Strathcona County reported a $16 million surplus for 2023.
This was reported during an April council meeting with it being one of the county’s largest surpluses in recent years.
Despite this, Mayor Rod Frank says he wasn’t deterred by the large sum, with the surplus only representing 4.5 per cent of the budget. However, in an interview with Sherwood Park News, Frank added that he’s glad they’re having a surplus rather than a deficit.
Municipalities are not allowed to run deficits, so having a surplus between three and six per cent is ideal, according to Frank.
The surplus dollars had been reallocated into road repairs and maintenance projects, with a total of $6 million going into the county reserves.
In an effort to be more proactive, the county is working on cutting the 2025 Budget by about $14 million. Discussions on reducing the budget begin next month.
