City in good financial shape, auditor says

The City of Castlegar’s finances have been given a clean bill of health.

  • Jun. 18, 2015 8:00 p.m.

Betsy Kline

 

Castlegar News

 

The City of Castlegar’s finances have been given a clean bill of health.

Don Simpson of BDO Canada LLP, chartered accountants, presented the independent auditor’s report of the city’s 2014 books to city council Monday.

Simpson reported the firm felt the city’s management team did an excellent job managing the public coffers.

“$5.3 million net financial assets is a very strong indicator of the strength of the city in maintaining the assets on behalf of your ratepayers,” he said.

“[It] means you have money in the bank to preserve your infrastructure and maintain your infrastructure.

“Whereas other communities in our province are in a financial deficit, meaning they will have to borrow from future taxpayers to maintain and preserve their infrastructure. The City of Castlegar has come a long way to stand $5.3 million to the good.”

Simpson also discussed upcoming changes in municipal requirements that will mean city-owned properties contaminated in any way may need to be reported as liabilities.

Castlegar is ahead of most communities in trying to identify such properties and analyze whether it faces any risk.

“Your management team has also allowed us to share the work they have put together to try and lead other communities. So we are focusing with our other communities and giving the credit to the City of Castlegar,” Simpson said.

“Your management team is well aware of the issues and are working very diligently. The work I have seen so far is excellent.”

Councillor Kevin Chernoff thanked Simpson for recognizing the superior work of city staff.

 

“I think it is great that you think this of our staff, because we think our staff does a really great job. It is nice to be told they are being proactive and helping other communities. It is what we believe in as council too,” he said.

 

 

Just Posted

Born 1 pound, 11 ounces, Winlaw premature baby comes home

Indra Greaves was born at the Nelson hospital after just 24 weeks of gestation

Rebels beef up blueline as trade deadline closes

Tyson Soobotin, 18, was playing for the Nelson Leafs, and Elijah Havers, 17, joins the team from the Coyotes in Osooyoos

Scammers using Castlegar home for rental fraud

Local realtors say the problem is happening more frequently with their properties

Updated: Outbreak prompts advisory for visitors to extended care wing in Trail hospital

A respiratory infection has been active in Poplar Ridge Pavilion since Monday, advises IH

Trail area homicide investigation continues

Jan. 14 marked one year since Jordan Workman was discovered in the trunk of a burnt car

REPLAY: B.C’s best videos this week

In case you missed it, here’s a look at the replay-worth highlights from this week across the province

Patriots make 3rd straight Super Bowl, beat Chiefs 37-31 in OT

New England will meet L.A. Rams in NFL title game

Pettersson returns to lead Canucks to 3-2 win over Red Wings

Vancouver’s super rookie has 2 points in first game back after knee injury

Skaters stranded in Saint John, NB, amid storm on last day of championships

More than half of the flights out of the city’s airport were cancelled due to the weather

Call for tighter bail rules after Saudi sex-crime suspect vanishes

Mohammed Zuraibi Alzoabi was facing charges related to alleged sexual assault, criminal harassment, assault and forcible confinement of a woman

12 poisoned eagles found on Vancouver Island

Improper disposal of euthanized animal suspected

Olympic softball qualifier to be held in B.C.

Tournament is to be held Aug. 25 to Sept. 1

B.C. resident creates global sport training program

The 20 hour course teaches the science and application of interval training at the university level

B.C. VIEWS: Fact-checking the NDP’s speculation tax on empty homes

Negative-option billing is still legal for governments

Most Read