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County is in good financial shape
SANDRA M STANWAY
Brooks Bulletin

As of the end of the year the county was in good financial shape.
At the last council meeting KPMG representative Mark deBlois presented the financial audit for 2016.
He said the net financial assets are $60.2 million which leaves the county in a situation where it is able to have funds to continue projects or to look at other projects.
“You’re in a good financial position,” he said.
DeBlois added both infrastructure and the net financial assets are growing which is positive.
“If your infrastructure was shrinking and your net financial assets were also shrinking then there’s some cause for concern,” he said.
Between 2015 and 2016 the financial assets increased by $1.9 million which is consistent with 2014. He also noted there is a significant decrease in financial liabilities.
Long term debt has decreased and the accumulated surplus is $288.7 million compared to $275 million in the prior year.
“The lion’s share of that would be assets that are invested in infrastructure. It’s not spendable money,” he said.
The total revenue for the year was $36.2 million with a budget of $34.6 million. It was $39.2 million in the prior year.
“You’re right in the middle.”
The property taxes are also in line with the budget and prior years, he said.
Total expenses for the year were $27.4 million which was up from $26.8 million in the prior year and down from the budget of $28.5 million which left the county with an annual surplus of $13.5 million including $11.7 million in tangible assets.
When it comes to tax payments by ratepayers, deBlois said there is a slowdown but the amounts are reasonable.
Typically, 98.62 per cent of county property taxes were collected during 2016.
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