The Town of Diamond Valley Council has approved the 2024 municipal Operating and Capital budgets.
The Operating Budget, endorsed during a regular Council meeting held on December 6, 2023, reflects a zero percent tax increase—a significant achievement considering the current economic climate.
Mayor Barry Crane remarked, “Council has been diligent in finding a balance between being fiscally responsible and managing the inflationary pressures of operating a municipality. We take pride in keeping this budget as low as possible to lessen the burden on households and businesses by finding organizational and financial efficiencies. We know growth is coming and we will continue to listen to taxpayer concerns and ensure they are involved in setting the vision for our community.”
The approved $14.15 million Operating Budget includes a minor draw of $46,500 from the general reserve to cover the anticipated deficit. With the approved Operating Budget, Council aims to create efficiencies in Town services to the public. The budget includes the alignment of utility rates for water, wastewater, and stormwater between the two former municipalities, and supports various municipal partners such as Sheep River Library, Sheep River Regional Utility Corporation, Westend Regional Sewage Services Commission, Foothills Cemetery, and Foothills Regional Emergency Services Commission.
Looking ahead, forecasted budgets for 2025 and 2026 stand at $15.60 million and $16.07 million, respectively.
The $4.58 million Capital Budget was authorized at the regular Council meeting on January 17, 2024. This budget prioritizes operational and capital investments to ensure long-term sustainability, and focuses on projects aligned with the Council’s Strategic Plan. Council also approved the 10-year Capital Plan forecast included in the presentation. Most of the 2024 capital projects will be financed through grants and reserves.
2024 Capital Investment Highlights:
- Road construction with new sidewalks, water, and sewer pipelines along 1 Avenue NW- NE from 4a Street NW to 1 Street NE
- Speed radar signs and LED stop signs for increased traffic and pedestrian safety
- Swimming pool shower and equipment upgrades
- Upgraded security access for Town facilities
- Facility backup generators; firehall and water tower
- Replacement of arena refrigeration system
- Bailey Ridge lift station upgrades
Council sets the property tax bylaw in the spring, at which time other factors such as school and seniors requisitions will be known, as well as the final property assessments, all of which have an impact on property taxes.
For those interested in learning more about the 2024 Budget, resources are available
on the municipal website. For more information, please contact the Town of Diamond Valley.
Media inquiries may be directed to:
Mayor Barry Crane
Town of Diamond Valley
Mayor@diamondvalley.town
Todd Sharpe
Interim Chief Administrative Officer
403-933-4348
CAO@diamondvalley.town
