TAMRMS#: B06
5.1
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CAO Presentation of the Proposed Financial Plan and 2024 Budget
Presented by: William (Bill) Fletcher, Chief Administrative Officer
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RECOMMENDED MOTION(S)
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That the proposed City of St. Albert financial plan and 2024 budget be received as information and referred to the Committee of the Whole.
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PURPOSE OF REPORT
This report presents the Proposed Financial Plan and 2024 Budget for Council's review, deliberation, and consideration of approval.
BACKGROUND AND DISCUSSION
The Municipal Government Act (MGA) requires a Council to adopt operating and capital budgets each year. The City's business planning and budget process is a comprehensive undertaking that is guided by the Community Vision, Council's Strategic Plan and the Services and Service Levels Inventory, to help ensure the plan and budget reflect needs and priorities identified by the community.
Like other municipalities in Alberta, and indeed across Canada, we continue to face significant inflationary pressures and reduced provincial capital grant funding while adjusting to decreased revenue in transit and recreation, reflecting changes in resident's choices and lifestyles. As well, our city continues to grow both in terms of our population and expand geographically. St. Albert continues to be a desirable place to live, and this is a direct result of the excellent work Administration has done to bring Council's vision to life and our employees' dedication to delivering the services and programs upon which our residents rely.
The proposed 2024 budget focuses on maintaining the high standards expected for delivery of programs and services to the community, while responding to community growth. It emphasizes the need to invest in the future by enabling non-residential development, diversifying revenue and increasing connectivity throughout our city, to include growth areas. Our City remains dedicated to fiscal responsibility by constantly seeking opport...
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