Pictou shows surplus for 2016-17 fiscal year

The Town of Pictou is expecting to end its fiscal year in good standing. Based on draft financial statements for the end of the 20162017 fiscal year, town operations show a surplus of $180,000 and a $42,000 surplus in water. Pictou Mayor Jim Ryan said the majority of the surplus was derived from under spending in general government, environmental services and public works. The final draft of the financial statement is expected to be approved within the next few weeks during council meeting at which time the 2017-2018 operating budget will also be presented. The town is expecting to maintain its current residential tax rate of $1.64 and commercial rate of $4.34. The curbside collection flat tax will drop from last year’s $185.27 to $164.16 while sewer operating will rise from $169.06 to $178.45. The sewer capital charge will drop from $117.52 to $112.53 with the hydrant rental area rate remaining almost the same at 0.106 cents. The costs for services to most taxpayers should be within 1.5 per cent of their last year bill total. “Pictou town council is pleased to maintain the current tax rate in the first full year of its mandate with increasing investment in capital infrastructure,” said Mayor Jim Ryan. “With opportunities for new businesses to develop near the roundabout, improvements to our drinking water and an aggressive investment in paving, the town is well placed to encourage both population and economic growth.” The proposed capital budget will see an investment of more than $1.3 million. The town has earmarked $390,000 for paving projects, including a rebuild of Haliburton Road, and resurfacing areas along Water Street and Beeches Road. Other priorities including building upgrades, fleet purchases and business development enhancements. This work is in addition to the construction of the water treatment plant and installation of pressure zones targeted for completion by September of 2018. A draft of the 2017-2018 town operating budget can be viewed on the town website at www. townofpictou.ca or at the town administration office at 40 Water St.