Accountant gives OK to 2016 financial statements
Brighton Councillors got a clear picture of the municipality’s financial standing on Monday night, after a presentation from accounting firm BDO.
Accountants went over the audit of the town’s 2016 financial statements which showed an increase in revenues, but also a jump in expenses and debt, mainly due to a number of ongoing infrastructure projects.
CAO Bill Watson tells Quinte News, the presentation showed that Brighton is in sound financial shape and is finding an important balance between borrowing and taxation.
The presentation noted that 50% of Brighton’s revenue in 2016 came from taxes and 22% came from user charges.
It showed the majority of the town’s $13.7 million in expenses went towards salaries and benefits, with another 26% spent on materials and 20% each on contracted services and amortization.
Brighton Health Services Centre undergoing major change
There’s a big transformation happening with the organization known as the Brighton Health Sciences Centre, now that the current family health team building was sold to the municipality earlier this year.
The sale means the BHSC is no longer managing the property at 170 Main Street and, as a registered charity, can use the money it’s accumulated over the years and from the sale, to make investments in the community.
Board Chair Bruce Davis tells Quinte News, the organization will take applications for funding and is looking to make investments into “leverage projects” which involve multiple partners.
The BHSC, which currently has about $703,000 to dole out, will be known as the Brian Todd Memorial Community Fund, once the province approves that name-change within the next couple of months.
Water and wastewater rates could rise significantly, but will stay competitive
Brighton’s water and wastewater rates could be going up a fair bit if council approves suggested changes.
A presentation from Watson and Associates to council last night suggests raising the rate from about $668 per year, where it is now, to about $700 per year in 2018 and with a jump of 9% per year through 2026.
CAO Bill Watson tells Quinte News, the increase is needed to cover the number of homes projected to connect to the water system in the future, as well as much needed upgrades to the town’s water treatment plant, but is still comparable with neighbouring municipalities.
Some councillors had questioned the projections presented by the consultants and staff has been directed to make sure they double-check those numbers before any decisions are made.
A public meeting on the water and wastewater rates will happen at the planning committee meeting on June 12th.
Municipality makes donation to Campbellford Memorial Hospital Foundation
Brighton Council has made a significant donation to the Campbellford Memorial Hospital Foundation.
At Monday night’s meeting, Mayor Mark Walas presented foundation Executive Director John Russell with a $15,000 cheque, to go towards the purchase of new medical equipment at the hospital.
The money will go towards the ongoing campaign of raising $350,000 this year for equipment like new lights for the operating room, a surgical bronchoscope and various other technology upgrades.
Since October of 2015, the foundation has been able to raise enough money to buy more than $884,000 worth of medical equipment for the hospital.