of The Clarion
The Town of Kindersley’s 2018 budget contains the largest capital investment for several years to come with nearly $11.5 million in capital expenditures.
Council members approved the 2018 budget at a meeting on May 7. With expenditures of more than $23.1 million and revenues of more than $17.1 million, there is a $6 million difference. The budget will be balanced by a combination of borrowing and transfers from reserves.
Three larger projects consume more than $8.07 million of the total budget with $5.1 million for the new aquatics centre, $2 million for the new fire hall and $975,360 for the regional landfill project. The three projects represent 70 per cent of all capital spending for 2018.
The town’s road and utilities projects are budgeted at $2.76 million to consume most of the remaining capital dollars being spent this year. The town is also investing in parks with a total of $178,500 in park expenditures.
Parks spending includes $66,000 for Coleman Park, $40,000 for Kinsmen Park and $72,500 for new playground equipment. The town’s operating budget represents a total of $12.5 million of the total budget. The town projects a surplus of nearly $319,000 after transfers and loans.
The town’s single largest revenue stream is the municipal tax levy. The 2018 budget forecasts nearly $7.24 million in revenue from the tax levy, a slight increase over the $7.1 million forecasted in the 2017 budget. The forecasted municipal tax levy in 2017 ended up under budget at approximately $6.95 million.For more on this story, please see the May 16 print edition of The Clarion.