The Chief Financial Officer (CFO) is Jacqui Molyneux.
The CFO is responsible for the Town’s financial management, budgeting, purchasing and cost control.
On January 13 Town Council approved the 2025 Operating Budget. The operating budget covers the day-to-day expenses associated with the provision of Town services including for example equipment repairs & maintenance, building repairs & maintenance, utilities, contracted services, insurance, and employee salaries.
The Town has seen many increases in added costs due to the relatively high rates of inflation we are now all experiencing. Despite this, the 2025 budget provides for a minimal (1%) increase in municipal property tax revenues.
The total increase in municipal taxes has been 4% over the past 6 years (2020 - 2025).
These tax increases are very favourable if comparisons are made with almost all other municipalities in Alberta.
In March the Town will receive the individual property tax assessments from the tax assessor. Any increase in overall property values will be offset by an adjustment to property tax rates (mill rate) to provide an overall 1% increase in tax revenues for all residential and non-residential properties within the Town.
For the past four years the Town has received a requisition from the Provincial Government for the cost of policing in the Town. The cost for 2025 is $65985.00 an increase of approximately 50% over the 2023 requisition of $44321.00. This increase in the cost of policing is passed on to all residents.
Since 2017 the Town absorbed the annual increase in the rates charged to the Town by both the Mountain View Regional Water Commission and the South Red Deer Regional Wastewater Commission. In 2023 and 2024 the Town passed on the incremental increase in these rates. In 2025 the budget continues to pass on these increased rates (effective April 1, 2025) as a cost recovery exercise.
The 2025 budget therefore sees the water rate (per m³) increase by 15 cents and the wastewater rate (per m³) increases by 11 cents.
There are changes in the basic flat rate service charges for water and wastewater from $10.00 to $15.00. The solid waste flat rate remains unchanged at $11.00 per month.
There has been no increase in the ATCO or Fortis franchise fee rates (22% and 15% respectively) - these have remained unchanged for many years.
The 2025 Capital Budget will be prepared over the forthcoming weeks.
Bowden like many other small communities is faced with many challenges regarding the state of its facilities and infrastructure. The capital budget attempts to align itself with the strategic priorities set by Council and with the need to repair or replace critical Town assets as identified within our Asset Management Plan.
With consideration of preparing for future needs the Town will prepare a financial plan that aims to contribute to capital reserves in order to maintain the long-term viability of critical items of infrastructure.