The Town of Athabasca is in a good financial state, according to auditor Gordon C. Ferguson.
ìIt is a strong balance sheet for the municipality,î Ferguson said. ìItís a good financial position. You have tightened your belts, which is a good thing.î
Ferguson presented the audited statements during the April 16 meeting of Athabasca town council.
Despite the glowing financial statements, Ferguson had some words of warning.
ìMy caution is not to go out and say we had a good year, and spend,î he said. ìThere are lots of infrastructure in municipalities to look after.î
Councillor George Hawryluk agreed with the accountant.
ìThat is not to say that we have to go and spend money like drunken sailors,î he said.
ìI believe in fiscal responsibility and I believe we need to cut and cut, and save some money for the rainy days. It doesnít matter how much money there may be; a good example is this winter. It is costing a lot more money (for snow removal) than was probably planned for.î
However, Hawryluk was glad to hear the town was in good financial standing.
Councillor Tim Verhaeghe said he was happy with the statements.
ìWhen I look at these statements, I canít help but think that our town is in a good financial position,î he said, reiterating what the auditors and other councillor expressed.
ìIt also looks like we have cut our expenses significantly, but yet we have maintained status quo. I am quite happy with where we sit.î
Councillor Lionel Cherniwchan said he was glad to see there were no hiccups in the statements, and Mayor Roger Morrill said he thought the numbers spoke for themselves.
Comparing year to year, the financial situation of the town hasnít changed drastically.
Assets went from $5,283,368 in 2011 to $6,008,395 in 2012, while liabilities went down from $3,633,695 the previous year to $3,455,326.
The 2011 revenue of $6,090,317 jumped to $6,138,827 in 2012.
Expenses dropped from $7,031,411 in 2011 to $6,169,733 in 2012.
Property tax revenue increased from $2,490,769 in 2011 to $2,936,172 in 2012.
Requisitions for the Alberta School Foundation Fund and Seniors Foundation went from $3,031,581 in 2011 to $3,146,276 in 2012.
Tax-supported debentures went from $1,145,584 in 2011 to $2,129,803 in 2012 because of the Muskeg Creek local improvement and the upgrades to the lagoon.
