Budget 2025
October 17, 2024
As we approach 2025, our city faces a financial challenge: a projected budget shortfall of $17 to $19 million in our operating budget. These are not easy numbers to face with tough decisions to make. Your input matters in these decision.
Dear Red Deerians,
As we approach 2025, our city faces a financial challenge: a projected budget shortfall of $17 to $19 million in our operating budget. These are not easy numbers to face with tough decisions to make. Your input matters in these decision.
At a time like this, the voices of Red Deerians are essential. How we handle this budget crisis will directly impact the programs, services, and infrastructure that define the character and livability of our community. That’s why I am calling on you to get involved and share your perspectives on what our City’s financial priorities should be.
We are committed to making responsible budget decisions, but we must also ensure that the services and support you rely on remain intact. To do this, we need your input. There are multiple ways for you to share your ideas through Engage.RedDeer.ca. Whether it’s completing a survey, posting to our idea wall, or using our innovative “Fund It” tool, that lets you decide how you would spend tax dollars on various city services, your input will shape our approach.
Our City is facing significant financial pressure, and we’ve already identified 24 potential changes aimed at bridging the gap. In addition to these, we are exploring new funding sources, cost-saving measures, and changes to property taxes.
For context, property taxes currently generate 38% of our city’s revenue, while utility user fees contribute 37%. Council recently passed the utilities budget, which will increase revenues, but difficult decisions still lie ahead when it comes to potential adjustments for property tax. For example, if we wanted to raise $17 million in revenue entirely through taxes, a typical single-family home valued at $345,000 could see an increase of $19.50 to $26 per month.
These choices are not made lightly, and they underscore why your voice matters. Your feedback will guide City Council’s decisions as we move forward, through a "What We Heard" report summarizing public input.
I urge you to visit Engage.RedDeer.ca and take part in this important conversation. Together, we can navigate this financial challenge and continue building a thriving community that works for all of us.
Thank you for being part of the process. Let’s tackle this challenge as a united community.
Sincerely,
Mike Olesen
General Manager, Growth and Finance
City of Red Deer