It appears the township is in much better financial shape after 2008 than it was following 2007.
That seemed to be the general message Matthew Venne brought to council last week during his presentation of the township’s financial statements as of Dec. 31, 2008.
Venne, of RLB Chartered Accountants and Business Advisors, said Mapleton staff was very helpful during his firm’s review of the municipality’s finances, which was completed in March.
Positive financial signs for the township in 2008 that were cited by Venne include:
– a $324,440 surplus in the current fund operations, which was applied to a 2007 deficit of $788,902;
– over $6.1-million in available cash as of Dec. 31, more than double the amount available at the end of 2007 (about $3.06-million); and
– almost $7.1-million in assets, versus just over $4.1-million at the end of 2007.
Venne alsohighlighted several specific changes in 2008 over 2007, such as:
– net taxation revenue was up from $2.73-million to $2.92-million, thanks to an increased tax rate and assessment growth in the township;
– “Ontario subsidy” was up over 100%, from $1.34-million to almost $3.15-million, thanks to such things as gas tax credits and the Ontario Municipal Partnership Fund;
– fees and service charges are up 17%, from $982,086 to $1.15-million, due in large part to $130,000 in revenue from the new medical centre in Drayton and increased fire call revenue;
– transportation costs were up about 36% from about $1.5-million to $2.02-million, with winter maintenance making up a significant portion of the increase;
– environmental services were up 59% from $378,719 to $600,000, with lagoon improvements ($200,000) making up the majority of the increase; and
– social services were up from $2,232 to $29,911, due to new operational and wage costs for the new Closer to Home seniors program.
