Council Notes
Drumheller Town Council
Committee of the Whole Meeting
Monday, May 7, 2018

The meeting was called to order at 4:30 p.m.
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Councillor Tony Lacher was sworn in as Deputy Mayor for the months of May and June.
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Mayor Heather Colberg proclaimed Monday, May 7 to Saturday, May 13 as National Nursing Week in the Town of Drumheller.
Mayor Colberg also proclaimed Sunday, May 6 to Friday, May 12 as Emergency Preparedness Week. It is a designated awareness week to help Canadians take action to protect themselves and their families during emergencies.
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The Economic Task Force Steering Committee gave a presentation and summary report of recommendations.
Kim Suntjens, Bob Sheddy, and Ken Schinnour presented on behalf of the steering committee and subcommittees.
A Community Narrative made by LaVerne Erickson was read.
The groups evaluated and created recommendations in the areas of Education, Tourism, Housing, Arts & Culture, Film & Media, Medical/Government, Industry, Manufacturing and Entrepreneurs, and the Drumheller Advantage.
See front page in The Drumheller Mail for more details on the Task Force’s summary.
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The meeting adjourned at 5:23 p.m.
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Council Notes
Drumheller Town Council
Regular Meeting
Monday, April 30, 2018

Mayor Heather Colberg called the meeting to order at 4:28 p.m.
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Leon Pheiffer of Collins Barrow gave a presentation on the 2017 Audited Financial Statements for the Town of Drumheller.
He highlighted the financial assets which are up almost $34 million over the prior year. There was an increase in cash and cash equivalents, a slight increase in the accounts and taxes receivable and a significant increase in investments.
Liabilities were sitting under $22.5 million as they went down half a million dollars from 2016. Pheiffer explained the Town’s long term debt is continuously diminishing and has gone down roughly $800,000 from the previous year. There was a significant increase of $4.3 million in the net financial asset position which indicates a strong balance sheet.
The consolidated statement of financial position shows the town has a total accumulated surplus of $153,427,218, made up of financial and non financial assets, which Pheiffer indicated is ‘headed in the right direction.’
The statement of operations showed an increase of $1.3 million in revenues over last year at $19.9 million. Sales and user fees have gone up the most to attribute to this increase. Expenses have also increased roughly $800,000 over the prior year. Both Protective Services and Transportation Services had the highest jump in expenses in 2017. The town had a deficit of $325,510 and an excess of revenues at $2,445,399 which has gone up $900,000 from 2016.
Unrestricted cash and cash equivalents at the end of the year sat at $1,029,548 which is up roughly $400,000 from last year.
Long term debt is being paid down ‘fairly rapidly’ from $10,467,205 in 2016 compared to $9,605,204 in 2017. He predicted the balance would go down $891,000 for next year. Interest for this debt is at $429,801. Pheiffer explained current interest rates are very favourable for paying off the debt.
Equity in tangible capital assets of $233.8 million and accumulated amortization of about $92 million and debenture debt of $9.6 million gives the town lots of breathing room (equity) to borrow more money if need be.
Net Municipal Taxes were ‘very comparable’ to last year as there was only a difference of $12,490.
Councillor Tom Zariski made a motion to adopt the Audited Financial Statements presented. The motion carried.
Copies of the Audited Financial Statements will be made available at www.dinosaurvalley.com.
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