City of Powell River council adopted financial bylaws and the five-year financial plan at a special council meeting held recently.
The meeting occurred a day before the statutory deadline for adopting the bylaws, which set the annual tax rates, utility fees and approval of the five-year financial plan.
Tax rates include a 3.8 per cent increase to residential properties and a one per cent increase to businesses for 2012. According to information from Dave Douglas, the city’s director of financial services, the tax increase will raise approximately $357,542. City council has decided that these revenues will be put into reserves for asset management.
The major industrial tax rate is set at $2.25 million.
As well, there is a five per cent increase to sewer fees and a 10 per cent increase to water fees.
The increase to sewer fees amounts to about $250,912 and the increase to water fees to about $197,798.
Linda Sowerby, manager of financial services, presented the 2011 audited financial statements at the meeting as well, the first time council had seen them. She explained the auditor does not sign the statements before they are accepted by council.
The audit was conducted by BDO Canada LLP. “We were given an unqualified opinion once again, which is the highest form of assurance that an auditor can provide,” Sowerby said. “It has been made without reservation, indicating that the audit tests and procedures yielded reliable results.”
The audited financial statements have to be approved by May 15. There was a quorum at the special council meeting, but three members of council were absent, Mayor Dave Formosa and councillors Jim Palm and Russell Brewer.
Councillor Maggie Hathaway said she had some difficulty receiving a report that has no option except accepting it. “We’re only four people here,” she said. “If I voted against it, it doesn’t pass. I just feel like I’ve got a gun to my head and a little bit resentful.”
She would have liked at least to go through the document, Hathaway added. “I can’t even formulate any questions,” she said. “Hopefully—we say this every year—next year we can get them in a timely manner. This is ridiculous, really.”
Councillor Chris McNaughton said he thinks the budget could be done in a more timely fashion. “That is really up to us,” he said. “Audited statements, we’re at the mercy of the auditors and when they complete their tasks. I think staff has been working very closely with the auditors.”
When the vote was taken, councillors present at the meeting unanimously agreed to accept the 2011 audited consolidated financial statements as presented.
