The budget is one of the most critical policy decisions Council makes each year. Careful budgeting and sound financial decisions mean better services for our residents and ensure taxpayers are getting the best value for their money.
Everything the County does has an associated cost. Whether it is a direct service such as enforcement, snow removal, and the labour and equipment for road maintenance; or an indirect cost such as supporting regional recreational and cultural facilities. Council and staff spend a great deal of time making sure careful financial decisions are aligned with taxpayer expectations.
County Council approved the 2024 capital and operating budgets that recognizes the issue of inflation facing our residents and businesses, while ensuring the expenses of maintaining and running Lacombe County are addressed. Council felt this budget will balance the reality of our current economic environment, without negatively impacting our ratepayers.
During the November 24, 2023 Budget Meeting, Lacombe County Council adopted the County’s 2024 operating and capital budgets. The 2024 Tax Rate Bylaw was approved at the April 11, 2024 Council meeting. For the year 2024, residential municipal property tax rates will see no increase, maintaining a steady rate, which aligns with the County's commitment to affordability and stability for its residents. On the other hand, farmland and non-residential municipal tax rates will experience a modest increase of 1%.
Final 2024 Budget - Expenses Final 2024 Budget - Revenue
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Annual Budget Process |
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Interim operating and capital budgets are approved each year in two stages:
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2024 Operating Budget |
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The $64,687,590, including requisitions of $14,114,660, operating budget is balanced and maintains existing service levels. Highlights of the operating budget include:
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2024 Capital Budget |
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The 2024 capital budget is $23,076,780, an increase of $2.75 million (13.53%) compared to 2023. Of the $23.08 million in capital spending in 2024, $14.66 million (63.51%) is sourced through funds set aside in prior years through the capital replacement plans, and $7.26 million (31.45%) is collected through current year’s tax dollars.
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