PRRD Financial information from Manager of Financial Services Linda Greenan

Here is the complete text of an extremely helpful reply to my question(s) about financial details from the PRRD concerning Lasqueti. There is lots of information in the email, and more details are in the 2015-2019 Financial Plan..

 

Hello Mr. Johnston,

Yes, the 2014 Statement of Financial Information will be ready by June 30th. 

Regarding the expenses related to Lasqueti/Area E, including fire protection, they are shown on the 2015-2019 Financial Plan which can be found at the following link. http://www.powellriverrd.bc.ca/wp-content/uploads/2015-2019-Financial-Plan.pdf
The fire protection service is shown on Page 75 of that document. Costs for that service are increased by $36,310 in 2015 over what could possibly be portrayed as a typical budget year. The increase is to pay for the following extraordinary costs: $15,000 for pagers; an extra $5,000 for training; $7,000 for legal costs anticipated for legal surveys and costs associated with the fire hall property; $11,000 for drawings of a potential new fire hall. 

It should be reminded that directors and staff do their utmost to financially crystal ball the fiscal year. This is important because the Local Government Act prohibits the Regional District from making an expenditure that is not provided for in that year's financial plan. So, when there is an anticipated or even an inkling of something transpiring, it is best to err on the side of caution because if the opportunity arises and funding was not included in the budget then we must pass it by.

There is currently a capital lease payment for a 2003 fire truck in the Lasqueti fire protection budget. The final payment for that lease will take place in 2016. 

Long-term borrowing is proposed to start in 2017 for a potential new fire hall but it will require public approval.

The other services that benefit and are only paid for by Lasqueti Island property owners are: Lasqueti Waste Management (page 64);Community Recreation (page 67); Lasqueti Library (page 69); and Lasqueti Ramp (page 89). A summary of the taxation and residential tax rates for Lasqueti Island are shown on page 39 of the document. If you look only at the residential tax rates per $100,000 for the Regional District and Regional Hospital District, property owners on Lasqueti will pay $7.54 less overall per $100,000 in 2015 than they did in 2014. They will pay more for both the property value tax and the parcel tax for fire protection  and the reason for that is explained above. 

In 2015 Lasqueti Island residential tax payers will pay $225.44 per $100,000 of residential assessed value and a flat tax of $78.13 for fire protection. To summarize, the owner of a residential property assessed at $200,000 will pay $529.01 for Regional District and the Regional Hospital District services in 2015. In 2014 the same property owner would have paid $531.04 for the same services. 

Should you have any further questions, please contact me.

Sincerely,

Linda Greenan, CPA, CMA
Manager of Financial Services

CALL US    WE ARE YOUR LOCAL GOVERNMENT

Powell River Regional District
#202 – 4675 Marine Avenue
Powell River, BC  V8A 2L2
T. 604.485.2260
F. 604.485.2216
www.powellriverrd.bc.ca
Save a tree. Do not print this e-mail unless it is really necessary.
   
The information herein is confidential and may contain privileged information. It is intended solely for the person or entity to whom it is addressed. 
Any review, re-transmission, dissemination, taking of any action in reliance upon, or other use of this information by persons or entities other than the intended recipient is prohibited. 
If you believe this message was not intended for you, please notify the sender and delete or destroy all digital and printed copies.

-----Original Message-----
From: Peter Johnston [pjohnston [at] lasqueti [dot] ca (mailto:pjohnston [at] lasqueti [dot] ca)] 
Sent: April-19-15 8:46 PM
To: Linda Greenan
Subject: Re: Regional director remuneration

Hello Ms Greenan,

Do you know when you expect that the 2014 Statement of Financial Information might be ready and posted on the RD's website?

The only two expenses that I can identify as related to Lasqueti/Area E are our director's remuneration and expenses and the payment to Robyn Dryburgh.  I believe that we also have a multi-year loan for our fire department, which I thought would show up. Perhaps the annual operating 
costs of the fire department are too small to be reported.   Could you 
please let me know where I can find information pertaining to other Lasqueti service costs and expenses?

Thank you very much.    Peter



On 17/04/2015 10:21 AM, Linda Greenan wrote:
Good morning Mr. Johnston,

Yes, a copy of the current directors' remuneration bylaw is attached. The following link will take you to a copy of the 2013 Statement of Financial Information which shows a summary of all of the remuneration (including meeting claims) and expenses per director http://www.powellriverrd.bc.ca/wp-content/uploads/SOFI-2013.pdf When the 2014 Statement of Financial Information is prepared and approved it will be posted on the Regional District's website in the Finance Section.

Sincerely,

Linda Greenan, CPA, CMA
Manager of Financial Services



 

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.
CAPTCHA
This question tests whether you are a human visitor, to prevent spam submissions.
The answer can easily be found on this site if you don't know it.
Don't stress - if you get it wrong, you'll get another chance, just try again :-)
6 + 11 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.
To prevent automated spam submissions leave this field empty.