RMWB Council meets on Nov. 19, 2019, to receive a financial performance update.
According to the administration, third-quarter results show an annual projected surplus of $12.2-million.
This resulted from an increase in operating revenue of $2.9-million and a decrease in operating expenses by $9.3-million.
The Q3 2019 ended on Sept. 30.
Quarterly Report
The Municipality approved the 2019 Capital Budget at $257.3-million.
However, it amended the budget by $10.7 million to a new $268-million mark.
34 per cent of the Capital Spend went to the Rural Water and Sewer Servicing constructions, Transit Facility, and Fort Chipewyan Lift Stations Upgrades.
That spend totals $120-million.
Furthermore, the cash position for the Municipality in Q3 2019 is $1.2-billion, with $814.3-million secured in investments.
The RMWB also received $35.1-million in capital grants and $5.3-million in operating grants in 2019.
These figures include funding from the Federal Gas Tax fund, which amounts to $12-million, and $15.4-million from the Municipal Sustainability Initiative (MSI)
Results from the upcoming 2020 Municipal Census would impact the amount the money we received from these funds.
Mayor and councillors shall discuss more Capital Budget amendments.
Namely, the Fort Chipewyan Airport Paving design, and the cancellation of the Off-Highway Vehicle fencing.
The administration projected a net decrease in capital funding by $1,469,125.
The amended budget for the Fort Chipewyan Airport Paving is $300,000.
Meanwhile, OHV fencing was to cost $1,769,125, but the RMWB cancelled that project.
Council will hear the quarterly report from the Wood Buffalo RCMP and the final reading of the Responsible Pet Ownership Bylaw.
Also included in the Nov. 19 agenda are appointments to the Downtown Revitalization and Waterfront advisory committees.
