Medicine Hat – City Council approved its 2017-2018 Tax Supported Operating, Major Operating Expense and Tangible Capital Asset budgets at Monday night’s regular Council meeting.
The budgets provide the financial foundation for the City of Medicine Hat to deliver on Council’s six strategic priorities: economic development, infrastructure and amenities, social wellness, image and profile, fiscal management and city government. The budgets also support the assumptions and targets established by the Financially Fit for the Future Initiative as adopted by Council in May 2016.
| Tax Supported Operating
| Major Operating Expense
| Tangible Capital Asset
The budgets balance competing needs and priorities and respond to the community’s expectation that the City will ensure the appropriate services are delivered in the most effective manner in keeping with the City’s Mission, “to deliver value through exceptional public service”.
The 2017-2018 budgets were developed by applying the following key principles: financial sustainability and resilience; stable and predictable tax environment; user pay principle; market based pricing for utilities; and continued rehabilitation of aging infrastructure. As a result, municipal services have met the budget target to reduce their reliance on the energy subsidy by $6.8 million.
City Administration is recommending an estimated 3.5% annual tax increase (2017 and 2018) assuming an estimated 0.5% growth in the assessment base.
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For further information, please contact:
Commissioner of Corporate Services
City of Medicine Hat