Let’s Talk About Debt: Where Raymond Stands
As your Town Council, we believe it’s important to be open about how Raymond manages its finances—especially when it comes to debt.
What’s a debt limit?
The Province sets a debt limit for every municipality at 1.5 times annual revenue. For Raymond, based on our 2024 revenue of $10,083,296, our debt limit is $15.1 million.
As of September 15, 2025, our total debt sits at $6.17 million—that’s only 41% of our allowable limit. In other words, Raymond still has plenty of room under the provincial ceiling, but we are careful and intentional about how we use debt.
Debt per resident
At the end of 2024, Raymond’s debt worked out to about $1,500 per resident. That’s in line with neighbouring communities like Lethbridge and Taber, and lower than Coaldale.
Past and future trends
Our debt peaked about five years ago, but here’s the good news: Council has not taken on any new debt since 2019. We’ve tackled major capital projects while avoiding additional borrowing. If we stay on this track, our debt will keep shrinking year by year—projected to drop below $1 million by 2033 and essentially disappear by 2034.
Why this matters
Debt can be a useful tool when building things our community needs, but keeping it under control ensures we remain financially strong and flexible for the future. We’re committed to balancing growth with responsibility, so taxpayers get good value without carrying unnecessary burdens.
👉 Have questions about the numbers? Check out the full memo and charts.