Mapleton – The township is on track for a $350,000 year-end deficit, but is still in position to come out on top with its three-year budget.
That's the financial update council heard on Tuesday evening.
However, noted John Morrison, director of finance, the projection may soon change as the township receives tax payments.
“Typically, a lot of the bills won’t come in ‘til about now, that we’ll be adding to the tax bills. So that could reduce the deficit considerably, once we account for the growth,” John Morrison, Mapleton's director of finance, said.
Morrison did not tell a story of doom and gloom as he gave a presentation. Rather, he explained the report just gives an idea of the general nature of the town’s financial situation at the end of June.
“So the intent of the report is just to give you a feel for what is potentially going wrong or what are the biggest trends we see, I see, through the accounting records as of year to date, June 30th,” Morrison said.
Nonetheless, Coun. Dennis Craven looked for immediate and straight forward ways to keep the deficit down.
“So there’s no big purchases that we’re tentatively going to be making before the end of the year that you should, we should, stop or anything?” Craven asked.
“I don’t see anything that will significantly change the course of action,” Morrison said.
The budget is not simple. Even with a deficit this year, in the multi year plan, there could be a surplus.
“I would remind council that this is part of a three-year budget, and as of the first two years we already have a $500,000 surplus. So if this was to come to pass over the three years we would still be in a surplus position,” Morrison said.
Mapleton council voted to receive the report.
Jesse Gault is the Local Journalism Initiative reporter for GuelphToday. LJI is a federally-funded program.
Jesse Gault, Local Journalism Initiative Reporter, GuelphToday.com