At a Special Meeting called for Monday evening, Drumheller Town Council was presented with the draft financial statements for 2016.
Leon Pfeiffer, of the accounting firm of Collins Barrow from Edmonton, attended Council to explain the results of the year’s financial statements to Council. Mr. Pfeiffer explained that once a couple of procedural measures were completed, and released to council, and unless they had any questions, they would be free to pass them by motion.
One note made by Mr. Pfeiffer, was that because the Town has a very small amount of linear taxation, there was no significant reduction in that revenue portion, showing stability. Some municipalities who have a large amount of linear taxation, have experienced a noticeable decrease since the downturn in the economy. He also noted that the town had an increase in the tax base in 2016, which is a positive item.
The town has an accumulated surplus of nearly $151,000,000. This consists of land, levies, equipment, sewer, transportation and water, among other items.
A motion to accept the financial statements as presented was passed.
The auditor did note to Council that the statements showed a clean audit, and that the town has strong financial controls in place.
