Town of Elk Point Council has given the final approval the Town’s Capital Budget Plan. The municipality had previously approved the Operational Budget, which is usually done early in the year, with the Capital Budget to follow.
A Capital Budget outlines specific expenditures that municipalities incur during a year, Councillor Lorne Young explains, “typically, this is done a little earlier in the year. We did have a Capital Plan in place, but we made some adjustments to it, so we gave final approval to the Budget.”
Along with approving the 2015 Capital Budget, the Town’s Chief Administrative Officer (CAO), Ken Gwozdz is working on the Capital Plan for 2016, says Young, “Ken will be bringing that to us this Fall for early approval.
Some larger expenditures included in the 2015 Capital Budget include:
- Water Reserve Facility Upgrades $348,319 Municipal Sustainability Initiative (MSI) Funding
- Centennial Drive Subdivision $300,000 Loan
- Sewage Lagoon $134,765 Alberta Water & Waste Water Grant
- Walking Trail $24,829 Recreation Reserves