2024 Municipal Budget

2024 Municipal Budget

Swift Current City Council approved the City’s 2024 Municipal Budget on the recommendation of Mayor Al Bridal during a special meeting of Council on Tuesday, January 16, 2024.

The 2024 Budget comes in at $84,783,436 with $73,073,186 making up Operating & Utility Expenses and the remaining $11,710,250 comprising Capital Expenditures. Of the Capital Expenditures, $2,315,000 is allotted for projects that are dependent on receiving grant funding, and therefore would not proceed without grant approval. 

When it comes to new debt, $600,000 is identified for grant dependent projects only, and would only be taken if grants are awarded to the City for these projects. Council has instructed that the City will not be taking on any new debt otherwise. 

In fact, the City will see a decrease of $510,000 in principal and interest payments on long-term debt. In 2024, the City will retire two debt facilities – one in General Operations, and one in Water and Wastewater Utility. 

Of the Operating budget, a pair of contributing factors that offset its total are increases in Revenue Sharing from the Provincial government, and an increase of facility revenue including the success of the Chinook Golf Course. The City has indicated that the Water and Wastewater Utility Rate will increase an additional 1% in 2024, over and above the annual 2% increase provided for in the bylaw. 

Increases in payroll costs are the result of annual step increases and union contracts, as well as bringing two staffing positions back within the City’s roster instead of contracting out services at S3 Arenas and the Swift Current Museum. The increase in fees and services is primarily the result of increased policing costs and software subscriptions. 

There are increased maintenance costs in the Public Works Department, as well as increases in carbon charges, utility costs for water, natural gas, electricity, fuel costs, and insurance premiums. 

The City of Swift Current is requesting a 3.24% property tax increase in 2024. For a homeowner with an average residential assessment of $282,000, they can expect an average annual municipal tax increase of $61, or just over $5/month. 

View the entire budget booklet here; 2024 Municipal Budget
View the news release about the budget here: Swift Current City Council approves 2024 Municipal Budget - January 16, 2024