Council heard an update from the third quarter financial results on Oct. 23, 2018.
The results are showing an annual projected surplus of $34.5 million, a result of an $15.6 million increase in operating revenue and a $18.9-million decrease in operating expenses.
The 2018 capital budget is $251.6 million with $108.3 million of that spent as of the end of September.
The construction of the rural water and sewer project and rural infrastructure rehab accounts for 45 per cent of the total money spent.
Since May 2016, the Municipality has spent $203.4 million in recoverable wildfire costs and to date the province has advanced $148.7 million for reimbursable expenses.
The Government of Alberta Agriculture and Forestry will cover $10.5 million of certain FireSmart wildfire related costs and has advanced $7.0 million.
The Red Cross has also entered into an agreement with the Municipality to cover $10 million of certain wildfire related costs and has advanced $5 million, and our insurance provider has paid $29.6 million in claims.
