Financial

Administration and department heads always strive to complete all budgeted projects and spend as wisely as possible, but the unexpected does come up and sometimes things do not get done and so there are variances in the actual numbers compared to budget.

In 2023, actuals compared to the Town budget ended as follows:

                                                                                            Budget                                                    Actual

Actual revenues ended 3.6% higher than budget while actual expenses were lower by less than half a percent. The resulting difference (surplus) in 2023 was $115,698 - council approved that $110,000 be moved into reserves for future use. 

Several factors led to the higher than budgeted revenues with investment income and bylaw/fine revenue being the biggest contributors. The lower than budgeted expenses were very much within tolerance levels. 

In review of the operational budgets, twelve out of the fifteen categories finished with spending below budget and only three finished over budget.