City updates 2015 capital budget

Council has approved the amendments to the 2015 Capital Budget, which include $8.7 million in carryover

  • May. 21, 2015 6:00 p.m.

Council has approved the amendments to the 2015 Capital Budget, which include $8.7 million in carryover and in-progress projects from 2014, and $29.9 million (up from original estimate of $20.9 million in December 2014) in new capital projects for 2015.

“The primary source of information for the 2015 capital budget is the 2015-2024 10-year capital budget, which has been prepared in conjunction with the 2014 capital budget for carry over projects,” said Chief Administrative Officer Norma MacQuarrie. “Revenue sources, and in particular grant funding, has been adjusted on a number of projects to reflect updated costs and grant balances.”

The 2015 capital budget was initially approved in December of 2014. At the time, $20.974 million in new capital projects was approved. The current proposed revised capital budget for 2015 has a current balance of $38.6 million.

As part of the annual budget review, administration has reviewed the 2015 capital budget in accordance with council’s budget policy and proposed a number of changes.

In total, an additional $17,641,997 in additional capital was identified in the 2015 capital budget, as compared with the December document.

New projects already approved include the 45th Street Storm Main at $2,810,000, and the pump house reservoir replacement at $4,039,000.

“The addition of the new projects will have an impact on grant balances,” said Corporate Services Director Michael Minchin. “These changes in grant fund balances will have an impact on the 10-year capital plan going forward. Those impacts will be presented during the 10-year capital plan review later this year.”



Just Posted

Buccaneers pillage Irish 36-0

Central Alberta bounces back after off week against Wolfpack

Lacombe business drives home with CARS Magazine 2019 Shop of the Year Award

Lacombe Auto Service Centre Ltd. looking to keep evolving with industry

Lacombe Corn Maze celebrates 20 years in central Alberta

Kraay Family Farms will be celebrating the occasion all season

Lacombe’s Chairs for Charity is back for second year

75 chairs to be auctioned off in hopes of raising $10,000

Community mourns the deaths of two Maskwacis toddlers

Siblings found drowned on family’s property

WATCH: Lacombe AUPE members picket against Bill 9

Union members say their constitutional rights have been ignored

A year later, ceremony commemorates victims of the Danforth shooting

It’s the one-year anniversary of when a man opened fire along the bustling street before shooting and killing himself

Ottawa fights planned class action against RCMP for bullying, intimidation

The current case is more general, applying to employees, including men, who worked for the RCMP

Alberta judge denies B.C.’s bid to block ‘Turn Off the Taps’ bill

He said the proper venue for the disagreement is Federal Court

Sexual harassment complaints soaring amid ‘frat boy culture’ in Canada’s airline industry

‘It’s a #MeToo dumpster fire…and it’s exhausting for survivors’

How much do you know about the moon?

To mark the 50th anniversary of the first lunar landing, see how well you know space

Bashaw seed cleaning plant holds official opening

New facility operating well since January

Couple found dead along northern B.C. highway in double homicide

Woman from the U.S. and man from Australia found dead near Liard Hot Springs

Bank of Canada lowers qualifying rate used in mortgage stress tests

Home sales softened last year after the federal government introduced new stress test rules for uninsured mortgages

Most Read