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

Thurber Raiders snatch season opener from the Lacombe Rams

Red Deer game saw 44-8 win for the Raiders

City crews clean up Lacombe yard

Loads of debris were taken out of the residence property on Sept. 21st

Wolf Creek Schools raises Treaty 6 flag for first time

Chiefs, school officials took part in a ceremony that is aimed at acknowledging Treaty 6 land

Lacombe Generals looking to capture Allan Cup on home ice

Generals returning key veterans in hopes avenging last years finals loss

Unsightly properties upcoming focus for Bylaw Enforcement

Clean up of long-standing, problematic properties will begin on Sept. 21

WATCH: AHS breaks ground on new Lacombe Community Health Centre

17,000 sq. ft. facility will bring existing Lacombe AHS services together

VIDEO: Inside an eerily empty mall in Canada

Only seven of 517 retail spaces are open for business as the grand opening postponed to next year

Tens of thousands without power following tornado in Ottawa region

Hydro Ottawa says more than 170,000 customers were without power early this morning

BALONEY METER: Do Liberal policies mean a typical family is $2,000 richer?

MPs took to Twitter to talk how ‘typical’ Canadian families have more money due to Liberal policies

Tornado touches down in Ottawa and Gatineau, Que.

Environment Canada says cars and homes have been damaged by severe thunderstorms and high wind gusts

Tilray Inc sees $10-billion in market cap go up in smoke

Tilray’s share price closed at $123 US on Friday, a decline from its intraday peak of nearly $300 US earlier in the week

Canada to boost support for riskier forms of renewable energy: minister

A $30-million contribution to a $117-million tidal project hopes to harness the immense power of the Bay of Fundy

WATCH: Grey Cup was in Red Deer to support military families

Money raised will go towards the Military Family Resource Centre

Most Read