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Elk Point passes interim budget 2020

The 2020 interim budget is $4.3 million. This consist of $1.74 million (40.4%) in property taxes, $562,830 collected for School/ Senior Housing (13.1%), $1.29 million collected Utilities & Services (39.9%) – Water, Sewer, Garbage and user fees.

Town receives $436,686 (10.0%) in grants – Federal/Provincial/Local Government, $205,567 in Power & Gas Franchise fee (4.8%), and $78,000 (1.8%) in Interest and Penalties.

2020 interim budgeted financial expenses are:

Utilities $1,352,476
School / Senior Housing 562,830
Public Works & Streets 532,797
Administration 426,692
Recreation & Community Services 345,596
Safety & Bylaw Enforcement 358,893
Council 164,259
FCSS 60,900
Library 54,950
Airport 50,503
Economic Development 21,200
Professional Service – Assessment/ Audit/ Solicitor/ Engineers 38,200
Capital Projects 133,700
Debt Repayment 202,500
Total $4,305,497

 

Capital Projects 2020

Railway Ave, Street Rehabilitation Provincial/ Federal Grants $265,000.00
Water Meter (Electronic Head) Replacement 100% Water Reserve $220,000.00
Backhoe Provincial Grant $165,000.00
East Cemetery Road, 50th Ave-Rehabilitation General Reserve $5,000.00
Sanitary Sewer Lift Station Provincial/ Federal Grants $870,448.00
Sub Total   $1,525,448.00

Note: Only $5,000 of operating taxes used in 2020 for these capital projects

 

Property Assessment

Real property is assessed in accordance with MGA Part 9, Division 1. Elk Point’s Property Assessment is based on a July 1 market value (the year prior to tax year) and is determined each year based upon market sales by contractor, Wainwright Assessment Group, phone number is 1 (780) 842-5002.