By Matt Kelly

Clean record for 2015 N.B. financial statements

Jul 8, 2016 | 5:00 PM

According to the audited financial statements, North Battleford met its fiscal targets for 2015 and ended up with some money left over for capital projects.

On June 20, the 2015 audited financial statements were presented to the City Planning Committee by the City of North Battleford and external auditors Holm Raiche Oberg.

The results show total expenses for 2015 were $36.8 million while the revenue was $40.7 million, leaving $3.9 million in excess of revenue.

City Manager Jim Puffalt said it’s not like having an extra $3.9 million sitting around. The surplus is planned for within the budget.

“When we budget, we budget to have that excess used for capital projects and so as the money becomes available we create the projects and get the work done,” Puffalt said.

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The excess is also contributed to long-term reserves.

Ratifying 2015’s financial statements in the following year is expected, Puffalt said, adding it takes time for the numbers to be properly assessed.

“We do a lot of year end work and then the auditors come in and review the work we’ve done and give us an opinion on the statements,” Puffalt explained.

According to a release, the auditor commented this year’s review was completed two months ahead of previous year.

Matt Kelly is battlefordsNOW’s town municipal affairs and community reporter. He can be reached at mkelly@jpbg.ca. Concerns regarding this story can be addressed to News Director Geoff Smith at 306-446-6397.