Projected financial shortfall could see city halt spending on new projects
New projects could take a backseat to maintenance and renewal work in Edmonton over the coming years as city council tries to rein in spending and adapt to new financial pressures.
Councillors received an update on city finances Monday morning as they look for ways to cut down the projected 13-per-cent property tax hike projected for 2025.
This year has presented new financial challenges, including firefighters and bus drivers working more overtime than expected, partly because of unfilled jobs and staff on stress leave.
Gasoline prices are up and revenue from certain construction permits and transit is down along with funding from the province.
The city is also paying down debt for money it borrowed to build several recent major projects such as recreation centres, light-rail transit and roads.
"All of these pieces are just adding up," Ward Papastew Coun. Michael Janz told media. "It's kind of like we moved into the new home, we redid the kitchen, we redid the garage, we put in a hot tub, and now, there's no money to spend for the next decade."
City staff are projecting a $34-million deficit this year.
Multiple councillors say the city needs to make structural changes to how it operates as a corporation.
Suggestions include a tighter focus on core city services and dedicating most new spending to maintenance work for a few years.
CTVNews.ca Top Stories
live Watch live as JD Vance and Tim Walz face off at vice-presidential debate
Sen. JD Vance and Gov. Tim Walz are going face to face tonight for the first and only planned vice-presidential debate of this U.S. election cycle. Watch the debate live on CTVNews.ca along with real-time commentary and analysis from journalists and experts.
Number of Iranian targets 'on the table' following attacks on Israel, ambassador says
Israel's ambassador to Canada says the international community needs to send a 'concise, concentrated, focused message to the Iranian regime,' following attacks on Israel Tuesday.
Netanyahu says Iran 'made a big mistake,' vows retaliation following attack on Israel
Iran launched at least 180 missiles into Israel on Tuesday, the latest in a series of escalating attacks in a yearslong conflict between Israel and Iran and its Arab allies that threatens to push the Middle East closer toward a regionwide war.
Alberta Premier Danielle Smith comes under fire for comments about chemtrails
Alberta Premier Danielle Smith's office says her recent comment about chemtrails doesn't mean she believes the United States government is spraying them in the province.
'It's ridiculous': Kelowna father furious after violent attack on his 13-year-old daughter
A father in Kelowna is furious after his 13-year-old daughter was brutally beaten on Gyro Beach. He is calling for criminal charges in the devastating attack, which was caught on video by multiple bystanders.
Lack of ambition in Canada creating '600-pound beaver in the room': Shopify president
The president of e-commerce giant Shopify Inc. wants Canada to address a problem he calls "the 600-pound beaver in the room."
Trudeau government survives another Conservative-led non-confidence vote
Prime Minister Justin Trudeau's Liberal government survived another Conservative-led non-confidence vote on Tuesday, the second in less than a week. This, the same day the Bloc Quebecois had an opportunity to table a non-confidence motion of its own, opting instead to push the Liberals to support one of its key demands.
13-year-old girl charged in deadly stabbing of 7-year-old sister after argument
A 13-year-old girl has been charged with allegedly murdering her s-year-old sister in Taylor over the weekend.
Man 'precariously hanging in some shrubs' rescued off side of B.C. mountain
A small bush on a ledge appears to have "miraculously" saved the life of a climber who fell down the steep slope of a mountain, according to B.C. search and rescue crews.