Recap of Economic and Finance SPC November 13, 2024

Lethbridge City Council is meeting as Economic and Finance Standing Policy Committee this week for an overview of the current economic conditions and the impact they have on the City’s financial position and resources.

All recommendations from the Committee will be forwarded to City Council for potential approval at a regular meeting.

Here is a recap of Wednesday’s proceedings:

• City Manager Lloyd Brierley and Darrell Mathews, Chief Financial Officer and Treasurer, began with an introduction to the Annual Budget Review, followed by Mathews’ Economic Update presentation. He highlighted the following topics: local economic conditions; Alberta’s Consumer Price Index; taxation pressures; utility pressure; Operating and Capital pressures; labour market; overnight bank rate; and impact on reserves. The SPC recommendation is to accept the presentations as information
• Mathews presented the 2024 September Operating Forecast, which showcases operating budget variance for 2024 based on operations to September 30, 2024, and indicates the preliminary year-end projections to December 31, 2024. The SPC recommendation is to accept the presentation as information
• A submission on proposed Bylaw 6467- Amendment to Bylaw 5197 - The Fees and Charges Bylaw will head for first reading at City Council on November 26, with second and third readings at City Council on December 10
• A submission on Bylaw 6468- Amendment to Bylaw 6110 -The City of Lethbridge Safety Codes Permit Bylaw will head for first reading at City Council on November 26, with second and third readings at City Council on December 10
• An Omnibus Motion was brought forward to collectively recommend approvals of the following submission items: 

o   Make Your Mark one-time Grant Funding Opportunity

o   Five 2023-2026 Operating Budget Initiatives (City Wide Sponsorship Program, Parkland Growth and Capacity Impacts; Indigenous Programming four-year pilot program at Galt Museum and Archives; Indigenous Curator four-year pilot program at Galt Museum and Archives; and Environment Lethbridge Fee For Service)

o   Local Growth & Sustainability Grant Application

o   E-26 & E-27 Water and Wastewater 2022-2031 Capital Improvement Program (CIP) amendment

o   Tax Refund Request 4120024210001

o   2018-2022 Operational Review Final Update

o   2023-2026 Operating Budget Initiative Summary Report

o   2022-2031 CIP Summary Report 2024

o   Local Government Fiscal Framework (LGFF) Program Funding Update

o   Community Safety Coordinator Position (two-year term)

o   Graffiti Abatement

o   Lethbridge & District Exhibition Memorandum of Understanding (MOU) Update

o   Lethbridge & District Exhibition, Monthly Financial Reporting & Operating Forecast

• A presentation from Greg Adair, Chief of Fire and EMS on a request for Medical Supervisors. The SPC recommendation is to approve the addition of four Full-Time Equivalent (FTE) positions for purposes of maintaining the longevity of EMS services within the Fire & EMS department. They would be funded by the contract increase from the signed Master Service Agreement with Alberta Health Services
• A submission from Chinook Arch Regional Library on the cost benefit and value for service. The SPC recommendation includes the proposed approval of N-34 and N-66 Operating Budget initiatives with funding from MRSR One-Time Funding Allocations
• From a Closed Meeting report, the LDE Phase One and Third Party Review will come to the Economic and Finance SPC meeting on November 27

These recommendations won’t have any additional tax pressure or impact on the previously approved 2025 and 2026 tax rates, approved by Council from the November 2022 Operating Budget deliberations. 

The Economic and Finance SPC meeting was adjourned at 4:45 p.m. Wednesday so it will not continue into Thursday as previously scheduled.

Further background on the Annual Budget Review, Budget processes and City of Lethbridge financials is available here.