During the December 12 Council Meeting, Chestermere’s Official Administrator approved the 2024 Interim Operating Budget at approximately $56.5M.
These budgets will remain in place until a new council is elected and are in a position to approve the 2024 Operating Budget and 2024 Capital Budget.
The Budget has been balanced and basis for development of the Budget was a bottom—up approach commonly referred to as “zero-based budgeting”. The basis for the municipal tax revenue was consistent with how it has been modelled previously, using the prior year’s mill rate, current resident tax roll and the market assessment increase provided by the City’s appraiser. In using those principles, we balanced the budget without including additional municipal tax revenue through increasing the mill rate.The 2024 budget includes a $4.2M increase in operating expenses when compared to 2023.
Approval of an interim operating budget for 2024 is required to enable the City of Chestermere to continue to operate and perform it’s municipal responsibilities, as set out in the Municipal Government Act.
Administration is also seeking to continue and complete the 2023 capital projects that were approved by Council as part of the 2023-2027 Capital Plan. For clarity – these are ONLY projects that were started in 2023 and are a part of the carryover capital for 2024. A future capital plan will be brough forward for preliminary approval in 2024.
Click here to see the Request for Decision for the 2024 Interim Operating Budget
Click here to see the Request for Decision for the 2024 Interim Capital Budget
The 2024 Budget Presentations took place December 12, 2023.
Click here to watch the meeting.
CUI Update
An interim operating budget of approximately $17.6M was also approved for CUI during the December 12th meeting. The intention remains to dissolve this company and consolidate utilities into the City of Chestermere’s service umbrella. Resources are working on the accounting methodology, documentation, and verification to ensure the dissolution is done accurately and auditable under public accounting standards.
This budget proposes to maintain the current utility rate.
Click here to see the Request for Decision for the 2024 Interim CUI Operating Budget
CRCA Recreation Funding
As part of the December 12th Meeting, the Official Administrator also directed administration to set aside funds associated with the CRCA and the Chestermere Recreation Centre.
The administrator directed staff allocate $160,000 – the amount that was previously granted annually – to a specifically established reserve meant for the Chestermere Community Recreation Association. With funds upcoming in 2024, this fund will increase to approximately $320,000.
2024 Library Budget
Approximately $500,000 will be included in the City of Chestermere’s Interim Operating Budget to be allocated to the operation of the Chestermere Public Library. This is consistent with the funding provided in 2023. The library will also be given the opportunity to present their proposed budget in January of 2024.
Click here to see the Request for Decision for the 2024 Library Budget
Capital Project Update
The City of Chestermere’s Interim CAO has stipulated that all project work initiated by the former Council and/or CAO is to be halted, effective immediately.
As per the CAO’s direction, administration has reviewed Community, Growth & Infrastructure projects and at this time, has identified the following projects to be halted:
Recreational Facility
Entertainment District
Chestermere Blvd – Main Street Concepts
Chestermere Civic Centre