Residents will be looking at a 4.39 per cent property tax increase after Cold Lake council passed its 2025 budget.
The budgets include a total of 473.4 million in expenditures, with the Operating Budget accounting for just over $59 million and the Capital Budget compromising $14.4 million in funding.
Mayor Craig Copeland acknowledged the challenge of balancing inflationary pressures with the need to maintain services. “Council wanted to respect that inflation has hit everyone’s budgets and there is a general feeling that household spending is tightened. Once again, we’ve held the line on services with a few small additions.”
The 2025 budget reflects significant increases in costs across various sectors including $515,000 RCMP contract policing costs, $228, 5000 power and natural gas for facilities, $30,000 fleet fuel costs, and $25,000 in insurance.
The city will continue funding its Commercial Security Program, a response to increased petty crime and vagrancy, with $190,000 allocated for its operation. Funding for Aqua Days and Canada Day celebrations was increased by $12,500 each, ensuring vibrant community events.
The Community Capital Grant Program also received a $50,000 boost, providing additional support for local organizations. “The cost of hosting events and providing for public safety is increasing,” said Copeland. “We’ve adjusted where we can to support important community events, celebrations, and our local non-profits, but we can only relieve so much pressure.”
The 2025 Capital Budget prioritizes infrastructure and community enhancements, including, the expansion of the CL Medical Clinic with anticipated construction costs of $4 million, $2 million additional funding for the Public Works Operation Centre to bring its total funding to $31.5 million and $5,050,000 for Roadway Infrastructure improvements.
Recreation and Community Facilities investments include, $600,000 for an Ice Plant Cooling Tower, renovations to the Cenovus Wellness Centre and Imperial Oil Arena glass replacement, and a new park and playground in the Lake Ridge Development area.
Other expenditures include kayak storage expansion at the marina, environmental infrastructure improvements and equipment replacements.
Operating expenses increased 1.77 percent over the previous year, with notable allocations for RCMP policing, utilities, and community grants.
Capital investments focus on long-term community development, with funding spread across, Fleet and Equipment Infrastructure $1,247,000, Environmental/Utility Infrastructure $300,000, Facilities Infrastructure $7,316,000, and Recreation Infrastructure $460,000.
Residents can find a full breakdown of projects on the city of Cold Lake’s website.
