Town of Banff

Budget 2008

2008 budget deliberations

Council approved the 2008 operating and capital budget at the December 17, 2007 council meeting.  The budget represents a 12.2% increase to municipal taxes.  Because we anticipate a 4.8% reduction in provincial education taxes, tax payers will only see a 5.27% increase on their overall 2008 bills.  The overall increase equates to roughly $119 on the average residential tax bill and $4,300 on an average commercial bill.

New operating initiatives for 2008 include:

• New laptop computers for councillors - $14,500
• Communications design student - $9,000
• Parking & traffic team for Banff Avenue closures - $20,000
• Capital asset management coordinator - $75,000
• Fire Department administrative assistant - $20,000
• Automated external defibulator replacement for Fire Department - $5,000
• Custodial staff person - $38,000
• Long range economic development study - $25,000
• Rotary non-profit Hub - $10,000
• Children's program supervisor staffing increase - $7,600
• Seniors support coordinator staffing increase - $10,100

Council also approved a $1,500 funding increase for Bow Valley Victim Services, and reduced the overall expenditures for printing and binding by $16,400.  The Heritage Corporation has been asked to increase their grant revenue by $5,000, and the estimate for traffic and fine revenue was increased by $25,000.

Significant capital projects approved by Council for 2008 include:

• $3,470,0000 towards construction of bus and fleet storage
• $2,517,634 towards completion of Banff refreshing (carry over from 2007)
• $2,630,000 towards new transit buses (carry over from 2007)
• $1,886.164 towards a pedestrian bridge (carry over from 2007)

A significant project that did not receive Council approval was construction of a new parking facility in the 200 block of Beaver Street.  Originally scheduled for 2011, the potential for escalating constructions costs motivated Council to consider moving the project to 2008.  In a narrow vote, Council voted to remove the project from the books entirely, and asked administration to return in January with ideas for encouraging better use of existing parking, and for increasing the number of stalls without building a new structure.

• 2008 Operating Budget
  
• 2008 Capital Budget

For more information, contact the Corporate Services department at corporate_services@banff.ca or by calling 762.1210.