Friday, April 24, 2015

Town of Pincher Creek moves 3% surplus from reserves to capital accounts

Toni Lucas

During the regular meeting of Pincher Creek Town Council on Monday evening, April 13 council unanimously approved surplus funds from 2014 to be transferred from reserves to capital accounts. CFO Wendy Catonio said "Just to reiterate that we had a 3% surplus which equated to about 342 thousand dollars." She further explained "That surplus was largely due to higher than anticipated franchise fees, and lower than anticipated salaries and benefits due to some unfilled positions during the year, lower utility costs due to very mild winter, and so on."

The surplus totaled $342,796.39.

Additional transfers included additional investment income, land sales and the grant to the Pincher Creek Humane Society for the new building.

Account Description / Explanation / Amount
Municipal Income Stabilization / 2014 Surplus / 254,000.00
Water Revenue Stabilization / 2014 Surplus 46,990.34
Waste Management / 2014 Surplus / 41,806.05
Total = 342,796.39

Interest for Business Development
Land Use & Planning / Loans not used in 2014 / 4,156.00
Capital Investment Fund / Additional Investment Interest / 214,664.91
Animal Shelter Building / P.C. Humane Society / -150,000

Prior Period Adjustment for the new treatment of local
Land Development / Improvement Levy / 162,259.41
Land Development / Land Sales / 67,500.00
Pool Infrastructure / Refund for over payment / 12,630.00

Transfer To Capital
Waste Management / Organic Waste Transfer Station / 19,984.35

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