The City of Lethbridge will receive an economic update at its November 14, 2023 meeting. (Photo: Lethbridge News Now)

By David Opinko

City of Lethbridge to receive economic update

Nov 10, 2023 | 11:41 AM

LETHBRIDGE, AB – The City of Lethbridge is set to receive a full update on its economic landscape.

On Tuesday, November 14, 2023, the City will hold its Economic and Finance Standing Policy Committee (SPC) meeting.

Chief Financial Officer and Treasurer Darrell Matthews will make an economic update presentation to members. He will cover topics such as economic conditions, taxation pressures, utility pressures, operating and capital pressures, and the impact on reserves.

Matthews said it will be an important meeting that will help to drive council decisions in the future.

“We look forward to providing the Economic and Finance SPC of City Council with options and tools to assist with future financial decisions to continue to meet the needs of the growing community,” said Mathews. “Our department continues to work hard within the challenging economic climate to deliver effective and efficient financial planning for Council, staff, and for our residents.”

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In addition, there will be about 20 presentations and submissions on a variety of matters from many different representatives and organizations.

Since 2021, the City of Lethbridge has been conducting annual reviews of its capital and operating budgets.

Mayor Blaine Hyggen said, “This updated process will help provide greater budgetary oversight, better connect the Capital and Operating budgets and help Council strategically focus on revenues and expenditures. It will also give Council more opportunities to review budgets during the course of their term.”

The Economic and Finance SPC meeting will begin at 9:00 a.m. on Tuesday, November 14, and will go until 12:00 p.m. The SPC will also meet on Wednesday from 9:00 a.m. to 4:30 p.m., as well as on Thursday from 9:00 a.m. until noon.

The meetings are open to the public and can be live-streamed on the City’s YouTube page.

The full agendas for Lethbridge City Council and SPC meetings can be accessed on the City of Lethbridge website.

READ MORE: Lethbridge News Now.

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