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Business plans and budgets 2012-2014: Civic Partners, Council, Corporate Programs, Calgary Parking Authority

On Nov. 29, Council approved the 2012-2014 business plans and budgets. Below is a summary of the approved business plans and budgets.

Highlights of Council’s approval (Nov. 29, 2011)

Civic Partners

  • $225,000 increase to the 2012 base funding of the Calgary Arts Development Authority (CADA), and a $220,000 one-time funding each year for cSPACE projects.
  • Additional one-time funding of $400,000 each year for the EPCOR Centre for the Performing Arts or until a naming sponsor is identified.
  • Additional $150,000 of one-time funding from the Fiscal Stability Reserve in 2012 and 2013 for the Calgary Sports Tourism Authority.
  • Additional $141,000 of one-time funding from the Fiscal Stability Reserve in 2012 only for TELUS Spark, Calgary’s new science centre.

Council

  • Reinstate $102,000 in base budget reduction in 2012.

Corporate Programs

  • Approximately $36 million drawn from the Fiscal Stability Reserve for approved departmental one-time and contingency funding

The Fiscal Stability Reserve will have a balance close to $200 million by the end of 2014. Funding drawn from the Fiscal Stability Reserve has no impact on the property tax rate; however, it reduces the reserve fund available to address unplanned or one-time events. Investment income and any surplus from each year will be reinvested into the Reserve.

Approved business plans and budgets

See the approved three-year budgets for:

Civic Partners

Council

Corporate Programs

Calgary Parking Authority