Rocky Mountain House town council passed a motion to approve the audited financial statement for 2023 which showed the Town’s budget ending the year with a $542,147 surplus.
Deputy Mayor Marley Capraro says council was pleased with the findings.
“With the Town of Rocky Mountain House, everything is looking like we’re in a really good financial position,” says Capraro. “We were happy with the numbers that we’ve seen this morning and approved the audited financial statement.”
The statement showed the surplus was thanks in part to revenues that where higher than budgeted due to increased interest rates, additional revenue for building permits, sale of land and buildings, an increase in admissions due to a post-pandemic return to rec facilities, as well as a new community support grant of $426,000 from Clearwater County that was not budgeted for but received.
Betty Quinlan, Director of Corporate Services for the Town of Rocky Mountain House says the half-million dollar surplus was somewhat unexpected as operations ran very close to the budget.
“It translates to a 2.7 per cent variance on an $18 million budget,” says Quinlan. “Most of the departments operated based on their budget.”
Quinlan adds that while the surplus is good today, the Town has plenty of expenditures planned for the future in it’s 10 year capital plan.
Over 10 years, Quinlan says the Town plans will commit $73 million to capital projects including $42 million on utilities and transportation and $7.5 million for recreation and culture.
You can read more about the audited financial statement here.
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