“We’re looking at $2.5 million with this transfer,” said South Dundas treasurer Shannon Geraghty at the June 5th council meeting.
South Dundas saw a surplus of $642,503 in 2011, which was transferred to the working capital reserve.
Geraghty requested council accept the 2011 financial statements as presented by Jamie Pollock of Craig Keen Despatie Markell LLP during the May 15th council meeting.
During his request to council, Geraghty also pointed toward the suggestions Pollock had made concerning some deficiencies.
“We’re currently working on these and over the summer we’ll be providing council with alternatives on how we’re going to deal with this.”
Two of the more recognizable issues noted in Pollock’s presentation are:
• Future landfill closures and lack of funds to cover costs associated with closure
• Water/sewer fund deficit and options to address the deficit, which may include an increase in user rates
Councillor Evonne Delegarde requested an update on where things stand with the water/sewer fund issue to which Geraghty replied, “we’ll be presenting council with plans over the summer,” followed by a public meeting in the fall and implementation in the new year.
Also, during the discussion, mayor Steven Byvelds relayed that the United Counties of SD&G had offered financial assistance with respect to the resolution approved a month prior concerning multi-residential taxes.
“I don’t think we need any assistance from the counties,” said Byvelds. All agreed.
In terms of the $2.5 million, Geraghty asked, “does council have any desire to earmark any of that money now?”
Deputy-mayor Jim Locke said, “there’s no rush on it as far as I’m concerned.”
Byvelds agreed. He also suggested that “we should keep $2.2 million” in reserve.