The province outlined its plan to give financial assistance to Albertans for rebuilding on Sunday and officials are making it clear that the money will only cover basic building materials.

The Disaster Recovery Program will provide funding to repair homes and will use a formula to calculate the amount.

The funding formula looks at the type of house, the location, whether the basement was finished and what it will cost to return the home to a basic level of finish.

The "basic level of finish” formula will apply to things like vinyl siding, asphalt shingles, standard furnaces, vinyl flooring, basic quality carpets and cabinets, laminate counter tops, and standard baseboards and doors.

Officials say that the fund will cover a complete rebuild if it is cheaper than repairing the home or business.

Ron Hopf lives in Sunnyside and says he registered his damages with the province a few weeks ago and is waiting to hear about his claim.

“It takes time and it’s just the way it is, you don’t want to worry because all you can do is just get in more of a dither, ya know, and it just doesn’t help,” said Hopf.

Brendan Klassen has a couple properties in Calgary and she is waiting to get going on repairs.

“Now we have to move on and I guess it takes the insurance companies a little bit of time to get going,” said Klassen. “I have no idea what the province is doing at all. I’m just taking things day-by-day, that’s all.”

The Alberta government will also put funding in place to protect basements in homes and businesses in flood fringe areas by raising electrical outlets and panels and also using materials that are easier to clean.

The province estimates it will cost about $10,000 to repair or rebuild a basement but Klassen doesn’t think that will cover it.

“I don’t think so,” said Klassen. “A basement like that? All in all without contents? Ummm about $100,000.”

The province says mitigation expenses will be approved if they are sufficient to protect against a 1-in-100 year flood.

Under the policy, homeowners who do not take the necessary steps to protect their properties against a 1-in-100 year flood event will not be eligible for future Disaster Recovery Program assistance.

The province will also introduce legislation this fall that would ban new development in floodplains and says it will help those who choose to rebuild in the riskiest areas this time but will not provide any compensation for future flood damage in those zones.

Applicants can request a review of their file by contacting a representative in the DRP office at 1-888-671-1111.

For more information on the Disaster Recovery Program, visit the Alberta Government website.

(With files from Kevin Fleming and The Canadian Press)