The City of Dryden finished the 2019 fiscal year with a roughly $500,000 surplus.
The preliminary year end financial statement shows operating revenues at $29,746,449 and expenses at $29,238,092.
Treasurer Steven Lansdell-Roll says revenues were about 1% lower than expected and expenses were about 2.7% lower than projections.
Lansdell-Roll says they did have some vacant staffing positions that weren’t filled last year.
Final salary, wages and benefits came in at $13,105,508, $534,826 below expectations.
Lansdell-Roll says the capital program for last year called for roughly $313,000 in City funding and that was fully utilized.
He notes some projects weren’t completed because those were based on external funding sources that didn’t come to fruition.
Those include:
-Library Shelving
-Airport Sweeper
-Airport Wet Dry Material Spreader
-Rec Centre: Pool Roof Replacement
-Rec Centre: DWV Piping Replacement
-PW Sanitary Manhole Lining
-Fire Breathing Apparatus Cylinders
The General Reserve Fund for the City of Dryden stands at $4,500,689.
The 2019 financial statement shows an outstanding debt of roughly $13-million.
Lansdell-Roll says “The end of 2020, which is this year, our debt servicing costs are going to be at a much more manageable level than they have been in recent years. So the hope is that starting in 2021 we can address additional infrastructure needs.”
In 2021, the city’s long-term debt repayments drop to just over $1-million.
The year end finances still have to be audited.
