Coun­cil ap­proves 2016 Fi­nan­cials

The Drumheller Mail - - NEWS - O.R. Sheddy The Drumheller Mail

At a Spe­cial Meet­ing called for Mon­day evening, Drumheller Town Coun­cil was pre­sented with the draft fi­nan­cial state­ments for 2016.

Leon Pfeiffer, of the ac­count­ing firm of Collins Bar­row from Ed­mon­ton, at­tended Coun­cil to ex­plain the results of the year’s fi­nan­cial state­ments to Coun­cil. Mr. Pfeiffer ex­plained that once a cou­ple of pro­ce­dural mea­sures were com­pleted, and re­leased to coun­cil, and un­less they had any questions, they would be free to pass them by mo­tion.

One note made by Mr. Pfeiffer, was that be­cause the Town has a very small amount of lin­ear tax­a­tion, there was no sig­nif­i­cant re­duc­tion in that rev­enue por­tion, show­ing sta­bil­ity. Some mu­nic­i­pal­i­ties who have a large amount of lin­ear tax­a­tion, have ex­pe­ri­enced a no­tice­able de­crease since the down­turn in the econ­omy. He also noted that the town had an in­crease in the tax base in 2016, which is a pos­i­tive item.

The town has an ac­cu­mu­lated sur­plus of nearly $151,000,000. This con­sists of land, levies, equip­ment, sewer, trans­porta­tion and water, among other items.

A mo­tion to ac­cept the fi­nan­cial state­ments as pre­sented was passed.

The au­di­tor did note to Coun­cil that the state­ments showed a clean au­dit, and that the town has strong fi­nan­cial con­trols in place.

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