Every year, the municipal budget is presented, debated, and approved by Council. The municipal budget determines spending priorities and levels of service delivery for residents. Each department presents their proposed capital budget to Council during budget workshops.
The municipality operates on a 12-month fiscal cycle, from January 1st to December 31st. Under the Municipal Government Act (MGA), Council must adopt an operating and a capital budget each year:
Deals with the annual cost of delivering services
(materials, supplies, office and work space costs, wages, etc.)
Includes amounts to be transferred each year to support capital budget investments
Is fully balanced
Deals with significant investments that have long term value to the municipality
(buildings, roads, bridges, recreation centers, other infrastructure)
Is financed through a mixture of debt, cost sharing, reserve withdrawals and transfers from the operating budget.