INNISFAIL – The Town of Innisfail has recorded a $703,489 surplus from 2024 and is putting most of it into the approved Innisfail Aquatic Centre Modernization project, which could have a final price tag of about $15 million.
The remaining surplus money is going into several carry over and new capital projects and programs.
On April 14 during a regular meeting, town council approved a trio of motions that green-lighted the town’s 2024 fourth quarter financials report, necessary budget adjustments and the allocation of the $703,489 surplus.
While presenting the 2024 quarterly financials to Innisfail council, Erica Vickers, director of corporate services for the Town of Innisfail, noted the $703,489 surplus was calculated from the difference of final 2024 town revenues of $1,987,958 and final expenses of $1,284,469.
The town’s final total revenues for 2024 came in at $30,225,040, which represented an increase of $1,987,958 over the 2024 budget that was approved by town council on Dec. 11, 2023.
Council was the told the final total expenses for 2024 was calculated at $29,521,550, an increase of $1,284,469 over the approved budget.
Vickers recommended to council that $512,989 of the $703,489 surplus be allocated to the Facility Reserve, monies that now total $2.8 million and earmarked for the Innisfail Aquatic Centre Modernization Project, which was also approved by council on April 14.
The remaining $190,500 from the surplus will go into the Operating Reserve for the following allocations:
• $130,000 carry over from the 2024 budget that includes $35,000 for the Fire Services Master Plan; $10,000 to the Emergency Coordination Centre; $20,000 for roads maintenance; $55,000 into the infill program, and $10,000 for economic development services;
• $25,000 for the sidewalk program;
• $10,000 to the tree planting project;
• $15,000 for fire gear replacement;
• $10,500 for a fire department office renovation to create additional meeting space and office on the second floor of the Fire and Protective Services building.
“Those five projects were items that were in budget 2024 that we were unable to complete, so we wanted to carry them over to 2025,” said Vickers. “We did have a sidewalk program in 2024 and there were two sidewalk projects that were delayed, so they will come back in 2025 to go forward.”
She told council there were also two additional carryover projects that originated from the utilities department, and fully funded from the Utilities Reserve and not from the surplus.
Those projects include a $32,000 renovation of Reservoir #1, which involves converting the facility into a cold storage building, and $25,000 for a safety camera review.
Vickers told council the 2024 reserves have an end balance of $16,856,077.
She said funds taken from reserves to fund projects in 2024 were $2,794,147 and transfers to reserves were $3,609,520.
