The Town of Banff passed its three-year operating budget and 10-year capital budget last Thursday (Dec. 18).
Council unanimously approved an operating budget of just over $33.1 million for 2015 and a capital budget with projects worth $19.8 million.
A municipal tax increase of 4.52 per cent is estimated over 2015. Council reduced or removed projects during its last finance committee meeting to lessen the total municipal tax, which axed 0.9 per cent from the previously estimated 5.4 per cent. It is estimated in 2016 the municipal tax rate is going to be at 3.4 per cent and, 1.94 per cent in ’17.
A motion to receive the 2015-24 capital reserve forecast as information was unanimously approved by council. For the end of 2015, the estimated capital reserve would be in a $3 million deficit position.
Administration doesn’t anticipate any “major cuts” to provincial capital funds in 2015. Mayor Karen Sorensen brought up the topic, “in times of shrinking provincial budgets.”
Before the capital budget vote, Councillor Ted Christensen mentioned the new long-term transportation planning, budgeted for $70,000 as he sees it as a “big concern” in the community.
“I want to reiterate council’s motion to have the public consultation well planned before … and be made available to the public as a board,” Christensen said.
Coun. Stavros Karlos said he expects action plans to come out of these studies and each of the studies since his council tenure have had tangible outcomes.
Karlos also said, in the operating budget, there were some service areas he “wasn’t comfortable with,” but that he would ultimately support the budget.
“I think we have to open up a very robust look at the budget … I believe we need a service review process in and of itself and consider the service areas and each of our own perspectives and again, I look forward to having this discussion next year,” Karlos said.
Economic concerns were brought forward by Christensen, where he cited the recent drop in oil prices, however, administration said a short-term change in oil won’t have an effect because when the price of oil drops, U.S. citizens become a “silver lining for the tourism industry” in the community.
Coun. Corrie DiManno was not present at the meeting.
New 2015 capital projects in Banff include: $35,000 for repairs at the Fox Street crosswalk; parking improvements on Bow Avenue, budgeted for $20,000; $55,000 in enhanced time limit parking enforcement; $25,000 in trail improvements; $50,000 towards traffic signal cameras and communication; $100,000 for a Central Park natural playground; $71,500 towards a Re-Use-It Centre; $48,000 will be budgeted to surprise corner railing replacement and $60,000 for scale bridge replacement.
