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Raymond approves 2021 interim budget

Posted on December 24, 2020 by admin

By Nikki Jamieson
Westwind Weekly News

Raymond town council has passed their interim budget for 2021.

Presented during council’s regular Dec. 15 meeting, the budget will allow the town to continue to run until the province provides mill rates in the spring of 2021, at which point the budget will be finalized.

Martin Wolfe, chief financial officer for the town, said they have a $2,000 profit projected based on this budget.

“This included $100,000 of land sales coming from Sugar City Development Corp. This also includes doubling the amount of money that we’ll pay to the (Historic Resources Committee) for $15,000 instead of $7,500, and all the other minor changes that happened throughout the budgeting process,” said Wolfe. “This also includes 100 per cent of our, well I guess it’ll be 2021, most grant money, which is about $434,000 plus. So all of our, all of that money that
we’ve already received, will be included in 2021’s budget. Which is where it should be spent anyway, because it has to be spent before the end of 2021, otherwise it gets clawed back.”

The budget also shows a “slight increase” in tax revenue, which Wolfe said was based on an increase in growth, and not on an increase in tax to individuals.

CAO Kurtis Pratt noted that currently, they do not anticipate a rise in taxation, however
as the town only controls one in three portions that make up their tax bill — the other two parts being the senior’s foundations and provincial education — depending on the rates for the
other portions, which are out of the town’s control, it may have an impact on taxes. Changes to an individual’s property assessment would also affect their tax bill.

Council passed a motion to approve the 2021 interim operating budget.

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