Bank account totals as of July 31, 2021
We have operated on fact in all areas of responsibility and where possible we are open to sharing information.
$4,794,568 Gas Tax
$592,646 Capital Reserve
$415 General Reserve
Total Bank Accounts $8,442,929
Receivables still to come in
$4,276,000 Property tax payments
$250,000 Covid Expense recovery
$1,500,000 ICIP (investing in community infrastructure program) for drainage work
$2,400,000 in SCF (Small communities fund) for remaining chip seal
$570,000 GST refund to the end of 2020
$150,000 GST refund to July 2021
Total incoming $9,146,000
The Town is required to cash flow all grant funded projects while ensuring that all our budgeted operational needs and unforeseen obligations are met. This means that we must be strategic with projects going forward. We are also obligated with many of our grants to match grant funds with a 25% share i.e.: we need to match every $1Million with $250,000.00.
We are bound to previously negotiated contracts for Water/Sewer and Civil Works and Garbage. We took the option of extending each of these contracts 2 years to provide economic stability to each company during COVID uncertainty.
2022 Draft Budget
Council felt it was their responsibility to prepare as much as possible for a new Council. This is a draft budget which can act as a framework for a new Council in the early days. See below draft budget and Capital Projects and Funding Plan.