,679 --> 01:33:16,480
need to be funded through an increase in

1997
01:33:14,000 --> 01:33:18,000
tax rates or fees. Uh so this is keeping

1998
01:33:16,480 --> 01:33:20,159
in line with that principled approach

1999
01:33:18,000 --> 01:33:21,840
that ongoing costs should be funded by

2000
01:33:20,159 --> 01:33:23,440
current revenues not surpluses or

2001
01:33:21,840 --> 01:33:26,560
reserves.

2002
01:33:23,440 --> 01:33:29,040
Um, now we do have another meeting

2003
01:33:26,560 --> 01:33:32,080
scheduled for Thursday, February 26th.

2004
01:33:29,040 --> 01:33:33,840
Um, maybe I'll

2005
01:33:32,080 --> 01:33:38,320
um

2006
01:33:33,840 --> 01:33:40,239
maybe I'll take a second here to um

2007
01:33:38,320 --> 01:33:42,000
kind of

2008
01:33:40,239 --> 01:33:44,719
see if there are any questions from

2009
01:33:42,000 --> 01:33:48,239
council on specific items. Um, I do have

2010
01:33:44,719 --> 01:33:50,400
all of my work here. I do have um these

2011
01:33:48,239 --> 01:33:53,520
individual departments and budget budget

2012
01:33:50,400 --> 01:33:55,280
line by budget line. Um if there's

2013
01:33:53,520 --> 01:33:57,920
anything

2014
01:33:55,280 --> 01:33:59,920
um you know if there any questions

2015
01:33:57,920 --> 01:34:00,880
» We're going to take a five minute

2016
01:33:59,920 --> 01:34:03,880
recess.

2017
01:34:00,880 --> 01:34:03,880
» Sure.

2018
01:42:25,280 --> 01:42:31,920
Thank you. We're have returned from our

2019
01:42:28,080 --> 01:42:34,719
break and

2020
01:42:31,920 --> 01:42:37,360
I'll open it up to our CFO one last

2021
01:42:34,719 --> 01:42:39,199
time. Do you have anything else to say

2022
01:42:37,360 --> 01:42:41,360
before I open it up to members of

2023
01:42:39,199 --> 01:42:43,520
council for question before we go into

2024
01:42:41,360 --> 01:42:46,320
close?

2025
01:42:43,520 --> 01:42:49,360
» Uh, no I don't. I think I' I've talked

2026
01:42:46,320 --> 01:42:50,800
fairly long.

2027
01:42:49,360 --> 01:42:51,360
» So I have nothing more to add. Thank

2028
01:42:50,800 --> 01:42:54,159
you.

2029
01:42:51,360 --> 01:42:58,560
» Okay. Thank you.

2030
01:42:54,159 --> 01:43:01,760
Any questions for our presenter?

2031
01:42:58,560 --> 01:43:03,760
Seeing none, [snorts]

2032
01:43:01,760 --> 01:43:07,199
I'm going to require a motion that

2033
01:43:03,760 --> 01:43:11,679
council move into close session at 6:43

2034
01:43:07,199 --> 01:43:14,000
p.m. in accordance with section 197-4-B

2035
01:43:11,679 --> 01:43:16,960
of the Municipal Government Act to

2036
01:43:14,000 --> 01:43:21,119
discuss matters exempt from disclosure

2037
01:43:16,960 --> 01:43:23,679
4. Section 19, disclosure harmful to the

2038
01:43:21,119 --> 01:43:26,880
business interests of a third party.

2039
01:43:23,679 --> 01:43:30,880
Section 20, disclosure harmful to

2040
01:43:26,880 --> 01:43:32,800
personal privacy. Section 30, disclosure

2041
01:43:30,880 --> 01:43:35,840
harmful to the economic and other

2042
01:43:32,800 --> 01:43:38,080
interests of a public body. Who cares to

2043
01:43:35,840 --> 01:43:40,480
make that motion?

2044
01:43:38,080 --> 01:43:44,440
Councelor Pickering?

2045
01:43:40,480 --> 01:43:44,440
I'll call for the vote.

2046
01:43:51,199 --> 01:43:55,880
And that vote is carried. Thank you.

2047
02:17:40,960 --> 02:17:47,679
Thank you. We're back in session again.

2048
02:17:44,080 --> 02:17:51,200
So, we just um finished our budget

2049
02:17:47,679 --> 02:17:55,359
deliberations and we had our chief

2050
02:17:51,200 --> 02:17:58,800
financial officer Tim Koba present. Tim,

2051
02:17:55,359 --> 02:18:02,399
great job on on that. Uh, I'm not sure

2052
02:17:58,800 --> 02:18:03,679
how you can stand doing your job when

2053
02:18:02,399 --> 02:18:05,840
you're looking at those spreadsheets,

2054
02:18:03,679 --> 02:18:08,559
but power to you for that. Appreciate

2055
02:18:05,840 --> 02:18:12,479
all the effort that your finance team

2056
02:18:08,559 --> 02:18:14,639
put into this. So, I'm looking for one

2057
02:18:12,479 --> 02:18:17,920
opportunity, one more opportunity for

2058
02:18:14,639 --> 02:18:21,519
everybody if they have any questions for

2059
02:18:17,920 --> 02:18:25,840
Tim before we look at our our motion

2060
02:18:21,519 --> 02:18:28,800
options for budget deliberations.

2061
02:18:25,840 --> 02:18:31,800
Councelor

2062
02:18:28,800 --> 02:18:31,800
Avery.

2063
02:18:32,319 --> 02:18:36,639
» Thank you, Mayor. Not a question. Um,

2064
02:18:34,479 --> 02:18:38,800
just a statement. Tim, thank you for all

2065
02:18:36,639 --> 02:18:41,280
your hard work. Ashley, thank you. Thank

2066
02:18:38,800 --> 02:18:44,479
the administration team. Uh, this was a

2067
02:18:41,280 --> 02:18:47,679
very clear, concise budget, exactly what

2068
02:18:44,479 --> 02:18:49,760
we asked for. Um, I'm very, very

2069
02:18:47,679 --> 02:18:51,679
impressed you had that you tore it all

2070
02:18:49,760 --> 02:18:54,960
down and built it back up again. Thank

2071
02:18:51,679 --> 02:18:57,760
you for all your hard work.

2072
02:18:54,960 --> 02:19:00,160
» Thank you. Well said, councelor Avery.

2073
02:18:57,760 --> 02:19:02,800
So, seeing no more questions, comments,

2074
02:19:00,160 --> 02:19:05,120
uh could I enter ask member of council

2075
02:19:02,800 --> 02:19:10,160
to entertain to make one of the motion

2076
02:19:05,120 --> 02:19:13,120
options that councelor Avery?

2077
02:19:10,160 --> 02:19:16,080
» Yes, mayor. I'll make a motion that we

2078
02:19:13,120 --> 02:19:18,800
accept the budget as presented with a 0%

2079
02:19:16,080 --> 02:19:21,920
uh tax increase.

2080
02:19:18,800 --> 02:19:23,920
» Thank you. There's a motion on the floor

2081
02:19:21,920 --> 02:19:25,679
by Councelor Avery. Any further

2082
02:19:23,920 --> 02:19:30,040
discussion?

2083
02:19:25,679 --> 02:19:30,040
Seeing none, I'll call for the vote.

2084
02:19:34,880 --> 02:19:40,319
And that is carried unanimously.

2085
02:19:38,856 --> 02:19:42,319
[laughter]

2086
02:19:40,319 --> 02:19:44,800
» Okay. Well, thank you again one more

2087
02:19:42,319 --> 02:19:47,599
time, Tim, for all that hard work. So,

2088
02:19:44,800 --> 02:19:50,000
that concludes the open portion of the

2089
02:19:47,599 --> 02:19:52,880
meeting. Uh we're going to return back

2090
02:19:50,000 --> 02:19:55,520
into closed. So, I will need a motion

2091
02:19:52,880 --> 02:19:57,359
that council move into close session at

2092
02:19:55,520 --> 02:20:02,319
7:20

2093
02:19:57,359 --> 02:20:04,640
p.m. in accordance with section 197-4-B

2094
02:20:02,319 --> 02:20:07,200
of the municipal government act to

2095
02:20:04,640 --> 02:20:11,200
discuss matters exempt from disclosure

2096
02:20:07,200 --> 02:20:13,120
for item 13.1 subject to section 19

2097
02:20:11,200 --> 02:20:16,000
disclosure harmful to the business

2098
02:20:13,120 --> 02:20:18,240
interests of a third party. Section 20,

2099
02:20:16,000 --> 02:20:20,720
personal privacy, and section 30,

2100
02:20:18,240 --> 02:20:22,880
disclosure harmful to the economic and

2101
02:20:20,720 --> 02:20:25,439
other interests of the public body. Who

2102
02:20:22,880 --> 02:20:27,920
cares to make that motion? Councelor

2103
02:20:25,439 --> 02:20:31,800
Reese makes that motion.

2104
02:20:27,920 --> 02:20:31,800
I'll call for the vote.

2105
02:20:35,760 --> 02:20:42,040
And that is carried. We'll take a

2106
02:20:38,479 --> 02:20:42,040
twominut break.