Skip to content

Town receives 2009 financial audit

The Town of Bonnyville received its audited financial statement last Wednesday and both the mayor and CAO agree the 2009 final numbers indicate the town to be in good financial standing.

The Town of Bonnyville received its audited financial statement last Wednesday and both the mayor and CAO agree the 2009 final numbers indicate the town to be in good financial standing.

CAO Mark Power said the town's finances are in "excellent shape" and attributed the reported deficit of $1.7 million to changes in accounting processes implemented in January 2010, specifically how the Centennial Centre debt is allocated in town operations.

"As far as operationally, it wasn't a deficit," he said. The town intended to borrow money for the Centennial Centre debt and budgeted for it as a receivable. The auditor reported that as an unrestricted asset, which made it show up as a deficit.

"Overall the town is in good fiscal shape," echoed Mayor Ernie Isley.

Parks and recreation added an increase of over $2.8 million due to the town paying for "fit up" costs and 2008's deficit at the Centennial Centre. The town paid around $663,000 toward the deficit and around $317,000 for fit up costs, including kitchen appliances and supplies, a Zamboni, and an air curtain. Another $1,831,697 went toward paying outstanding construction costs for the building.

The town began transporting waste to Evergreen Regional Landfill near St. Paul this year, resulting in nearly a 19 per cent increase, or $561,796 more than was budgeted for waste management. Bonnyville took over operating the transfer station south of town this year from the Beaver River Waste Commission, resulting in increased costs not reflected in the 2009 budget. While the town had budgeted for transport costs to Evergreen, labour costs to run the transfer station were not included in the 2009 budget.

Roads, streets, sidewalks and lighting came in 20 per cent higher than was predicted in the 2009 budget because of increased provincial funding. The funding went toward street projects including 45th Avenue.

The town also spent 15.6 per cent more on airport services than was expected.

Administrative and legislative expenses came in under the budgeted $1,420,504 by about seven per cent, or $188,474 less than was expected.

The town collected over $5.3 million in net municipal taxes in 2009, with revenue of $14.2 million.