Summary of Town Debt

At the end of 2024, the Town had $27mln outstanding debt: and annual debt servicing was approximately $1.9 mln. The debt accounted for 65% of our allowable limit.

o   Wastewater trunk main (2020) - $231k. final payment 2026

o   Olds Municipal Library (2009) - $198k. final payment 2030

o   O-NET (2018) -  $9mln. Final payment 2031

o   NW Development (2017) - $1.7mln. final payment 2038

o   Rotary athletic Park (2018) - $2.4mln. final payment 2038

o   70 Ave/Hwy 27 upgrade (2018) - $1.5 mln. final payment 2039

o   Emergency Services Bld (2011) - $2.2mln. final payment 2042

o   Operations Centre (2019) - $9.6mln. final payment 2050

o   By 2031, debt is expected to be $12mln

Looking to the future over the next 10 - 15 years, three projects that may require borrowing:

• North Reservoir, currently 65 years old, will upgrade/replace

• Sportsplex planned maintenance and repair. Sportsplex is currently 44 years old

• On-going below ground infrastructure maintenance and repair. Surveillance work is on-going on a water and sanitary system that is aging in real time

  
  

A key component of planning for and utilizing debt wisely is a robust assess management program, which the Town is now in the early stages of implementing.