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AlbertabudgetmarksshiftawayfromenergyrevenuedependencetowardfscalsustainabilityTuesdayMarch3120153POLITICSBUDGETTownofFortSmithNoticeExpressionofInterestHostSocietyBoardMember-FortSmith2018ArcticWinterGamesAWGTHETOWNOFFORTSMITHisseekinguptosixdynamicindividualsinterestedinbeingmembersoftheHostSocietyCommitteeresponsibleforhostingthe2018ArcticWinterGamesintheSouthSlave.THEFORTSMITHCOMMITTEEMEMBERSwillworkwiththeHayRivercommitteememberstoformthedirectionalbodygoverningthe2018ArcticWinterGames.THISISAVOLUNTEERPOSITIONthatrequiresadedicatedcommunity-mindedindividualwhocansuccessfullyrallylocalvolunteersfortheirsupportandprovidedirectiontoasocietywithanoverallbudgetof7.3milliondollars.THESOUTHSLAVEAWGisoperatingonatighttimelineandtheFortSmithmemberswillbeexpectedtobeginworkingimmediately.PLEASENOTEAsportsbackgroundisnotnecessarilyarequirementtofllthesepositions.Qualifcationrequirementsshouldincludecommunicationorganizationandfinancialskillsaprovenbusinessrecordorasuitablecombinationofeducationandexperience.INDIVIDUALSINTERESTEDINAPPLYINGtobemembersoftheHostSocietyCommitteeforthe2018ArcticWinterGamesshouldcompleteanExpressionofInterestformandsubmitittotheTownofFortSmithnolaterthan500p.m.onFridayApril102015.Pleasecontacttownoffortsmithfortsmith.catoobtainanexpressionofinterestform.ApplicationswillbereviewedbytheCounciloftheTownofFortSmithwhowillselectthesuccessfulcandidates.FormoreinformationpleasecontactB.G.BradBrakeMayor-TownoffortSmithPhone872-8400E-mailmayor.brakefortsmith.caByDALICARMICHAELInuencedbyasteepdipinoilpricesthisyeartheAlbertagovernments2015-2016budgetsetsoutnancialgoalsforthenextdecadeastheprovinceattemptstolessenitsdependencyonoilandestablishamorediversiedeconomyactionsdeemedneces-sarybyPremierJimPrentice.Withoilpricesdecreasingover50percentbetweenJune2014andnowtheprovinceplanstoruna5billiondecitatrendthatwillbemaintainedforthenextthreeyearsuntilanexpectedbudgetsurplusin2017-2018.Italsoplanstotakeon9.746billionindebtovertheyeartonanceitscapitalplanandtoallowforinfrastructureprojectslikeschoolsandthetwinningofHwy63toFortMcMurraytocontinuemovingforward.WehavetoldAlbertansthattoughde-cisionswouldbeneededandBudget2015reectsabalancedapproachthatwillseeusreturntosurpluseswithinthreeyearsPrenticesaidinastatement.Thebudgetistherststepinalong-termstrategy.ThisisthekindofplanningandstabilityAlbertanswantforthelongtermwithimmediateac-tiontogetusontherightpath.Totalconsolidatedrevenueisexpectedtobe43.4billionthisyearabout5.6billionlessthanthe49billionestimatedinlastyearsbudget.Totalconsolidatedexpenseswillbe48.4billionor300millionlowerthanwhatwasforecast.OpeningandexpandingrevenuestreamsWhileAlbertanswonthavetodealwithaprovincialsalestaxtheywillhavetofacenewtaxinitiativesonawideberthofgoodsandservices.Fueltaxesincreasedbyfourcentsto13centsperlitreasofMar.27whiletheTax-ExemptFuelUseprogramandFarmFuelBenetstayedcappedatninecentsperlitre.Onthesamedaytobaccotaxesincreasedfrom40to45percartonofcigaretteswithequivalentincreasesonothertobaccoproducts.AlsoonMar.27changestoliquorrevenuesincreasedby10percent.Altogetherthoseelementswillgeneraterevenueofabout695million.AnewHealthCareContributionLevywillbephasedinstartingJuly1forAlber-tanswithtaxableincomesover50000toamaximumof1000in2016forAlbertanswithtaxableincomesover130800.Thiswillapplytoabout1.1millionresidentsandisexpectedtogenerate396millionin2015-16risingto530millioninnewrevenuewhenitiscompletelyimplementedin2016-17.Twonewpersonalincometaxbracketswereaddedwiththisbudget.Thoseearningtax-ableincomebetween100000and249999willpayalevyof11.5percentbythetimeitisfullyimplementedwithinthreeyears.Thoseearningabove250000willpay12percentwithinthesametimeframe.InsurancePre-miumsTaxrateswillincreaseonepercentagepointonApr.12016.Undertheuser-payprinciplesomefeesandchargesarealsoexpectedtoincreaseincludinglandtitlefeestransactionsandmotorvehicleregistrations.Thoserevenueinitiativesareex-pectedtogenerate1.5billioninnewrevenuein2015-16andabout2.7billionby2019-20.AsthosetaxesareincreasedtheChari-tableDonationsTaxCreditwillbereducedtoits2006level12.75percentattheout-setof2016.EvenwithalltheincreasedtaxationtheAlbertagovernmentwillstillboastthelow-esttaxregimeinthecountry.ResourcerevenuesexpectedtoshrinkKeepingtheshockfromtheoilindustryinmindthegovernmentwascautiousinplan-ningoutthefutureroleofresourcerevenuesinthe2015Budget.Revenuefromnon-renew-ableresourcesisexpectedtohitjustunder2.9billionin2015-165.9billionor67percentlowerthantheindustrybroughtinoverthepreviousscalyear.Atthistimenochangeswillbemadetotheexistingcorporateincometaxratesortheoilandgasroyaltystructurethoughthegovernmentisexpectedtoreduceitsrelianceonnon-renewableresourcerev-enuetosupportprogramspendingovertime.By2018-201975percentofexpectedresourcerevenueistobeusedforbudget-ingpurposes.Thenstartingin2019-2020andforthefollowingveyearsonly50percentofnon-renewableresourcerevenuewillbeusedforbudgeting.TheleftoverhalfwillbededicatedtorebuildingtheContingencyAccountCAdenedundertheFiscalSustainabilityActasacashstockthatwillbeusedtocoverde-cits.CurrentlytheCAsitsatabout6.5bil-lionthoughabout4billionwillbedrawntohelpcoverthepresentdecit.Additionallyresourcerevenueswillbeusedforreductionstocapitaldebtandin-creasingthevalueoftheAlbertaHeritageSavingsTrustFund.Inadditiontotheincreasedtaxationandresourcerevenuesthegovernmentplanstonanceinvestmentsinlong-termcapitalassetsthroughdirectborrowingoverthenextfouryears.Totalliabilitiesforcapitalprojectswillpeakaround3.1billionin2018-2019shrink-ingto11billionintheveyearsfollowing.Budget2015highlights7.9billionformunicipalinfrastructuresupportthroughtheMunicipalSustainabilityInitiativeandotherprograms6.7billionfortheprovincialtransportationnetworkwith4.6billionforconstructionand2.1billionformaintenanceandrenewal5.0billionforschoolswith4.1billionforconstructionand909millionformaintenanceandrenewal3.4billionforhealthcarefacilitieswithover2.7billionforconstructionand653millionformaintenanceandrenewal2.3billionforgovernmentfacilitiesandotherinfrastructurewithnearly1.9billionforconstructionand452millionformaintenanceandrenewal2.3billionforothercapitalprojectsincludinghousingwaterandwastewatermanagementandcommunityfacilitieswith127millionbudgetedformaintenanceandrenewalofseniorsfacilities1.1billionforpost-secondaryfacilitieswith580millionforconstructionand547millionformaintenanceandrenewal779millionforoodrecoveryandmitigationprojectsAnadditional1.6billionincapitalinvestmentself-nancedbyAlbertaHealthServicesschoolboardsandpost-secondaryinstitutionsforancillaryandotherprojectsWehavetoldAlbertansthattoughdecisionswouldbeneededandBudget2015refectsabalancedapproachthatwillseeusreturntosurpluseswithinthreeyears.PremierJimPrenticePhotoChrisSchwarzGovernmentofAlbertaAlbertaMinisterofFinanceRobinCampbellleftandPremierJimPrenticeturnedtohightaxationinthe2015CapitalPlantoadjustforfallingoilpricesandtheimpactonAlbertaseconomy.