Spring Budget Adjustment 2022
The Spring 2022 Supplemental Operating Budget Adjustment (SOBA) is coming to Council April 19.
The SOBA is an annual report that comes to Council to formalize that tax rate that was previously approved by Council in the fall of the previous year (2021). It also aligns with the 4 year budget that was determined in 2018 for the 2019-2022 municipal budget cycle.
Council will review any adjustments prior to the final confirmation of the 2022 tax rate which takes into account any emerging items (from fall deliberation), such as changes to provincial or federal budgets.
Administration is recommending the tax rate for 2022 be maintained at the amount approved in the fall at 1.91%. This includes 1.4% for municipal services, 0.1% increase for Edmonton Police Service, 0.3% for alley renewal, and 0.1% for Valley Line LRT. This is the one of the lowest municipal tax increases in Alberta and 0.6% lower than what was contemplated in the original 4 year budget. Given inflation pressures and no increases from the province in MSI funding, I am extremely proud of this Council for keeping the tax increase low.
The next 4 year budget will be debated this fall and it’s going to be challenging. Please know there will be many opportunities for ward residents to provide input to me on this discussion. Including now - what city projects/services are important to you as I prepare for the Fall 2023 - 2026 budget deliberations?
