MOPC ends 2019-2020 Fiscal Year with a Surplus
The Municipality of Pictou County ended its 2019-2020 fiscal year on a positive note.
Council approved its year-end financial statements during a special meeting Monday with a surplus.
"I am pleased these statements show that our Municipality is in excellent shape, with an increase in net financial assets of close to $2 million," said MOPC Warden Robert Parker. "Taxable revenue increased by $500,000 even though we held the tax rate at .81 per $100 assessment residential and $1.82 per $100 assessment commercial. "
Warden Parker said one reason for the increased revenue from taxes was the new construction each year in the rural Municipality.
"The more we can do to improve life in our rural area, the more this new construction will continue," he said.
Total reserves increased by $1.75 million to $8.9 million, and a significant contribution to this was the doubling of the gas tax, received annually from the federal government, he said. During the 2019-2020 fiscal year, this contribution was double the normal at just over $2 million.
"It is good news because these considerable reserves give the Municipality's rural internet project a good start.
Outside the mandatory provincial contribution of $5 million for education, the Municipality's largest operating expenditure is for policing services, primarily made up of RCMP at $3.3 million and fire protection at $3 million, most of which shows tax bills as a separate levy. The total for protective services is $6.7 million, a figure that he says Council needs to monitor continually.
"Overall, 2019-2020 was a very positive year financially for our Municipality while at the same time, completing major water and sewer projects and contributing to many community and recreation projects," said Warden Parker.