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Drumheller-Financial-Indicators

 

 

Here you can read the Financial Indicators of Drumheller as produced by the Government of Alberta.

Drumheller financial Indicators report 2016

These are a series of indicators which compare the finances of the Town of Drumheller with other similar municipalities across the province.

The first few graphs illustrate the equalization payments calculated by the Province. These use property values in a municipality to calculate the payments made to funds such as education and seniors. You can find more information via this link. A guide to equalization payments 

Other information includes:

Property taxes compared to other municipalities - on page 10 

How user fees for recreation and permits,for example, compare to other similar towns in Alberta. Page 12

How spending is divide on different areas of business page 14

The municipality does have higher debt levels than average. However our asset ratio is 2.47 (this means our assets are worth 2.47 times our debt)  so we can pay our debt twice over if we had to. Page 23.

The final page is the list of towns included in the comparison. 

If you have any questions do not hesitate to ask mayor or council. They can be contacted at MayorAndCouncil@dinosaurvalley.com or 403 823 1339

 

 

 

 

Annual budget deliberations for the Town of Drumheller will take place in Drumheller’s Council Chambers at 224 Centre Street at 4:30 PM (upstairs) on December 5th.   All members of the public are welcome to attend.  Materials related to the Operating Budget will be provided at the meeting and posted later on the Town’s website.  Please be advised that the Council Committee Meeting schedule for this date has been cancelled.  

An announcement for local industries 

 

The Alberta Government have announced a new Tax Credit which is aimed primarily at diversifiying the economy including tourism and film industries.

The Capital Investment Tax Credit (CITC) is designed to encourage large-scale capital investments.

The CITC would offer a 10 per cent, non-refundable tax credit of up to $5 million to Alberta companies involved in manufacturing, processing and tourism infrastructure. It would have a budget of $70 million over two years and be provided on a competitive basis to companies making eligible capital investments of $1 million or more.$5 million will be allocated to Culture and Tourism to develop supports for Alberta's cultural industries.

In addition the Alberta Investor Tax Credit (AITC) has a budget of $90 million over three years and would be available for investments in companies that are engaged substantially in proprietary technology research, development or commercialization, interactive digital media development, video post-production, digital animation or tourism.

Tax credits such as the CITC and AITC already exist in many other Canadian provinces and the government state they have worked with business and investment leaders on the criteria for both tax credits and are designed to encourage economic diversification.

The application process for the CITC and AITC will be announced pending the passage of legislation this fall, with the first intake expected to begin in January 2017. The AITC will apply retroactively for investments made as of April 14, 2016.

If you have any questions or support in looking futher into these tax credits contact Julia Fielding Economic Development and Communications Officer at jfielding@dinosaurvalley.com or 403 823 1320.