INNISFAIL - Town council has given the green light to an administration recommendation to divide up an enviable $690,614 surplus from 2017.
In doing so, administration is now putting $100,000 into the skateboard park project, another $100,000 into the town's recreation planning initiative -- considered a strategic priority, $200,000 into the second phase of the Wayfinding Signage project, $20,000 for the purchase of a peace officer vehicle, and another $20,000 for an Enviso software program for the town's human resources office. The remaining $250,600, as recommended by administration, will go into the town's General Capital Reserves Account, which does not have restrictions on where funds can be allocated and can be used by the town for future projects.
Heather Whymark, the town's director of corporate services who presented the surplus report, said $100,000 for the long-awaited new skatepark will be put into a special reserve account for the project, which will now have a balance of $155,960.
The $200,000 for the second phase of the Wayfinding Signage Project is committed for large signage at the town's entrance points. The town earlier invested about $93,000 for the first phase. Those funds will cover the cost for what the town terms as "lead signs," which direct citizens to various important local buildings and facilities, including the Arena, the Innisfail Aquatic Centre and the Town of Innisfail administrative building.
Whymark said the first phase will begin this spring while it's "hoped" the second will be completed later in the year.
In the meantime, the town's capital and general reserve accounts both have healthy balances. The General Capital Reserves Account now sits at $2.4 million, while the town's total reserves are now at a healthy $14.6 million.
"We are, as the auditors say, quite the healthy community," said Whymark, who noted the town received a favourable annual auditor's report from BDO Canada on March 26. "It was a good report. The town's financials are in a very strong financial base."
