From the Town of Ponoka:

After two days of budget deliberations, Ponoka Town Council approved the 2020 Interim Capital and Operating Budgets at its regular meeting last week.

The total amount of the 2020 Town of Ponoka Interim Budget is $25,430,870, which includes an Operating Budget of $18,824,920 and a Capital Budget of $6,605,950.

“This was a really tough budget to work through due to recently announced provincial funding cuts to municipalities,” says Ponoka Mayor Rick Bonnett.

“However, with considerable fiscal restraint and cost-cutting, we are pleased that we can minimize property tax increases for 2020 while continuing to maintain funding for existing service levels and provide the day-to-day services that our residents have come to expect and rely on,” says Mayor Bonnett.

With more provincial funding cuts expected for 2021, he adds, ‘Whether we will be able to continue to avoid cuts to municipal services in 2021 remains to be seen.”

While it’s too early to calculate an exact property tax increase for 2020 because property assessment values don’t become available until the spring, the tentative increase in property tax revenue required for 2020 is projected to be 2.7 per cent. That would equate to an increase of about $22 per $100,000 of residential property assessment, and about $29 per $100,000 of commercial property assessment.

“The 2020 mill rate can only be established by Council once property assessment values are available. Council will then have another opportunity to review the 2020 Budget prior to adopting the final budget in the spring,” explains Albert Flootman, Chief Administrative Officer (CAO) for the Town of Ponoka.

Highlights include:

Ponoka Property Taxes Remain Among the Lowest

Flootman points out the average amount of property taxes paid per household in Ponoka remains among the lowest of municipalities along the Highway 2 corridor. 

“This Budget once again focuses on maintaining essential service levels and continuing to invest in key infrastructure, while always being aware of the need to minimize tax increases for residents and businesses during tough economic times,” says Flootman. 

Capital Projects

The 2020 Interim Budget contains a smaller Capital Budget than usual with almost all projects funded by provincial or federal grants. The capital projects being funded support several infrastructure renewal projects. 

Public Consultation Results Align with Budget Decisions

The Town once again consulted with residents on the 2020 Budget with a series of public open houses and a statistically representative Citizen Satisfaction Survey. “We gave the public input and survey results careful consideration during the budget deliberations,” says Mayor Bonnett.

“When asked which option they would choose to the balance the budget – increase taxes or cut services - a majority of people were open to a small increase in taxes to maintain or enhance services,” he says.

A final 2020 Budget will be presented to Town Council for consideration by April 2020, once property assessment values and the education and seniors’ housing tax requisitions are determined in the New Year.

To view the interim budget in its entirety, head to the Town of Ponoka website.