The Regional Municipality of Wood Buffalo council will examine the current operating budget in an effort to cu around $14 million out. This is a precaution in case oil revenues do not pick up and the municipality faces future losses of revenue as a result of lower oil prices. At an audit and budget committee meeting a plan was proposed to eliminate 2.8% of the operating budget, an amount that is a little more than $14 million. The money used to slash the budget numbers will come from discretionary spending that may include contracted resources for projects that are not critical, training, business travel, and goods and supplies ordered. According to Sheldon Germain, who is the committee chair, “I’m very appreciative that we looked at our 2015 operating budget and found close to $15 million dollars. We’re going to continue to monitor the revenue side and the cost side at the end of the first quarter and see if there’s other areas or opportunities that we can be more efficient.”

The council for the Regional Municipality of Wood Buffalo will vote on the discretionary spending cuts in the operating budget at the meeting on March 24, and further options may also be possible once the first quarter fiscal report is available. During the meeting Germain inquired about whether the administration could provide a plan showing what the operating budget would look like with cuts of 5%, 7%, and 10%. RMWB Chief Financial Officer Elsie Hutton explained that the analysis for these plans would not be possible until the first fiscal quarter report is provided.