Cochrane Town Council officially passed the 2024 – 2026 Operating Budget at the Dec. 11 regular council meeting, by a 4 to 3 margin. Councillors Tara McFadden and Morgan Nagel joined Marni Fedeyko in voting against it, with Alex Reid, Patrick Wilson and Susan Flowers in favour.
Mayor Jeff Genung broke the deadlock when he cast his vote in favour.
Fedeyko has been outspoken in her criticisms of the last two budgets presented to council by the Town administration, calling repeatedly for more detailed information.
The 2024 – 2026 Operating Budget, which was originally presented to council a few weeks ago for discussion, contained a breakdown of spending that would have resulted in a 3.45 per cent tax increase, based on an average residence with an assessed value of $561,200.
After a few days of debate, council voted to add three items: extended hours for the Station, four new firefighters, and funding for affordable housing. The affordable housing funding will come out of reserves, and as such has no effect on taxation.
With the additions, the new tax increase will be 3.63 per cent, which is the lowest increase for all like-sized towns in Alberta.
In voting in favour of the new budget Coun. Flowers said that when using a three per cent figure to allow for inflation, it really amounts to a 0.63 per cent tax increase, which she called “pretty good.”
For the average residence, the end result will be a monthly increase of $18.55, including utilities.
