Promoting transparency and accountability for the county’s financial operations.
Big Lakes County is committed to providing stakeholders with relevant and reliable information to support decision-making. The documents below include the consolidated financial statements of the county and provide an account of the stewardship of our financial activities in support of delivering programs and services to residents, businesses, and industry.
The consolidated financial statements for Big Lakes County are prepared in accordance with Public Sector Accounting Standards established by Chartered Professional Accountants Canada, and audited by independent private-sector auditors. The financial statements and auditors’ report satisfy a legislative reporting requirement as set out in the Municipal Government Act of Alberta.
The attached files are a detailed detailed estimate of the County’s known expenses, expected future costs, and forecasted income over the course of the operating year.
The operating budget deals with the day-to-day costs required to run the county: maintaining roads and facilities, providing fire rescue services, as well as providing social programs and leisure activities to make Big Lakes County a great place in which to live, work and visit. The operating budget identifies the costs for these services and the sources of revenue to pay for the services, including property taxes, utility rates and user fees.
The capital budget is for the new infrastructure that the county builds such as roads, bridges, water treatment facilities, and fire halls. The county invests in new infrastructure every year to meet the needs of a growing population and economy, and repairs existing infrastructure to maintain the high standards that county residents expect. The main funding sources to build and renew the infrastructure required for a progressive and modern municipality include grants from provincial and federal governments, the County’s reserves, and debt financing.
County council and administration begin planning for the two budgets well in advance. Council establishes budget guidelines to help determine priorities, which Administration uses to prepare draft budgets for Council to review and finalize in November and December.