Finance releases six-month budget numbers 0
Dollar figures were released at council that showed where the municipality sits financially for the six month period ending June 30.
Director of Finance & Corporate Planning told council that overall the municipality was at a surplus of $3.1M and moving toward a projected surplus for year-end of $48,636. Reserves are $1.373M and the debt load is $1.549M.
The capital expenditures budget of $7.3M, or about 82.7 per cent, remains unpaid but payments will begin in July as infrastructure projects get underway, she added.
Vanoni said property taxes are still being paid so the details of these numbers were not yet known. She added that tax payments were coming in well with a lot more people paying attention to deadlines.
At June 30, the debenture for the two peace officer vehicles had not been spent but with delivery of the vehicles in July, the $140,000 would be paid.
Council's remaining budget is 68 per cent with a "small amount" allocated for the creation of an Economic Development Committee as well as regularly scheduled meetings and fall conventions.
Finance and Corporate Services has a remaining budget of 54.2 per cent for items such as branding and website development costs.
Protective and Community Services department budget is 44.6 per cent with the startup of the pool, summer ice, and summer programming initiated. Vanoni assured council that administration's goal is to meet budget by year-end.
Enforcement is at 50.9 per cent with increased activity and costs to be generated through Ag & Environmental Services, the Fire & Rescue transition to one entity, and the development of the peace office program.
The budget for facilities sits at 57.1 per cent with the Elks Hall over budget from maintenance.
Planning and Development is at 46.1 per cent including costs relating to the Development Officer, Building Inspector and Subdivision & Development Board which are within budget allocations.
Transportation's remaining budget is at 32.9 per cent resulting from seasonal costs relating to road works, the consolidation of public works shops, equipment maintenance and training.
Vanoni said committed funds of $181,000 for seasonal roadwork has not been spent but is showing as if it has. The remainder is closer to 41 per cent.
Utilities are at a low of 21.4 per cent. Vanoni said they are anticipating $674,000 revenue from the electrical system with a net surplus of $529,000. Contracted services, building and equipment repairs, landfill tipping fees and recycling are not reflected in the cash flow statement, she explained. Vanoni added that there is about $191,000 more in revenue with unexpended funds.
The remaining budget for wages and benefits is at 46.7 per cent with an annual budget of $5.488M and a remaining budget to year-end of $2.561M.