Lethbridge City Council will return to having staggered years for its Capital and Operating Budget deliberations.
At its May 28 meeting, Council voted unanimously to approve changes for the 2027-2030 Capital and the 2028- 2031 Operating Budget process.
“Having the capital and operating budget deliberations occur in two separate years will allow additional time to engage and communicate with the community,” says Mayor Blaine Hyggen. “It will also provide Administration adequate time to prepare and provide more opportunities to share information about both the capital and operating budgets.”
Chief Financial Officer and Treasurer Darrell Mathews says this additional approved year or “stub year” will stagger the operating and capital budgets, “so the same Council can approve both the capital and operating budgets in their term.”
“The Capital Budget is approved one year (2026) before implementation (2027). This will reduce inflationary risk associated with the projects and allows capital projects to begin sooner in the term of Council who approved the projects.”
The Economic and Finance Standing Policy Committee is responsible for the development of the budgets, which are presented to Council for consideration and approval.
At an Economic and Finance SPC meeting held in April, Administration provided a presentation in regard to the 2027-2030 Capital and Operating Budget process.
Staggering the two budgets will:
- Reduce the number of meetings in a one-year period due to staggering budget deliberations by one year.
- Allow Council to complete orientation before entering budget deliberations in 2026.
- Ensure the same Council’s capital budget decisions are integrated in the operating budget deliberations within their term.
The previous budget process model, as approved in 2021, would have required conducting the capital and operating budget deliberations in the same year (2026) for the 2027-2030 Capital and Operating Budget.
The current operating budget includes a four-year (2023-2026) approved budget and the capital budget includes a five-year (2022-2026) approved budget within a 10-year (2022-2031) financial plan.
