Budget 2025
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Council has approved the 2025 Capital and Operating Budgets.
A $40.03 million operating budget was approved that balances several factors such as cost of services, affordability vs. demand for infrastructure, financial sustainability, reserve management, and alignment with the Strategic Priorities of Council.
“Council is committed to passing budgets that keep affordability in mind as we continue to face extreme inflationary pressures and infrastructure demands. 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.
-Edson Mayor Kevin Zahara
The anticipated municipal tax levy increase for 2025 is 4%. This assumes no growth in assessment as that data is not yet available. On an average residential assessment of $350,000, this would equate to an estimated increase of $8 per month. This budget also includes an approximate increase of 3% in user fees and an average of 5% in utility fees. This allows the Town to keep pace with inflationary costs, maintain current service levels, and contribute towards the operating and capital reserves for future planning.
Council has also approved the 2025 Capital Budget. A large focus remains on infrastructure improvements and flood mitigation efforts with sanitary sewer and road upgrades. The much-anticipated start of the YCE Multiplex Project is scheduled and funded for 2025, as well as some improvements at Vision Park and the purchase of an Aerial Truck for the Fire Department.
The 2025 Capital Budget includes twenty-seven (27) initiatives with an investment of $42,086,075. The Capital Budget is funded 53.1% from grants, 21.1% from reserves, 20.1% from other local governments and boards, and 5.6% through debentures.