A municipality’s budget works much in the same way a household budget works. Similar to a household, a town has a set income and must allocate funds to operating costs and improve-ment projects. Operating costs include things like employee wages and insurance, but also take into account things like utilities (the Town pays for the electricity and gas it uses, in the same way residents do). Most households have one or more family vehicles, and some even have recreational vehicles. The Town also owns vehicles and equipment, and each year it must consider whether the cost of maintenance outweighs the cost of purchasing new equipment. These purchases will be included for consideration as part of the proposed budget. Finally, many homeowners set aside money for home repairs and even new projects. A homeowner may plan to replace an aging roof or may plan to add a garage or a shed. The Town goes through this same process, allocating funds for repairs to existing facilities and planning for the addition of new facilities.

The Operations Budget is prepared to a 3-year outlook, but reviewed and approved yearly. Capital budgets are prepared for a 5 - 10 year outlook per the Municipal Government Act (MGA) and submitted (the current budget year) to the Provincal government when preparing grant applications for funding. To learn more about the MGA go to www.mgareview.alberta.ca

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