The total financial assets of Mountain View County increased by almost $2 million in 2018 over the previous year, according to audited financial statements presented to county council.
Councillors reviewed and approved 2018 audited financial statements for the municipality during the recent regularly scheduled council meeting.
Audited by MNP Ltd, the statements are a summary of the county’s financial position as of Dec. 31, 2018. The statements were reviewed by the audit committee prior to coming before council.
According to the consolidated statement of financial position, total financial assets as of Dec. 31 were $68.423,992, up from $65,615,357 in 2017. Cash and temporary investments totalled $6,141,945 compared with $2,423,966 the previous year.
Total liabilities were $27,313,031, down from $30,679,701 the previous year. Long-term debt was $7,155,978, down from $7,872,820 in 2017, while other liabilities totalled $1,366,512, up from $1,088,559.
Net financial assets totalled $41,110,961, up from $34,935,656 in 2017.
Total non-financial assets were $163,881,646, up from $158,422,481 in 2017.
According to the consolidated statement of operations, revenue in 2018 totalled $34,914,136, up from $33,844,093 in 2017.
Revenues included $1,358,917 return on investments, up from $1,184,424 the previous year.
Total expenses in 2018 totalled $35,046,641, down from $38,453,191. Council expenses were $580,577, CAO services $757,808, corporate services $2,246,049, planning $999,966, legislative and community services $1,180,902, and operational services $21,139,565.
Net taxes available for municipal purposes totalled $29,004,339, up from $28,709,878 in 2017.
The complete financial statements are available for viewing on the county’s website.
