Significant Local Economic Events

There are two significant economic events in 2022 that impacted the Town of Rocky Mountain House. First is inflation and rising interest rates across Canada. The year ended with inflation sitting at approximately 6.8%. This has impacted cost of goods and plans for future budgeting. Secondly, with supply chain issues and rising costs, the cost of capital projects has been coming in over budget for several projects. This will have a long-term impact if the cost of capital replacement rises significantly.

Prospects for the Future

The Town of Rocky Mountain House continues to provide sound financial stewardship to the residents and business of this municipality. The last three years have laid a groundwork of strong financial practices and improved levels of budgeting and financial operations. A 10year financial capital plan that is fully funded has been developed and approved. This enables the Town to continue maintaining infrastructure and services while knowing that the financial base required is being preserved for the future.

Council’s strategic planning, service level review and budgeting process allows the Town to ensure its own operations are running as efficiently as possible. When new opportunities arise, the Town is able to react quickly.