MD council receives financial summary

·1 min read

As we turn the corner into the second half of 2022, a report shows the MD of Pincher Creek finances are looking pretty good. The MD’s finance department presented the summary during council’s regular meeting on June 28.

The report broke down each of the MD’s budgeted expenses and compared them to the actual year-to-date amounts. Overall, the expenditures are within budget and look favourable to stay that way through year end — with one main exception.

The $7,000 budgeted for wastewater expenses has been exceeded by $6,305 due to an unforeseen sewer blockage in Lundbreck. Clearing the block cost about $10,000.

The expense overage will be offset soon as wastewater utility accounts get invoiced for the full year.

One particular area with big savings is council member expenses. Only $4,484 of the allotted $85,210 has been spent, due to less travel and hotel costs for municipal trainings, though the variance will be smaller once subscriptions to municipal organizations are paid.

Contributions to MD reserves sit at $3,088,535 compared to withdrawals of $427,356. Reserves currently total $12,748,758.

Just under $15.5 million has been collected by the MD in taxes and requisitions, which is over the anticipated amount of $13,473,095.

However, the variance is the result of tax revenue getting recorded before the MD pays provincial requisitions, including its contribution to education in the province. Provincial requisitions are expected to come in at $2 million.

The total summary report can be viewed online in the June 28 meeting packet at bit.ly/MD_June-28.

Sean Oliver, Local Journalism Initiative Reporter, Shootin' the Breeze

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