council WHOLE

Mother nature and extra revenue is leading to $324 thousand dollar surplus for the city in 2015.

The 2015 numbers are out and Treasurer, Jamie Howie says he pleased to report the un-audited numbers show a $324,236.36 surplus.  He says most of it came from two sources of revenue.

“Our supplementary tax assessment was $750K over budget and  our surplus interest revenue of $426K made up the large amount of that.”

The money will be stashed away in reserve funds for when the city needs it most but it was all rosy around the council table, Howie did outline major areas where they were over budget.

“We had shortfalls of $195K in our permit revenue, and $600K in revenue from our federal gas tax grant, which was deferred to 2016.”

“Storm sewer expenditures were over budget by over $262K due to our harsh winter condidtions and our winter control costs were under by over $400K. Favorable weather conditions eliminated the deficit in that area.”

The city had higher garbage collection costs of $162K but tipping fees made $134K and a settlement with Stewardship Ontario reduced this deficit to just $75K.

Howie also expressed concerns with by how much over budget the city was with the Timmins Police Services.

“Wages and benefits were over budget by $495K. Mulit-year insurance claims along with multi disciplinary issues have left legal claims higher than anticipated. Cuts to capital and maintenance expenditures as well as an increase in the Ministry of Health Grant helped reduce the net deficit to $214K.”

Mayor and Council spent an extra $50K in their budget.

A full breakdown is available by clicking here.