Heather Wright/The Independent

Petrolia’s CAO says the 2026 capital budget will be the largest in the town’s history, topping $15 million.

Rick Charlebois spilled the detail while council was discussing what to do with the $277,000 surplus from the 2024 budget.

In the last few years, Petrolia has put any excess cash into the Working Capital Reserve but Councillor Chad Hyatt wanted to create an operating reserve so council would have the flexibility to lower taxes in coming years with the money. He mentioned the idea last year, when he tried to have council reduce a tax increase which had already been passed in the 2025 budget.

Charlebois suggested the money should continue to be put into the working capital reserve. 

“The more we put into working capital means less likelihood that we’ll have to borrow more capital,” he said.

Charlebois went on to say the staff has just completed its 2026 budget and the town may need $15 million for capital projects. In 2025, just under $3 million was spent. Council still agreed to put some money into an operating reserve, knowing it could be used for capital if council approves the move.

Charlebois tells The Independent the 2026 budget will likely be turned over to Mayor Brad Loosley in October.

Under the Strong Mayors legislation, Loosley will review the budget and make any changes he deems necessary. Council will get a chance to review the mayor’s budget, but Charlebois notes it can only make changes to Loosley’s budget if five councillors agree. 

After that, Loosley can veto the change, if he can convince two other members of council to side with him.

Charlebois admits the new legislation will make this year’s budget much different but he still anticipates completing the spending plan by January 2026.