BONNYVILLE - During their last regular council meeting on Nov. 28, Town of Bonnyville council scrutinized financial reports and draft budgets for the upcoming year.
The meeting addressed the 2024 capital budget, which is projecting a deficit of $19.1 million. Administration is expecting $1.1 million in provincial grant funding, but because of the uncertainty of how much provincial grant money will be received, council proposed deferring several projects to mitigate the deficit.
The first draft of the budget, discussed earlier this year, initially projected a $24.3 million deficit for the capital budget. Changes made in the second draft of the budget included deleting the double entry for Storm Trunk Upgrade Construction, saving $4 million. Other changes include increasing expenses for the Tourism Strategy to $75,000 and using reserve revenue for decorative lights, which will cost $325,000.
Additionally, administration recommended deferrals for several projects, including future library expansion, infrastructure replacement on 52 Avenue and 62 street, traffic light installation, and adding left-hand turn markings on 46 streets. In total, these deferrals would save an estimated $9.8 million.
Councillors questioned the rationale behind certain deferrals, with Coun. Phil Kushnir seeking clarity on the repeated deferral of adding left-hand turn markings on 46 street.
“We're very hopeful to ask the province to fund the cost of the improvements, including dedicated left-hand turn lanes and the necessary traffic signal upgrades,” said CAO Bill Rogers.
As well, council still requires a funding plan for the aquatic facility before presenting the interim operating budget. The aquatic facilities expenses are estimated to be around $250,000.
Council will advance the budget proposals to the open house, which is scheduled for Dec. 5. The upcoming open house provides an opportunity for public input and feedback on the proposed budgets.
The open house will be held in council chambers at 6 p.m.
