YORKTON - It might have been a year in which Yorkton was in the middle of the COVID-19 pandemic, but financially 2021 was still a good one.
The city actually showed an overall surplus of $1,337,297, Ashley Stradeski, Director of Finance, with the City told the regular meeting of Yorkton Council as part of a preliminary look at the 2021 year-end report.
However, when the bonus Gas Tax Funding of just more than $1 million was subtracted the operating surplus was $315,896.
Stradeski explained the money from the gas tax was applied to our approved Gas Tax funded projects and is not available as part of the operating surplus.
As in previous years, it was recommended to transfer 50 per cent of any departmental surpluses to reserves depending upon which departments had net savings, said Stradeski.
In total it was recommended $267,000 be allocated to reserves.
The remaining $148,896 will go into the city’s ‘Rainy Day’ reserves.
The new dollars would grow the ‘Rainy Day’ reserve to a total of $932,302, said Stradeski, who added that does not mean that much is available to use.
Of the amount, $270,000 is committed to the Brick Mill Project and a further $131,000 has been committed for school zone speed signs, leaving approximately $531,302 available, he said.
Council did authorize Administration to make the 2021 year-end transfers to reserves in conjunction with net departmental results.
Administration will bring a final report back to Council noting the transfers and the remaining surplus for Council’s consideration in conjunction with the year-end audit results.
