OLDS — A quarterly financial report indicates that at 92 per cent of the past year gone, the Town of Olds had spent more than 70 per cent of its 2021 operating and capital budgets.
The report, presented by finance director Sheena Linderman during town council’s Jan. 10 meeting, covered the period from Jan. 1, 2021 to Nov. 30, 2021. She said that period covered 92 per cent of the town’s fiscal year.
Operating budget
By Nov. 30, 2021, the Town of Olds had obtained total revenue of $26,444,345, which comprised 85 per cent of 2021 budget ($31,141,470). A total of $4,697,125 had yet be collected.
Expenses to Nov. 30, 2021 totalled $22,102,848 or 71 per cent of the 2021 budget ($31,141,470). Dollars remaining tallied $9,038,622.
Capital budget
A total of $12,944, 919 had been allocated for various projects in the town’s 2021 capital budget. As of Nov. 30, 2021, $9,332,345 or 72.1 per cent had been spent.
When she gave the report several weeks ago, Linderman noted town staff were still receiving invoices so the report was not “100 per cent.”
“There is nothing out of the norm. Everything is quite under; as I said, 71 per cent,” she added.
"Would it be appropriate at this time to send out a compliment to the administration and also the managers of the budget, seeing that we were projected at a 92 per cent spend at this term and we are below budget in our numbers as we sit Jan. 1,” Coun. Dan Daley asked.
“Absolutely,” mayor Judy Dahl said. “It’s always appropriate to be able to compliment our administration and the work they do. So, duly noted.”
Daley’s motion to accept the report as information was passed easily.
