Latest posts by Chris Marchand (see all)
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Councillors hear auditor’s report on 2010 financial statements, May 4
By Lindsey Enns
Financial statements from the year 2010 were revealed to the public in a special City Council meeting, May 4, and the numbers indicated that Dryden’s Centennial year, was a tough one financially for the municipality.
With an annual deficit for 2010 recorded at nearly $8.4 million, auditor Don Yurkiw of BDO Dunwoody who presented the financial statements assured council members that the numbers could change significantly with the inclusion of the the city’s capital assets, which were not listed.
The Dryden telephone and mobility service, DMTS, currently falls in the deficit and continues to be a growing area of concern, in Yurkiw’s professional opinion.
“Bringing in the mobility and telephone service changed these numbers significantly,” Yurkiw told council.
In his experience, Yurkiw says another area of concern was the amount of accumulated sick leave, which he says is much higher here than other municipalities and is something that surprised some city councillors.
“They are what they are and it is the city’s policy to not put a top on the amount of sick leave but I am still surprised by this,” councillor Brian Collins said.
As a whole, the municipality has an accumulated debt of $24 million and Mayor Craig Nuttall says that he is looking forward to getting a grip on the city’s finances in 2012.
“We can’t keep borrowing money without paying it back anymore,” Nuttall said. “We need to work out a long-term debt plan in order to get our interest rate down on our loan payments.”
While these numbers could be disappointing to council members, Nuttall is glad that they were made public.
“These should always be made public because it is the taxpayers’ money that we are handling and they have the right to know how it is being spent.”
Nuttall adds upcoming budgets will focus on what the city of Dryden needs, not wants.
“Next year’s budget plan will be really tough but right now our downtown businesses are doing very well and we have the potential to become a service hub.”
For more information and to view the 2010 financial statements you can visit Dryden.ca.