Cloud computing is emerging trend in information technology community. Cloud resources are delivered to cloud users based on the requirements. Because of the services provided by cloud, it is becoming more popular among internet users. Hence, the number of cloud users is increasing day-by-day. Because of this, load on the cloud server needs to be managed for optimum resource utilization. This paper proposes new load balancing algorithm which considers parameter like weight of each task, execution time of each task, current load and future load on the server.