The City of Yorkton saw a sizeable surplus occur in 2014,
“Revenues were $887,920 more than budgeted,” explained Shannon Bell, director of finance at the regular meeting of Yorkton Council Monday.
Departmental operations withdrew $351,572.
“When including capital the net surplus for 2014 is $539,485,” said Bell.
The lion’s share of the surplus came from two revenue sources. Crown surcharges, less incentives, accounted for $378,124 or the surplus, with interest making up $322,028.
On the operating side only fire/RCMP and the Planning, Engineering, Building, Transit & Airport areas of the budget saw costs less than budgeted.
In the end the City realized a surplus of $506,000, said Bell.
“In prior years, the City has transferred half of any department’s savings into a reserve for future capital expenditures. In 2014 Finance and Building Services were the only two departments that qualify for the surplus allocation,” said Bell.
“Audited financial statements will be provided in June after the auditors have completed their review. The financial health and condition of the tangible capital assets will be discussed at that time.”
Council unanimously approved transfers to reserves which include; $30,000 to a Finance reserve, $20,000 to a Building Services reserve, $6,000 to the Rainy Day reserve, $200,000 to a Snow Removal reserve and $250,000 to a Roads Network reserve
