INNISFAIL – Town council has approved moving nearly $800,000 of 2023 surplus funds into a trio of reserve accounts, including just over $500,000 in the Facility Reserve that is being used as a savings account for a planned new $28.5-million aquatic centre.
During council’s regular meeting on April 22, Erica Vickers, corporate services director for the Town of Innisfail, presented the town’s fourth quarter financials for 2023.
Council was told there was surplus funds of $794,106, with $310,547 of that coming from increased revenue and the remaining $483,559 from decreased expenses.
From the total $794,106 surplus Vickers recommended to council that $500,746 be allocated to the Facility Reserve, which according to an attached reserve summary in the meeting agenda had a balance of $1,576,977.21.
Another $259,225 is being moved into the Operating Reserve, where allocations will be made for several new initiatives and services.
They include:
• $30,000 for a pedestrian safety review;
• $70,000 toward community safety by reviewing staffing levels in the town’s protective services department;
• $45,000 for an independent assessor to review the application to the Alberta Utilities Commission to move ahead with the planned $4 million Municipal Solar Farm;
• $32,625 into a new five-year contract for continued services for GIS asset management software, and;
• $58,000 toward carryover operating projects, such as $10,000 for public art, $12,000 for men’s partitions and fixtures at the current aging Aquatic Centre and $16,000 for a community safety initiative.
Vickers also told council that administration wanted to add a “little bit more” into the RCMP reserve account on top of the $30,356 council had seen from increased revenues during its recent approval of the 2024 Property Tax Bylaw.
She added the RCMP collective bargaining agreement (CBA) expired on March 31, and the funds could be used to help cover future retroactive costs – a total of $64,491 - related to a new CBA.
“If we take away the amount that was just allocated from that tax bylaw of $30,356 we're seeing a balance of $34,135 that we would like to transfer and hold for that future RCMP back pay amount,” Vickers told council.
She told council there was a 2023 end-balance of $15,792,902.14 for all town reserves, noting that the Land Acquisition/Servicing Reserve was currently “quite high” at $4,682,466.33.
She added the balance of the loan the town took out for the development of the Southwest Industrial Park is sitting in that reserve and that $1.5 million of it will be taken out this year for an annual payment.
Council members appeared pleased with Vickers’ report with mayor Jean Barclay noting the ongoing savings from energy conservation measures, including the recent installation of solar panels on town-owned buildings.
“I believe a lot of the work has been completed. It’s just finalizing a lot of choices. At some point we'll be bringing a formalized report regarding energy conservation measures that we took,” said Vickers.
At the end of a lengthy discussion council unanimously approved three motions with the first accepting the 2023 fourth quarter financial statements as presented.
Council also agreed to approve the allocation of $34,135 to the RCMP Reserve, $259,225 to the Operating Reserve and $500,746 to the Facility Reserve.
And finally, it was also unanimously agreed with council to direct administration to provide council with a business case associated with increasing protective services staffing levels.
