Town of Bonnyville Council covered a wide range of financial matters during its latest meeting, including approval of the 2025 audited financial statements, rising property assessments, and early direction on the 2026 municipal budget.

2025 audit approved with clean results

Council received its annual financial audit from Wilde and Company, which confirmed the Town’s financial statements were presented fairly and in accordance with Canadian Public Sector Accounting Standards (PSAS).

Following the presentation, council formally approved the 2025 audited financial statements as presented. The full audit will be made available on the Town’s website.

Property assessments increase across most categories

Council also heard a detailed presentation from Accurate Assessment Group on 2025 property values, showing overall growth across nearly all categories.

The Town’s total assessment base increased by approximately 6% compared to 2024.

Breaking that down:

• Residential properties increased by four per cent
• Non-residential properties increased by six per cent
• Linear properties increased by nine per cent
• Farmland increased by one per cent
• Exempt properties saw the largest increase at 11 percent

The assessor noted that most property owners will see only modest changes.

“About 93 percent of the taxable properties in the town… will be experiencing less than a 10 percent change year-over-year,” the presentation stated.

Council also heard that most increases are driven by changes in market value rather than new development, signalling a strengthening local real estate market.

Budget pressures continue as costs rise

Administration presented updated drafts of the 2026 operating and capital budgets, highlighting ongoing financial pressures across departments.

The proposed 2026 operating budget totals $35.89 million and reflects updated costs since the interim budget was approved in December 2025.

Without any tax changes, the Town is facing an additional $121,358 deficit.

Rising costs were noted in several areas, including:

• Fire and emergency services
• Public works, including snow removal and fuel
• Equipment maintenance and infrastructure
• Policing costs, which increased by approximately $100,000 year-over-year

Council members acknowledged the challenge of balancing service levels with affordability for residents.

Council leans toward 2% tax increase

To address the budget shortfall, administration presented three tax increase options ranging from two to three per cent.

After discussion, council directed administration to prepare the final operating budget using:

• A two per cent residential tax increase, and
• A non-residential rate set at 1.7 times the residential rate

Councillors emphasized the importance of keeping increases predictable and manageable for residents, especially amid broader economic uncertainty.

At the same time, some members raised concerns about continued reliance on reserve funds to balance the budget and suggested future increases may be needed.

Final approval of the 2026 operating budget is scheduled for the April 28 council meeting.

Capital plan includes future pool and infrastructure upgrades

Council also reviewed the draft 2026 capital budget, which totals $23.6 million.

The plan includes anticipated annual grant funding of approximately $1.6 million through the Local Government Fiscal Framework and Canada Community Building Fund.

Key updates in the capital plan include:

• Increased funding for branding initiatives
• Reduced costs for the Public Works shop design
• Deferral of Highway 28 tree planting due to upcoming upgrades
• A major overhaul of the Southeast lift station to support wastewater infrastructure
• Cancellation of the previously designed aquatics facility

In place of the cancelled design, the Town has now included funding for a new swimming pool project, with construction anticipated to begin in 2028.

Like the operating budget, the capital plan will return to council for final approval later this month.

What comes next

Council will reconvene on April 28 to consider final approval of both the 2026 operating and capital budgets.

Residents can expect more clarity at that time on property taxes, infrastructure investments, and long-term financial planning for the Town.