As the days get longer and the thought of spring is coming into the minds of many, I am reminded of the quote ‘my friends, love is better than anger, hope is better than fear, optimism is better than despair, so let us be loving, hopeful and optimistic and we’ll change the world.’ – Jack Layton
2016 saw many reviews, assessments and updates for the Town. One of which was the important and necessary job of reviewing and updating the Town’s Finances.
Council and Administration recognized the need for this review as a top priority. At the end of the financial audit for 2015, it was recommended that the Town bring on GL Services, a respected financial consulting company out of Yellowknife to help complete the full review of the Town’s financials.
As the only proper way to run a business, everyone needs to have a full and complete understanding of the financial history, strains and accomplishments. A review such as this, needs to happen on a regular basis to ensure that all fiscal information is correct and any possible errors can be found and rectified. This gives us a solid understanding of where the Town is financially and allows us to look forward knowing where we were and where we are.
GL Services have been working with Town administration and Council since March 2016 and I am very pleased with all of the hard work they have put in to get our books to where they are now. As we are about to go into the 2016 Audit, I feel confident that Norman Wells will be found to have one of the cleanest set of finances in the region. This is a huge accomplishment and everyone should be proud of the work that has been completed!
Once the Audit is complete and the findings have been given, I will ensure that it is available for all residents to see.
Council also plans to have the 2017 budget finalized for the same time and I will also ensure that this is available for viewing as well. For 2017 Council is focusing on working towards a lean budget for the Town and to remove all extraneous spending, while still keeping and enhancing the services the Town provides to you, its residents.
Of course, once this year’s audit is complete and the budget has been finalized, that does not mean the end of work for the Town’s finances. Managing the Town’s finances is an integral part of running the business that is our Town. Finances are a like a living organism, always changing and moving and being adjusted to changes and the everyday workings of running a business. Without good financial management, it is difficult to provide all the services that are expected by you, the residents.
To assist our current staff with this important job, Council and Administration are currently advertising for a Finance Manager position. If you or anyone you know may be interested in this position, I encourage you to get in touch with the Town Office for the job posting and to submit your resume.
While we are looking for a new Finance Manager, I want to thank our current staff for the hard work they have put in and thank GL Services for their continued support and expertise. The Town would not be looking forward to this upcoming audit if it wasn’t for all the hard work and dedication that has already been put in.
I encourage you all to review all the aforementioned budget and audit reports as they are posted and contact the Town with any questions or concerns that may arise from them. We will be making it available to the public by posting to our Town website so as soon as we get it, you all get it too!