Town of Olds Continues 2016 Budget Deliberations

Council and administration held the second of their two days worth of budget deliberations for next year on Monday, December 7th.

A proposed tax rate change bylaw and an interim operating budget for 2016 will be brought back to Olds council next Monday, December 14th.
 
Chief Financial Officer Garth Lucas says, at this point, council remains in favour of covering the cost of utilities on a user pay basis.
 
 
He adds, Olds council still has plenty to consider including potential changes to the base rates or the consumption rates or maybe even both.
 
Lucas says they know what the commission costs are, and some of them are set to increase as of the first of January, 2016.
 
 
He lists the projected interim budget revenue required for next year to cover the cost of utilities at about $8.35 million dollars.

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