After delays, the 2017 audit of the Town of Battleford is finished, and chartered accountant Dallan Oberg reports good news.
A municipality’s finances for specific years begin with a budget, after which the year occurs, then an audit compiles financial information, and offers information such as to what extent revenues and expenses went according to plan, and offers recommendations for upcoming years.
Oberg said an audit gives perspective on how municipalities are functioning.
Highlights from the audit include total revenues being $8.2 million over $7.9 million in 2016, and total expenses including depreciation resulted in 6.5 million versus 6.2 million the previous year.
A bulk of the increase in expenses, Oberg said, is due to depreciation.
Oberg said things are “pretty static” and “pretty similar year to year.”
Including capital grants, Oberg said, total surplus for the year was $2 million whereas the year before it was $2.5 million. Oberg said this was expected due to water sold to the City of North Battleford as a result of the Husky oil spill.
The 2017 surplus, Oberg said, indicates “great health for the town to have a surplus situation going forward.”
Oberg said the town pays close attention to its expenses.
Upcoming major financial tasks include budget planning, adopting a 2019 budget, and completing an audit for 2018.
