Town of Banff

Budget 2010

On February 8, 2010, Council approved the 2010 - 2012 operating budget with an overall tax increase of 2.55% in 2010. The 2010 - 2019 capital budget was also approved.

• 2010 - 2012 Operating Budget ( PDF - 216 kb)
• 2010 - 2019 Capital Budget ( PDF - 43 kb)

Operating Budget

The 2.55% increase will cover:

• Transfer to capital reserve: $389,00 (2.02% overall tax levy increase)
  
• 3% Cost of living adjustment to employee wages: $213,000 (1.11%overall tax levy increase)
  
• Rising landfill fees: $93,000 (0.5% overall tax levy increase)
  
• Budget stabilization reserve: $56,495 (03.% overall tax levy increase)
  
• Increase in RCMP costs: $50,000

The following changes were made to the budget before it was approved:

• $30,000 was redirected from the capital reserve transfer to fund Engineering summer student program.
  
• The Fireworks budget was reduced by $5,000. The remaining $17,000 will be divided to fund shows at New Year's, Canada Day and Hallowe'en.
  
• Overall training and development was reduced by $20,000.
• $1,700 was added to the budget to help fund Banff Lake Louise Tourism's Christmas in the Rockies and festive carolling. The Town will also provide labour, installing BLLT's event banners for no charge.
  
• $2,000 in new funding will go to Bow Valley Kidsport, and the Library will receive an increase of $4,800.
• $4,190 in new funding will be contribute to formation of a Regional Transportation Authority in the Bow Valley.
  

Council also made the following decisions:

• A hiring freeze will be instituted for 2010.  Any new or replacement hires may only be made in accordance with the 2010 budget and with the approval of the Town Manager.
• Council will review the possibility of adding a municipal rider to electricity bills.
  
• After the budget is approved, Council will discuss embarking on a project to to review and perhaps change the process currently used to set the budget.

Capital Budget

New projects planned for 2010 include:

• Compost curing site relocation - $450,000
• Roadway overlay (an annual program) - $200,000
• Wolf Street Washroom (new roof) - $35,000
• Wayfinding -- $380,000
• Bunker Gear Replacement  - $30,000
• Fleet replacement (ice resurfacer) - $185,000
• Mainline inspection camera (to check quality of sewer lines) - $65,000
• Wastewater Treatment Plant Upgrades (an annual program) - $486,500
• Water Line Valve Replacement (an annual program) - $70,000
• Tunnel Mountain Pumphouse Upgrades - $150,000

Changes to grant funding

Every year from 2010 to 2016, the Town was slated to receive about $4.8 million in Municipal Sustainability Initiative (MSI) grant funding to put towards capital projects.  Instead, Banff will likely receive around $2.6 million a year, leaving us with a $14.7 million shortfall.

How Council is managing the change:

• All capital projects have been ranked using considerations such as health and safety, quality of life and potential effects on operating costs.
• Capital Project Review Criteria ( PDF - 31 kb)
  

• Projects like the Cave Avenue reconstruction have been delayed.
  
• In the past, infrastructure was replaced before it was a risk of failing. Replacements will be delayed in 2010, which may result in Council needing to make decisions about the emergency replacement if assets fail.

More information:

• 2010 – 2019 Capital Reserves ( PDF - 92 kb)
  
• 10 Year Debt Limit Analysis ( PDF - 70 kb)
  

How We Develop the Budget

• August & September – Departments prepare budgets. The management team reviews the budgets and evaluates new or changing requests.
• October - Council reviews and approves the Financial Plan.
  
• October – Council identifies their priorities. These are added to draft budget for review.
• November & December – Council debates the budget in meetings open to the public. Public presentations and written comments are welcome.
• December – Council adopts the budget.
• April – Council adopts the Tax Rate Bylaw.