INNISFAIL – Despite the pandemic-battered economy in 2020 the town posted a surplus of close to $1 million.
During council’s regular March 22 meeting, Heather Whymark, the town’s director of corporate services at the time, presented the 2020 4th Quarter Financials that showed a $955,682 surplus. Council accepted her report on the surplus and approved administration’s surplus allocation, which included more than half to reserves.
Despite the perilous state of the economy the town still has no debt and has more than $14 million in reserves.
“In early 2020 the province experienced a pandemic like no other. It has taken a huge toll on the economy and created a financial burden to businesses. This generated lack of jobs and financial difficulty to employees and their families,” said Whymark in her report to council.
“The Town (of Innisfail) was no exception to these circumstances and was at risk of a huge lost of revenue while ensuring our staff stay healthy and protected.”
She reminded council the town did receive $799,579 from the provincial Municipal Operating Support Transfer (MOST) program, which was put in place with federal support to offset the fiscal challenges brought on by the pandemic.
Whymark told council the $955,682 surplus would have only been $273,294 if the MOST grant had not been in place.
The town had until March 31 to use the MOST money for COVID-related expenses. Earlier in the month the town allocated the remaining $76,940 to Innisfail FCSS to support community mental health and well being initiatives, specifically for financially challenged citizens to obtain library cards, swim passes and counselling.
Whymark told council that town wage expenses have been lower during the pandemic due to limited venues allowed to open. She said less staffing was required and staff was reallocated to other departments.
Council was told all town casual, part time and some contracted employees were not required. Summer staffing was not hired as well.
“Staffing did their due diligence in being fiscally responsible and worked hard at keeping the spending to a minimum. Our expenses showed relatively meeting or below budget,” said Whymark.
With the $955,682 surplus, Whymark recommended an allocation of $440,000 for costs of modernizing the town’s heliport, $10,000 to the operating manual of the heliport, and $505,682 to the town’s facility reserve.
