The 2024 Final Operating and Capital Budget has been approved by the Council. Administration has minimized the impact of the Tax Rate on the residences and business community by a 2% increase in the Tax levy based on the increase in the assessment roll and an increase to the minimum tax rate from $1000 to $1050. The mill rate for the 2024 taxation year will remain consistent.

In a review of the Capital Projects in Q1 2024, pending a final report, there is a requirement for further review in Q3 for additional discussions on a five-year capital plan. For the current 2024 Capital budget, it was identified that several asphalt overlays are required. Administration has advised that a proposed overlay project should move forward for the 2024 Capital Budget Year. Funding for this project will come from the existing grant programs.

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Council and administration confirmed that the mill rate for both Commercial and Residential properties will remain the same in 2024. An increase to the assessment roll provides a modest 2% overall increase within the budget, keeping the Town of Sedgewick in the right fiscal spending balance and conditions to meet the community’s needs.

On December 21^st, 2024, at the Regular Schedule Council meeting, Council approved a condensed workweek schedule for the Town Office Hours. The Town of Sedgewick Office hours will be adjusted to Monday to Thursday, 8:30 to 4:30 pm, opening during the lunch hours. The Town Office will be closed on Fridays. This condensed work week will not affect normal Public Works operational hours. The Town of Sedgewick Public Works Emergency phone number will remain 780-384-3911 during all hours of operations and weekends.

On December 21^st, at the Regular Schedule Council meeting, Council passed the New Fees and Charges Bylaw to take effect on January 1st, 2024. There is no planned increase in the Water and Sewer cubic meter consumption rates in 2024, nor any increase in the bulk water and the recreation and culture fee. To facilitate the Town of Sedgewick’s overall operations, the recommended changes are to increase flat rate infrastructure fees and maintenance fees and introduce a Gas Distribution monthly fee on all monthly Utility billings, which will increase the average utility fees by $15.00 per month.

On December 21^st, at the Regular Schedule Council meeting, Council approved the Interim 2023 Operating Budget at $3,063,892 with amortization ( a non-cash item) and proposed transfers. Council is reviewing the possible Tax levy increase of 3% overall but has directed the administration to continue to find efficiencies and savings within the 2024 budget. The final capital and operational budget will be reviewed in May 2024 with the setting of the Tax Rate Bylaw.