Cochrane is on pace to finish 2025 with an anticipated surplus of about $1.1 million, according to the town’s second-quarter financial update.
Alvin Allim, the town’s chief financial officer, presented the report to council this week, covering the first six months of the year ending June 30. The update highlighted both operational and capital performance, along with a forecast for year-end.
Overall, revenues sat at 65 per cent of budget by mid-year, boosted by strong activity in safety codes, including building permit fees and inspections. Expenses, meanwhile, were at 36 per cent of budget, well below the 50 per cent benchmark expected at the halfway point of the year.
Administration says the lower expense figure reflects timing and seasonality, with some costs front-loaded into the first quarter—such as the full annual grant to the Cochrane Public Library—while others will occur later in the year.
Key factors behind the forecast surplus include a delayed first payment on the Horse Creek Sports Park/new school site debenture until the second quarter of 2026, stronger-than-expected revenues from development and assessment inspections, and lower preventive maintenance costs on municipal facilities.
RELATED STORIES
On the capital side, $119.9 million has been spent to date, representing 54.3 per cent of the total capital budget, including carry-forward projects. Of the $85.5 million in new capital approved for 2025, about $13.4 million—or 14.3 per cent—has been spent.
While accepting the report for information, council praised Allim for providing more detailed information in the quarterly updates.