LETHBRIDGE - Lots of positives in the 2012 unaudited Year End Financial Report that was
presented to City Council members on Monday.
It showed a $744,000 surplus
in the Corporate Accounts that will flow into the Municipal Revenue
Stabilization Reserve, a $1.4 million carry-over for the Business Units and a
$3.1 million surplus for the Utility funded operations.
City Treasurer Cory Wight says "some of the numbers look fairly large, but
when you compare them to the actual budget for that area, they're very modest
surpluses, generally in around 1% of their total budget."
The Corporate Accounts surplus is mainly due to lower than expected employee
benefit costs and a lower number of property tax appeals. The carry forward
balance for Business Units mostly came from under spending by the Regional
Police and Fire and EMS. While the surplus in Utilities is mostly attributed to
delays in the start of some electric utility capital projects.
removal expenditures were $1 million under budget and those unspent funds will
go to the MRSR to partially offset an $8.1 million snow removal deficit
accumulated from 2008-2011.