Banff Town Council will review the municipality’s 2025 financial results at their meeting on April 14, 2026, which show the town ended the year with an operating surplus of $73,383.
Despite an approved operating budget of nearly $80 million, the town recorded total revenues of $81.97 million for the year. This figure surpassed budget expectations by $1.97 million.
The town also saw savings on the expense side of the ledger, with costs for wages and benefits coming in $774,000 under budget. This was attributed to hiring delays and staff turnover across various municipal departments throughout 2025.
As a result of these financial outcomes, the town’s total reserves have grown to $28,655,992, an increase from the $24,260,857 balance held at the start of the year. This reserve total includes $11,108,873 in operating reserves, $13,171,559 in capital reserves, and $4,375,560 in restricted reserves.
At the upcoming meeting, council will consider a recommendation to transfer the $73,383 operating surplus into the Budget Stabilization Reserve. This action follows a recent practice of using annual surpluses to bolster the town’s financial safety net.
