Lac La Biche county has approved it’s 2018 municipal budget. The budget includes $25.5 million in new capital spending, allowing the County to continue updating its aging infrastructure, among other projects In addition, $5.7 million has been allocated to reserves, for future planning.
Operating expenditures are do to be at approximately $57 million, and the County is currently targeting a surplus of $2.5 million.
“What we have is a responsible, flexible plan to serve our residents’ needs,” said Mayor Omer Moghrabi. “Our economy still presents challenges, but I’m pleased to say we’re in a strong financial position and we have a range of options to help us meet our goals. We continue to operate within our means, and we’re succeeding at reducing our infrastructure deficit. We’re preparing to face the challenges of the future and we can proceed with confidence, knowing our fiscal house is in order.”
A full overview of the budget will be posted on the County’s website in the future. Council will also look to set local property tax rates. These will be discussed at meetings later this spring, after Council has received information about property assessments.