City in strong financial position

Mike Carson
Send to a friend

Send this article to a friend.

SUMMERSIDE  - The city remains on strong financial footing as council prepares for deliberations on the 2014 municipal budget, says Deputy Mayor Bruce MacDougall, chairman of the city’s financial services committee.

Deputy Mayor Bruce MacDougall says the city of Summerside is on strong financial footing as it enters 2014

 

“From an operating perspective, the city recorded a $490,000 surplus against the budget as of the end of October, while approximately $6.3 million of our capital budget has been spent as of the end of September, and this was mostly in the electric utility,” MacDougall said. “The city’s financial performance has been positive to date and for much of the year.”

As the budget year winds down so do expenses.

“We are now in the final quarter for the year where traditionally activity in many of our departments tends to wrap up considerably,” MacDougall said. “Financial services will continue to closely monitor the results and advise council of any issues or actions required.”

The city undertook a new approach this year in setting priorities for the upcoming budget.

“Financial services recently completed a very successful public consultation process on the city upcoming budget,” he said.

MacDougall said members of the public along with city council and city staff took part in the December session.

“We are quite pleased with the input on the budget and hearing the feedback on priorities for the upcoming year,” he said. “This information is quite helpful as council starts to discuss and debate budget priorities.”

Councillor Cory Thomas said the public consultation process on the budget was “a tremendous exercise.”

He said the presentation gave the public a clear picture of how the city’s finances are handle, where the revenue comes from and where it is spent.

MacDougall said the city was hoping for a bigger turnout from the public.

“We were hoping for a broader perspective but there was some good input by the people that were there. It’s a start.”

MacDougall said more public consultations will be planned for future budgets.

mcarson@journalpioneer.com

 

  • 1
  • 2
  • 3
  • 4
  • 5

Thanks for voting!

Top of page

Comments

Comments