The City of Castlegar has released its audited financial statements and statement of financial information (SOFI) reports for 2020.
The city ended the year with $19.4 million in financial assets and $12.8 million in liabilities, leaving net assets at about $6.7 million.
The city’s reserve funds total $13.6 million. That includes money in the development reserve, equipment replacement, water, sewer, storm and airport funds.
The city also has $80 million in non-financial assets including its capital assets.
One of the city’s largest expenses is salaries. With benefits factored in, the city spent $5.8 million on employee-related expenses.
Municipalities are required to list all employees making more than $75,000 annually as part of their SOFI report. In 2020, Castlegar had 28 employees in that category.
Upper-level management accounts for the top eight salaries, which are all over $110,000:
Chris Barlow, chief administrative officer — $156,906
Ola Oladele, finance director — $136,308
Duane Monson, deputy fire chief — $132,135
Tracey Butler, director of corporate services — $128,762
Sam Lattanzio, fire chief — $128,548
Patrick Gauvreau, airport manager — $119,315
David Bristow, IT manager — $117,565
Nick Ahlfeld, deputy fire chief — $110,688
The remaining positions earning between $75,000 to $100,000 include journeyman carpenter, working foreman, communications manager, engineering technician, building inspector, operations manager, mechanic, maintenance water/sewer, planning technician, water and sewer maintenance person, treatment plant operator, parks maintenance person, senior systems analyst, manger of planning, and manager of corporate services.
The report also includes information on payroll for elected officials.
Mayor Bruno Tassone earned $36,800 from the city plus an additional $18,982 from the Regional District of Central Kootenay as a director representing the City of Castlegar.
Each city councillor earned about $16,000.