Audited financials highlight responsible use of funds

Perth South Council Meeting Recap

By Stewart Grant

Chartered Professional Accounting firm Vodden, Bender & Seebach attended Perth South Council on Tuesday morning to present the completed audited financial statements for the municipality’s 2016 fiscal year.

Key financial indicators, expressed for each of the past five years, demonstrated positive trends for Perth South. Net financial assets (primarily cash) totaled $7.5 million at December 31, 2016, which was up from $4.7 million in 2012. It was also noted during the presentation that Perth South continues to operate in a responsible financial position, free of long-term debt.

Perth South’s overall reserves have increased to $3.5 million, up approximately $280,000 from the prior year and up from a level of $2.7 million as of year-end 2012.

Councilor Melinda Zurbrigg noted that the positive results have occurred despite the significant financial challenge of decreasing grants from the Ontario Municipal Partnership Fund (“OMPF”). The 2016 OMPF grant of $1,339,400 is approximately a full million dollars less than the $2,317,100 received in each of 2012 and 2013.

Perth South’s total revenue in 2016 from all sources was $5,965,612, of which $2,957,812 came from taxation revenue. Expenditures during 2016 per the financial statements were $5,463,795.

Other Council Meeting Highlights

• Public meetings were held Tuesday morning to review four proposed zoning by-law amendments for Jim & Ann Watt, Cornelia Van Gorp, Cornelia & Cornelius Van Gorp, and Nick & Jaime Martin, respectively

Economic Development Committee Highlights

• Both Hannah Conroy and Lizet Scott discussed strategies to retain and re-attract young people within the community. Hannah is interested in meeting with residents below the age of 30 who may be good ambassadors for Perth South as part of the youth engagement project. Lizet Scott reviewed the highlights of the Perth4Youth Strategic Plan

• The first Perth South Networking Breakfast is planned for October 30th (7:30 a.m. to 9:30 a.m.) at River Valley Golf Club. Tickets are $10 and interested attendees can register by calling 519-305-5055 or visiting www.stratfordperthbusiness.ca.

• It was noted Perth South has been officially designated a “Smart Community” thanks to Quadro Communications (see Business of the Week article on page 6)

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