Port Moody’s employee expenses rose 3% in 2023; costs for goods and services rose 21%: report
Port Moody’s spending for salaries as well as goods and services all rose last year, according to the recently released 2023 statement of financial information.
In total, the city spent $29.6 million on employee salaries and expenses in 2023, a three percent increase from 2022.
Out of more than 750 city employees, 15 made over $150,000 in 2023, compared to just 10 in 2022.
The highest paid employee in 2023 was now-retired city manager, Tim Savoie, who earned a $228,951 base salary.
Other highest salaried positions include: Paul Rockwood, general manager of finance and technology ($182,752); Angela Parnell, general manager of corporate services ($182,752); Jeff Moi, general manager of engineering & operations ($173,083); Fire Chief Darcey O’Riordan ($172,863); Kate Zanon, general manager of community development ($172,821); and Anna Mathewson, the new city manager ($172,492).
City council were paid $471,154 in 2023, jumping 20 percent from the $378,705 earned in 2022, after council approved a retroactive raise for themselves at the end of 2023. Mayor Meghan Lahti was paid $142,010 for the city’s top job, while councillors were each paid $54,857.
Council’s expenses totalled $71,434, nearly doubling from the $32,654 spent in 2022.
The city’s costs for goods and services also spiked 21 percent in 2023, rising $16 million from the $63.5 million spent in 2022. A total of $4.8 million was spent on contractors, while another $3.8 million was used for consulting and professional services.
Port Moody’s annual financial report shows the city took in $55.3 million in tax revenues in 2023, around 10 percent more than 2022. A total $17.9 million, or 32.4 percent, was collected from its industrial and commercial businesses.
Port Moody has six businesses which bring in more than $1 million in tax revenues each year. The three highest taxed corporations in the city include: Suncor Energy ($8.7 million); Pacific Coast Terminals ($2.2 million); and Imperial Oil ($2 million).
Patrick Penner, Local Journalism Initiative Reporter, Tri-Cities Dispatch
