Mountain View County council has passed a motion in support of the 2019 Mountain View Seniors' Housing (MVSH) 2019 total requisition of $2.45 million. The move came during council's recent regularly scheduled meeting.
The MVSH operates seniors' housing facilities across the county. It is supported in part through requisitions from area municipalities, including Mountain View County.
The draft 2019 MVSH budget calls for revenues of $16.3 million, including $9.5 million from rent revenue and service fees, $4.3 million from health authority grants, $2.4 million from municipal requisitions, $758,992 from Alberta Seniors and Housing grants, $548,489 from amortization of deferred capital contributions, and $67,848 from utility recovery.
Total expenditures of $16.1 million include $8.9 million for salaries, wages and benefits, $1.3 million for maintenance and facility services, $1 million for telephone and utilities, $838,917 for food, kitchen and linen supplies, $128,802 for insurance, $69,155 for resident care contracts and health-care supplies, and $57,557 for property taxes.
As of September 2018, MVSH had total assets of $60,296,426 and total liabilities of $57,796,085.
Members of the MVSH management body are the towns of Olds, Sundre, Didsbury, Carstairs, the Village of Cremona and Mountain View County. Reeve Bruce Beattie is the chairman.
In other council news, councillors have reviewed proposed amendments to the reserves policy #1008 to add the agricultural society arena reserve – Cremona, and the Carry Over Project reserve #1008 (r).
The update also came during the recent council meeting.
“It would simplify the budgeting process to create reserve funds for the funds earmarked for projects that were previously approved yet had not been completed in the budget year,” administration said in a briefing note to council.
“This would allow administration to present a balanced budget forecast for the projects that required a new funding commitment. Once year end is complete and the assessment roll has been finalized, administration would bring forward to council the carry forward project amounts and council may approve the reserve additions at this time.”
The amended policy #1008 states that the purpose of the reserve is to “move funds budgeted from general revenue into a reserve for the single purpose of funding the Cremona Agricultural Society arena renovations.”
The Carry Over Project reserve’s purpose is to “move funds budgeted for in a fiscal year that were not spent from internal resources and debt to a specific reserve. Internal resources include any revenue apart from any type of grant and reserves.”
A background note attached to the Carry Over Project reserve policy states that, “As part of normal operations, projects may not finish in their budgeted fiscal year for a multitude of reasons. The creation of this reserve will allow the council approved budgeted allocations to remain in effect for a period longer than a year.
“The creation of this reserve will simplify the budget process and justification for the tax rate bylaw, and ensure residents are not being taxed multiple times for the same project.”
