MOPC ends 2021 fiscal year with surplus

Council accepted the audited financial statements during a special meeting on Monday which showed a $1.1 million consolidated surplus for the year. The general operations of the Municipality contributed $738,996 towards the surplus. The MOPC’s largest revenue source continues to be property taxes which came in at $15,167,224 and its largest expenditure was protective services at $6,627,203.

“This surplus was less than the previous year, but this is because the federal grant, previously known as the gas tax, was doubled the year before,” said MOPC Warden Robert Parker. “Taxes collected were close to $400,000 more with no increase in the tax rate, thanks to a steady rise in new construction in our rural municipality”.

Auditors with MacDonald & Murphy Inc said the statements show the pandemic had minimal impact on the municipality’s finances and its ability to offer services to its more than 20,000 residents.

Warden Parker said the audited statements also include information about the MOPC’s rural internet project. Construction has begun on the fibre and wireless portions of the project, with wireless services available throughout much of the County being completed by spring of 2022.

“Our high-speed internet capital fund is now included in our financial statements. It shows $3.75 million spent as of March 31, 2021. This amount is funded largely by the gas tax from the federal government and a smaller amount from our own reserves with $600,000 debt financed. The larger expenditures will follow in the next two to three years as our network is built to provide quality internet services and enable improved cell service. The estimated cost for the project is slightly over $50 million to be financed over 20 years.”