On May 8 at the District of Houston council chambers, a special council meeting was held regarding the District ofHouston’s financial statements as well as the adoption of four bylaws.
The District of Houston hired Jeanne Macneil, partner of Edmison Mehr Chartered Professional Accountants, to audit the district’s financial statements.
“Each corporation must submit a set of financial each year. Basically what the statements show is the financial health of the organization. The statements show expenditures, receivables, investments and reserves,” said Michael Glavin, ChiefAdministrative Officer for the District of Houston.
According to the auditor’s opinion, Houston is the most consistent municipality in the North. “In the sense that it is verypredictable. The only thing to notify is that the receivables have decreased, which is a good thing, it means you will oweless money,” said Macneil.
Last year the water treatment was still outstanding having a difference of $1 million last year and now this year it is$773,000.
Taxes and other payables were $538,000 last year, this year it is now $389,000.
“The difference was the timing of when school grants cheque was cut,” said Macneil.
Long term debt includes the Houston Leisure Facility recreation centre and the fire truck that was purchased last year.
“The District of Houston has not had a lot of tangible capital asset purchases,” said Macneil.
Macneil said the expenses flow is fairly status quo year after year. “A few more expenses with the recreation centre thi syear. But overall, fairly standard.”
The District of Houston is not at risk for paying its debt, said Macneil, “You have cash to pay your all your debts and thereare no precluding concerns.”
Macneil said, “The audit went as smoothly as it could go without a director of finance for most of the years, so we thankeveryone for helping out with that.”
This same evening the water parcel annual tax rate was adopted at $3 per taxable foot, and the sewer parcel annual tax wasadopted at $1.32 per taxable foot. The five financial plan for 2017 to 2021 was adopted, as well as the property tax ratebylaw which indicates the dollars of tax per $1000 of taxable assets.
Under general municipal, residential is taxed at 7.04230, utility at 39.45270, supportive housing at 7.04230, major industry at 78.93610, light industry at 64.15170, business and other at 20.69630, managed forest lands at 22.65860,recreation and non-profit at 6.70370, and farm at 6.62880.