As a way to help prioritize the current needs of the municipality and plan for the future, Woodlands County has adopted a 5-year financial strategy that focuses on cash balances and funded reserves.
The County says the plan will have a low impact on ratepayers and ensure basic levels of service are maintained.
Council passed the motion unanimously this week at their Council meeting to implement the 5-year plan, which will include a 15% reduction in the annual operating budget and see an annual increase of 3% to taxation. It was also moved that capital expenditures will not exceed $3 million without approval from Council.
In a statement, Mayor Ron Govenlock says, “In what are certainly challenging times, Woodlands County has come up with a balanced approach to manage our municipality’s future. As we work through the budget process and towards our goal of stability, we are thankful to our staff for their hard work and dedication, as well as our residents for their understanding and support.”
Administration will provide the proposed budget timelines for the 2020 budget process at the October 15th Council meeting.
Along with adopting the 5-year financial strategy, Woodlands County also adopted its 2019-2022 Strategic and Tactical Plan.
The plan allows Council and Administration to work together in a focused manner to achieve a vision for Woodlands County.
The strategic planning process will be reviewed and updated annually and includes a tactical plan to guide Administration, departmental plans to allow departments to contribute and execute tasks towards the plan, and employee performance metrics to guide and support staff activities.
The strategic priorities that Woodlands will focus on include financial leadership, infrastructure and asset management, regional collaboration, strategic economic development, and organizational excellence.
The complete 2019-2022 Strategic and Tactical Plan is available on the County’s website, woodlands.ab.ca.