A detailed report on Lacombe County’s activities and strategies about the global COVID-19 pandemic was received for information.
Policy AD(30) Financial reserves
Policy AD(30) Financial Reserves was first established in 2012 and authorizes the establishment of funded reserves which are used to offset future obligations. The intent of the policy is to allocate funding from the operating budget on a predictable and consistent basis for future obligations. Legislative and Council policy changes resulted in a review of this policy.
Policy AD(30) Financial Reserves was approved as amended.
Operating surplus & reserve allocations
By resolution of Council, the 2019 operating budget surplus was allocated as follows:
- Tax Rate Stabilization Reserve – $ 2,100,000
- Remain in Unrestricted Surplus – 48,986
- Total – $ 2,148,896
Federal/provincial funding – Shovel ready projects
Council was informed that Alberta Municipal Affairs and the Rural Municipalities of Alberta (RMA) are encouraging municipalities to prepare and submit a list of shovel ready projects for consideration of federal and provincial government funding. At the federal level, the Federation of Canadian Municipalities (FCM) is requesting leveraging of existing grant programs, with a focus on delivering funding efficiently and quickly to local governments.
The Lacombe County list of Shovel Ready projects was approved by Council and that list will be submitted to Alberta Municipal Affairs, Lacombe County MLAs’ and other federal and provincial agencies as required.
Lacombe County 2019 financial statements
Council approved the Lacombe County 2019 Financial Statements, which reflect the 2019 surplus and reserve allocations.
Next regular council meeting is May 14, 2020 – 9:00 a.m.
Next Committee of the Whole Meeting is
Tuesday, June 2, 2020 – 9:00 a.m.
Lacombe County Administration Building