Another financial year has wrapped up for the City of Yorkton, coming to a close with some good news and not so good news.
While revenues were greater that anticipated, weighing in at $419,282, Lonnie Kaal, the city's Director of Finance, says snow fall levels took a huge toll on the 2013 budget. Administration allocated $500,000 for snowfall removal but expenditures wound up at a whopping $875,000.
"Snow removal costs are the highest in history..."
"In prior years, the City has transferred half of any department's savings into a reserve for future capital expenditures," says Kaal. "Unfortunately, in 2013, there are no departmental surpluses to be allocated."
While the transferring of funds "brings the books to zero" Kaal says administration believes the city is heading into 2014 in sound financial shape.
Full details will be posted on the city's website at: www.yorkton.ca.
A number of projects are in the works for 2014, including the development and improvement of the problematic intersection at Highway 9, Hamilton Road and 7th Avenue.
Designed too tight for semi trucks and traffic, the location is slated for a nearly $500,000 upgrade that will include new traffic lighting, an extra turning lane and traffic islands. The project is expected to take about three months to complete.
