A new Alberta municipal funding system is being welcomed by the City of Lloydminster.
The Local Government Fiscal Framework (LGFF) will replace the Municipal Sustainability Initiative (MSI) as the main source of provincial capital funding for local governments.
“This structured framework will provide our city with a reliable funding source, allowing us to budget more appropriately and confidently plan for the future. I am confident Alberta’s new fiscal framework will be a positive change for our city and help us continue providing high-quality infrastructure and services to our residents, businesses, and regional visitors,” says Lloydminster Mayor Gerald Aalbers.
The more than 330 municipalities in Alberta will see an allocation of $722 million in capital funding available for the 2024-25 fiscal year.
The LGFF formula will increase municipal funding by 14 per cent for fiscal 2025-26 to a total of $820 million, according to Alberta Municipal Affairs.
