Edson town council has approved its Capital and Operating Budgets for 2025.
Mayor Kevin Zahara says council has worked hard to present a fair and balanced budget.
“Council is committed to passing budgets that keep affordability in mind as we continue to face extreme inflationary pressures and infrastructure demands,” says Zahara. “This is a difficult balance considering the increasing costs to municipalities, but we feel we’ve been presented a fair budget that addresses the needs of the town with quality levels of service for our residents.”
Council approved $40.03 million for the Operating Budget, which balances the Strategic Priorities of Council with various factors including cost of service, affordability vs demand for infrastructure, financial sustainability and reserve management.
Officials are estimating the municipal tax levy increase for 2025 will be four per cent. That works out to an increase of $8.00 per month on an average residential assessment of $350,000.00. User fees are expected to increase by three per cent and utility fees are also expected to increase by five per cent. Officials say these increases will allow the town to keep pace with inflationary costs, maintain current service levels, and contribute towards the operating and capital reserves for future planning.
The Capital Budget for 2025 focuses on infrastructure improvements and flood mitigation efforts with sanitary sewer and road upgrades. Scheduling and funding for the purchase of an Aerial Truck for the Fire Department, improvements for Vision Park and the start of the YCE Multiplex Project are also included in the 2025 Capital Budget. The Capital Budget also accounts for $42,086,075.00 invested in 27 initiatives.
The 2025 Capital Budget received 53.1 per cent of its funding through grants, 21.1 per cent from reserves, 20.1 per cent from other local governments and boards and 5.6 per cent through debentures.
