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HomeNewsCapital budget approved at committee level

Capital budget approved at committee level

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The municipal general government committee has approved the 2018 capital budget and moved it to the council level for a vote.

CFO Margaret Karpenko notes that the overall bottom line for 2018 is lower than it was in 2017 due to less funding for projects from other government levels. She says that when funding became available prior to finalizing the 2017 budget, the City quickly rearranged some priorities to take advantage of what turned out to be a one-time infusion of capital. The capital budget totalled $44.2 million in 2017, compared with $32.7 million for next year.

Karpenko adds that of the future projects the City calls “transformational,” meaning the new arena build, a replacement for the police headquarters, and the Cassellholme project, the arena is farthest along and has $500,000 set aside in the 2018 capital budget for site selection and preparation.

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