News

Red Lake’s 2015 financial statements receive review

Published: November 23, 2016

BY JENNIFER PARSONS

Municipal officials were patting themselves on the back this week after reviewing its 2015 audited financials that boasted an annual surplus of $292,650 over budget.

BDO Dunwoody LLP auditor Claudine Codeiro met with municipal leaders at the Regular Council meeting on Nov. 21 to present the Consolidated Financial Statements for 2015. While highlighting the surplus she offered praise to the municipality for its success.

“You should be pretty pleased with the results for 2015 in that your surplus is $378,000. Congratulations on exceeding your budget expectations,” reported Codeiro.

According to the financial statement the Municipality collected $8.045 million in tax revenue, $5.1 million in fees and user charges and $4.57 million in federal and provincial grants. More than $17.9 million was spent through eight funds that were categorized as general government, protection services, public works and transportation, environmental, health services, social and family services, recreation and cultural services and planning and development. In 2015 police and fire services decreased by just under $19,000 however environmental which includes water, waste water and solid waste disposal services increase by $46,395 over the previous year.

Despite the positive report Councilor Carol Baron challenged Codeiro on why the finalized documents were being presented so late in the year. The representative noted the “fieldwork” necessary to start the process was carried out in a timely matter, however, new legislation relating to the liability for contaminated sites delayed the finalization of documents and led to a qualification of the new standard in the final text.

“We were debating whether we should try to get that done in time for the purposes of the statements and we felt that we should look at the whole statements as they were,” explained Codeiro.

Starting in 2015 municipalities were required to identify contaminated sites in their jurisdiction and, if these sites meet certain criteria, “record a liability for the estimated cost to bring the site up to the current minimum standard for its use prior to contamination.”

Chief Administrative Officer Mark Vermette told Councilors the municipality has completed an inventory of its properties, however is proceeding with caution when complying with the new regulation.

“There are questions with three properties that had historical mining and we need to work through our position on how we want to deal with those moving forward. There is always the question of successor rights,” clarified Vermette. “It is not something we are taking lightly but we want to make sure we are taking the correct position that is best for our Municipality.”

Actual Expenses – 2015  
General Government $1,883,177
Protection Services $2,599,199
Transportation Services $3,935,139
Environmental Services $3,762,051
Health Services $359,440
Social and Family Services $2,880,433
Recreation and Cultural Services $1,925,850
Planning and Development $557,998

 

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