To date the humanitarian organization says it has spent $27.5 million helping about 70,000 people who needed food, clothing and shelter.
John Byrne, a Red Cross spokesman, says the rest of the cash will be held in trust to meet future needs through to 2016.
He says those needs will include repairing damaged homes and replacing some furniture and appliances lost in First Nation's houses.
The flooding forced more than 100,000 people from their homes and destroyed 14,000 properties, mainly in Calgary and High River.
The Red Cross says 95 cents of every dollar donated for Alberta flood relief goes to help people and communities.
"Recovery from a disaster of this magnitude is a long and difficult process and Red Cross remains committed to ensuring people and their communities can face the future with confidence," Byrne said in a release Tuesday.
He said the Alberta floods triggered the largest domestic disaster response the Canadian Red Cross has undertaken in its history. (The Canadian Press, CHQR)