(File photo/battlefordsNOW Staff)

By Angela Brown

2021 overview

Financial audit shows town looking good

May 24, 2022 | 1:29 PM

The Town of Battleford is proving to be holding its own and staying in the black, based on the latest financial audited report.

John Pinsent, partner with St. Arnaud Pinsent Steman Chartered Professional Accountants, presented the 2021 fiscal overview remotely at council’s recent meeting.

In giving his report, Pinsent said the town’s finances are performing well.

The town’s 2021 budgeted operating revenue was estimated at $5,802,890 and expenditures were estimated at $4,889,283. The budgeted utilities revenue was estimated at $1,717,000 and expenditures were estimated at $911,948.

As well, the town’s total capital projects investment was estimated at $2.3 million.

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“It was actually a pretty good year at a $2.56 million surplus (including grants) for the profit and loss side of things, the statement of operations,” Pinsent said.

Pinsent noted the fees and charges that were incurred in some land sales helped pump up the town’s revenue numbers. However, he said overall revenues were actually down from the year prior. While 2020 was a COVID year, there were many extensive programs the town was able to take advantage of. The tally for revenues for 2021 ended up a little less than 2020 but was still higher than budgeted.

On the expenditures side, Pinsent said expenses for 2021 came in less than 2020, but a little higher than budgeted.

Town chief administrative officer Ash Alam also provided a summary of the findings in his report to council.

“The Town of Battleford completed another fiscal year successfully by lowering expenses, operating cost, and adding surplus to our reserve,” he said.

“[The town] successfully completed all capital projects in 2021, including the lagoon upgrade project.”

Mayor Ames Leslie said he was pleased with the auditor’s remarks that everything went smoothly, despite some transitions for the town.

“Last spring and summer was stressful for this council because we asked for some delays from the government a couple of times, and it could have affected our finances,” he said.

Coun. Judy Pruden was glad to see the town’s net financial assets increased significantly from $12.1 million in 2020 to about $13.4 million in the 2021 overview.

“I like what I hear and I like these numbers…,” she said. “Going up is always a good thing.”

Pruden also appreciated hearing from Pinsent that the town is in solid financial shape.

The town previously decided to use the Edmonton firm for the audit this year as they provided a low cost for the work and had the manpower available when the town required the service, based on the responses received from the town’s Request for Proposals.

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angela.brown@pattisonmedia.com

On Twitter: @battlefordsNOW