2018 Budget and Annual Financial Report

Each year The City determines the funds it requires for its operating and capital budget. City Council approves these requirements at separate times.

Capital Budget: 
On December 1, 2017, Red Deer City Council approved the 2018 Capital Budget and 2019-2027 Capital Plan of $80.7 million.

The capital budget indicates the funds needed for the first year of the 10-year capital forecast period. It is how we pay for major projects such as reconstructing streets; building and improving public facilities such as recreation facilities, community centres, parks and fire halls; dealing with growth pressures such as new streets; and new initiatives. These costs are similar to adding an addition to your home this year.

The 2018 Capital Budget concentrates on adjusting to the new financial reality. Some of the items passed during Council deliberation include:

  1. Infrastructure replacement and rehabilitation projects including Crown Paving, roadway reconstruction and stormwater infrastructure.
  2. Current growth projects are focused within the current city growth area and include approved projects such as Waste Management infrastructure, and Highway 11A sanitary trunk extension.
  3. Future growth projects prepare The City for the new growth area and includes approved projects such as storm offsite projects.
  4. Community Amenity projects included approved projects such as Bower Ponds node enhancements and sports fields upgrades.

Operating Budget: 
Council started deliberations for the 2018 Operating Budget on January 9, 2018, and concluded on January 19. City Council approved a $364 million operating budget with a 2.02 per cent tax increase. This 2.02 per cent increase in the operating budget is made up of 0.91 per cent for operating costs, and 1.0 per cent for capital investment for amenities and growth plus 0.11 per cent for provincial carbon tax.

The operating budget shows the day-to-day costs of delivering programs and services for the next year. These costs are similar to your everyday household expenses such as mortgage payments, utilities or groceries.

Visit our Budget and Annual Financial Reports page for general information on the budget and processes.