City Notebook: City cash confusion calls for restructure

By Collin Gallant on August 24, 2024.

More money, more problems, is a statement most of us would like to take out for a test drive.

This fall, Medicine Hat city council will have to kick tires on a proposal to change how cash in its large bank account is earmarked, and Hatters should be along for the ride.

Proposals laid out this week address a failing in the city’s $200-million Heritage Savings Reserve, created for a rainy day by a former council, kinda like the Alberta Heritage Savings Fund.

Unfortunately just like the province’s fund, there’s no formal guidelines about what constitutes rain, when the cash can be accessed, or for what purpose.

The recent verve has been to use its returns rather than raising taxes to fill the remaining budget gap created when the natural gas dividend evaporated.

The News covers the issue in this edition, but we’ve pointed out the rudderless nature of the fund several times over the years.

The fact remains that the key factor in successful investing is discipline, both to sock money away – rather than spend it now – and the patience to let it grow.

Council will have to answer to residents whether it’s raining, or whether a $5-million annual dividend from the fund is a suitable umbrella.

Press releases we get

The wait is over! Behr Paint has announced that the shade of the year for 2024 is “Rumours,” according to a note in the old inbox.

It is “a deep and dynamic ruby red that empowers DIYers, designers and paint professionals to create impactful colour moments,” a release reads.

This is a surprise win after the company selected a shade named (get this) “Blank Canvas” as its paint mix of the year for 2023.

Quick ones

– We’re hearing a lot of buzz among the cattle auction crowd who predict this fall could see beef prices skyrocket… coming to a grocery store near you soon after.

– The Oilers’ playoff run and cool weather in June dampened the attendance figures of the Medicine Hat Mavericks this year, as revealed by the News sports staff this week, but attendance averaged 1,220 per game – about even with 2023. Now, if we could only boost the figures at Co-op Place this year while the Canadian Hockey League owners are deciding on a 2026 Mem Cup host city (see a look ahead).

Out and about

This weekend’s fun is a little further out with Dunmore Days and the Battle Creek Showdown race at Elkwater on Saturday. Also, it’s Cornfest in Taber (Hey, is anybody doing a local corn roast this year?)

Porchfest in the Hat is a go next Saturday, as is the Irvine 20-Mile Rodeo.

There’s a tractor pull leading into the weekend and a Gymkhana on the Sunday.

A look ahead

It’s the final hockey-less week of the summer as Western Hockey League training camps fire up on the holiday weekend and the Tigers are set to play the Hurricanes in Lethbridge on Tuesday, Sept. 3. (That’s the next city council meeting, for what it’s worth).

We’re hearing more about provincial politics these days, but the Alberta legislature won’t resume with the fall sitting until Oct. 28.

The House of Commons is bak in session Sept. 16.

100 years ago

A hotel owner is not a guest of his own establishment, a Calgary court ruled when considering charges under the new Alberta Liquor Control Act, the News reported in August 1924.

The legislation allowed hotel guests to possess liquor in their rooms, but that should not be extended to offices and other areas of the hotel, court found when upholding a $50 ticket given to T.R. Stone of the King Edward Hotel.

A motorcyclist who arrived in Medicine Hat after riding from Tiajuana, Mexico told reporters he had fun, but wouldn’t do it again for a $1,000. Bruce MacIntyre said rough roads in portions and at least 41 “spills” made the journey north toward his home in Moose Jaw particularly arduous.

Police believed “dope peddlers” were now using international rum-running routes across the border after two boys in Raymond found a package of cocaine in the town and turned it in to the local pharmacy. It was valued at $2,000.

Collin Gallant covers city politics and a variety of topics for the News. Don’t worry, he’s back from vacation. Reach him at 403-528-5664 or via email at cgallant@medicinehatnews.com.

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