City discusses 2013 fixed asset budget
May 18, 2012
The council of St. Albert's, a municipality in the Canadian province of Alberta, recently met to discuss the city's capital budget for 2013, the St. Albert Leader reports.
According to chief financial officer Anita Ho, the budget is likely to face shortfalls in the next fiscal year because its current capital envelope is approximately $400,000 less than the city's capital reinvestment average from the past decade.
Of the $15 million being set aside for 2013, nearly three-quarters will be put toward renewing existing fixed assets
, such as the $550,000 restoration of the oldest house in the city, she said. This leaves very little for new fixed asset
projects, including the construction of roads and the proposed $4.6 million expansion to the city's art gallery.
Some council members suggested a scaled-down version of the expansion, beginning with an effort to make the art gallery wheelchair-accessible.
Elsewhere in the country, the municipality of Strathroy-Caradoc, Ontario, passed its 2012 budget last month. The budget deferred fixed asset projects such as road repaving to reduce its tax levy by $29,000, according to the Strathroy Age Dispatch.