Council Clips – May 27, 2020
COVID-19 Financial Response
Today, at a special meeting, Council made the following amendments to the 2020 budget:
• Lost revenue related to recreation facility closures has been offset through staff layoffs, a hiring freeze, and a careful examination of operation expenses and reductions in some service levels.
• New costs associated with the pandemic response will be funded through a transfer of $470,000 from the tax stabilization reserve, and
• Reductions in the approved capital program and corresponding reserve transfers will reduce the municipal property tax amount to 2019 levels.
Detailed information, including service level and capital project reductions, can be found at Actions Taken by the Town of Canmore in Response to Covid-19