OLDS — Halfway through their fiscal year, Town of Olds officials have spent 40 per cent of the 2022 operation budget and 12.2 per cent of the operating budget.
That’s about par for the course, finance director Sheena Linderman says.
“As you know, most of our capital happens in July and August, so that is to come in the next update,” Linderman said during town council’s Aug. 22 meeting.
The figures are contained in a report filed by Linderman and approved by council during that meeting.
Town council approved the 2022 operating budget on April 11 and the capital budget on July 11.
According to Linderman’s report, total revenue for 2022 is budgeted to be $31,742,919. Total revenue collected as of June 30 was $22,603,694.
Total expenditures for the Town of Olds' 2022 fiscal year are also budgeted to be $31,742,919. As of June 30, the municipality had spent $12,841,600.
This year’s capital budget was set at $7,093,024. As of June 30, a total of $864,166 had been spent.
“lnvoicing does lag slightly and therefore the total amount spent and committed to be spent would be slightly higher,” Linderman reported.
Council passed a motion to accept Linderman’s financial report covering the first half of 2022 as information.
