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With summer now in full swing, the Government of Alberta remains committed to its plan for our province's future. By limiting spending, drawing on cash reserves and continuing to invest in public infrastructure, Alberta's budget deficit has been substantially reduced and we are emerging from the global recession in one of the strongest financial positions in North America. Going forward, we will continue to focus on competitiveness, innovation, environmental stewardship and protecting Alberta's most vulnerable citizens all while ensuring that our budget is back in the black by 2011. |
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Alberta's 2009-10 deficit down to $1 billion
2009-10 Annual Report Highlights
- Alberta posted a $1-billion deficit in 2009-10, $3.7 billion lower than forecast at budget.
- The reduced deficit is due to relatively flat expense and increased revenue.
- Revenue was $35.7 billion, $4 billion higher than forecast at budget, mainly due to higher oil sands and oil royalties, investment income and corporate income tax revenue.
- Expense was $36.7 billion, $303 million higher than forecast at budget. The increase was mainly due to higher disaster and emergency expense, partly offset by lower operating expense.
Tight controls on spending and higher-than-expected revenue helped reduce Alberta's 2009-10 deficit to $1 billion - less than a quarter of the original estimate of $4.7 billion.
Revenue from oil and oil sands royalties, investment income and corporate income tax were all significantly higher than forecast in Budget 2009 while expense was up only slightly due mainly to assistance for disasters and emergencies. The resulting lower deficit means less will be drawn from the Sustainability Fund, which stood at $15 billion at March 31, 2010. (The Heritage Fund is not the Sustainability Fund, and will not be used to cover the deficit).
While the 2009-10 deficit is considerably smaller than expected, Alberta's revenue picture in the current fiscal year remains highly uncertain, with natural gas prices low, and oil prices, financial markets and the Canadian dollar fluctuating on a daily basis. As a result, there is no reason at this time to expect any improvement in the forecast deficit of $4.7 billion for 2010-11.
The Alberta government has a clear plan for a strong economic recovery. An important part of The Way Forward is maintaining support for programs and services Albertans need most, such as health care, education and safe and vibrant communities. For more information on the plan visit www.Alberta.ca. |
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Alberta hosts energy, economy, environment discussions
More than 500 delegates from the U.S. and western Canada came together to discuss shared policy issues around energy, economy and the environment at the Pacific NorthWest Economic Region's (PNWER) 20th Annual Summer Summit July 16-20 in Calgary.
Set against the exciting backdrop of the Calgary Stampede, the summit brought together legislators, business leaders and policy experts from Alaska, British Columbia, Idaho, Oregon, Montana, the Northwest Territories, Saskatchewan, Washington and Yukon. Topics of discussion included renewable energy, economic development, environment, border security, disaster resilience, sustainable development, mental health and addictions, water policy and livestock health.
While at the summit, delegates also had the opportunity to take in local attractions including the Calgary Stampede, a tour of the Canada Olympic Park, the Royal Tyrell Museum and Banff/Lake Louise.
Other highlights from the Summit agenda include speeches from Premier Stelmach, Alaska State Senator Lesil McGuire, U.S. Ambassador to Canada David Jacobson and Evans. During the summit, Mel Knight, Minister of Alberta Sustainable Resource Development was sworn in as the next president of PNWER. Energy Minister Ron Liepert and Environment Minister Rob Renner each led a policy working group during the event.
PNWER is a public-private partnership dedicated to encouraging global economic competitiveness and preserving the world-class natural environment in the Pacific Northwest. For more information about PNWER or to see the full summit schedule, visit www.pnwer.org/2010annualsummit. |
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Three new projects help Calgary youth make positive choices
Three new community-initiated crime reduction projects will help keep communities safer by helping children and youth make positive choices in their lives. The Start Smart Stay Safe project will develop learning materials on crime and safety for students at 20 Calgary schools and a complementary program for parents. The Assisted Reintegration from Custody to Home project (ARCH) will help young people transition from open custody in a group home to living in their communities.
The Start Smart Stay Safe projects will receive almost $3 million in funding over the next three years through the province's Safe Communities Innovation Fund (SCIF). The Assisted Reintegration from Custody to Home (ARCH) project will receive $430,454 over three years.
The projects are led by the following Safe Communities partner ministries: Solicitor General and Public Security, Alberta Justice, Alberta Health and Wellness, and Education.
The Safe Communities Innovation Fund builds on the work of the Safe Communities initiative to address crime on an immediate basis, as well as over the long term. For more information, please visit www.safecommunities.gov.ab.ca/scif. |
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Province partners with communities to build more housing
The province is partnering with municipalities, not-for-profit groups and the private sector to build homes for low-to-moderate income and homeless Albertans.
The $188-million call for proposals issued by the Alberta government, will help fulfill the province's commitment to add 11,000 affordable housing units by 2012.
The province will continue to work with municipal governments to ensure successful housing projects align to local priorities and reflect community needs and expectations. As part of the application process, applicants are asked to demonstrate the need for affordable housing in their community and identify how they will meet specific non-market housing conditions.
For a home ownership or rental housing development to be considered affordable, rental or home ownership payments must be at least 10 per cent below market rates. All successful projects are expected to maintain affordable rents or payments for a minimum of 20 years.
This is the fourth year Alberta has provided capital funding for affordable housing through the Request for Proposals process. In 2007, Alberta committed to supporting the creation of 11,000 new units by 2012. With 8,700 units already in development or available to Albertans, government is on track to meet its goal. To-date, 940 of these units have been developed specifically to provide permanent housing for the homeless.
The application process closes on Sept. 24. Successful projects will be announced in late 2010 and early 2011. Application forms and program details are available at www.housing.alberta.ca. Municipalities may also access the information through the Municipal Grants Web Portal on the Municipal Affairs website at www.municipalaffairs.alberta.ca. |
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