COCHRANE— The Town of Cochrane is encouraging Cochranites to share comments on the 2021 Draft Budget before it comes before council on Monday (Nov. 16).
“I think the draft budget is one of the most important documents that council prepares,” said Town of Cochrane interim CAO Drew Hyndman. “It really provides a summary of the work we are going to do in the next few years and really provides residents the opportunity to have a better understanding of that, but also provide their insights about what they believe the priorities for the community need to be.”
The Draft Budget was presented to council on Oct. 26 and the public can provide input until Nov. 12. Council will deliberate the budget from Nov. 16 to 18.
It has been a challenging year for everyone, including the Town, due to the impact of COVID-19, Hyndman said. The Town has prepared the document accordingly and done their best to provide a budget that continues to provide services that are important to the community, while looking to the future needs of Cochrane.
“It has been a very challenging budget and a challenging year, but I also appreciate that our residents have been going through a very challenging time in their own household,” Hyndman said. “We feel like we’ve provided a good starting point for the discussion.”
Approving the 2021 Budget will be a challenging process and council is now reviewing the document and encouraging the public to provide feedback. Hyndman said, they hope Cochranites will share their feedback through the online survey available from the Town.
Cochrane administration has already received feedback from the public, he noted, and there has been a general trend of concern centred on the proposed tax rate changes over the next three years, council priorities and questions on transportation.
“There will be changes,” Hyndman said. “One of the challenges that the Town has seen over the last number of years is obviously there has been growth and with that growth, there is increasing demands.”
The Draft Budget includes a proposed expenditure of $49.4 million in capital projects for 2020— $12.8 million on Centre Avenue and Highway 1A improvements, $23 million on a new protective services building, $4.3 million on the Transit Hub and Innovation Centre and $3.2 million to relocate utilities on Highway 1A and 22.
As part of the budget, Town administration is projecting a property tax increase of 1.27 per cent in 2021, 4.29 per cent in 2022 and 5.71 per cent in 2023.
Based on the remuneration policy of the Town, the Draft Budget document also includes a proposed increase in the council’s expenses from $545,397 in 2020 to $658,704 in 2023. In terms of the salaries for administration there are no changes.There are no cost of living increases proposed, either than for unionized staff, and no positions have been added to Town administration. No performance increases for staff are included in the Draft Budget.
The total expenses for the budget are expected to increase by $1,482,284, roughly two per cent. At the same time tax levy and requisitions are projected to increase by $936,695 with growth in assessment covering $573,310.
He noted historically the tax rate in Cochrane has not kept up with the demands of the community. “We don’t want to just go from a very low tax rate to 2022 and have it be a burden for residents, but also, we want to find that balance and that’s what we're hoping to do— Not only through the proposal we’ve put together right now but through the deliberations process,” Hyndman said. “It’s all about balance— That’s what we anticipate the discussion through the deliberation process will ultimately achieve, as well as the input from residents."
He noted the tax rates are not contingent on the growth rate of the Town as much as ensuring they continue to provide the services needed by residents.
“There’s more kilometres of roads, more parks to maintain, things of that nature,” Hyndman said. "What we’re trying to find is where is that balance— A manageable tax rate while also understanding the circumstances that so many of our residence and the Town is in as well.”
Other important aspects of the proposed budget include councils' commitment to “connectivity” and the pedestrian crossing of the railway tracks designed to “enhance the vibrancy of downtown," along with projects in the works including an infrastructure gap reserve which will provide some reserve money for future projects and a review of off-site levies.
“Through our off-site levies that provides us an opportunity as the community continues to grow that we can continue to deliver on these important transportation projects,” Hyndman said. Off-site levies are the responsibility of the development community in Cochrane. Developers contribute taxes based on the development growth they experience. These funds are collected and intended to help finance future improvements in Town.
“The budget is a very important document, we want people to participate,” Hyndman said. “Their input is very important.”
The community is encouraged to provide input on the draft budget by visiting letstalkcochrane.ca/budget.
