The City of St. Albert reported a $4.58 million surplus in their 2023 budget.
This surplus was brought on by several factors, including vacant positions for city staff, and lower costs for fuel purchases. In the fourth quarter of 2023 alone, St. Albert was $2.1 million under budget.
This extra money will be split between the municipal land a facilities reserve, and the capital reserve, with the surplus money almost doubling these reserves.
These reserves serve several purposes, from refurbishing city facilities to purchasing land amd even capital expenditures. Each reserve should be boosted by over $2 million.
Although a surplus of $4 million seems like a lot of money, it only represents about two per cent of the city’s annual budget.
