The Town of Drayton Valley will be ending the year on budget.
Drayton Valley town council received the Town’s third quarter financial report at the end of November.
Administration reported that tax revenues were down, due to several large tax assessment appeals.
However, some expenses were down, such as council expenses. With the pandemic, Town councillors are not travelling to as many conferences, so the Town is saving money.
Mayor Nancy Dodds asked how much money the Town will have in the bank at the end of the year. Administration estimated between $15 and $20 million, as expenses for the new Aquatic Centre may eat into reserves.
When Town council pressed administration to come up with a headline for this report, Administration said the Town will be ending the year on budget.
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