Finances seem to be in order for the Town of Ponoka according to first quarter operating and capital statements of 2016.
Town council approved the statements Tuesday, May 10 during its regular meeting, which shows an operating surplus of $641,000, explained Sandra Lund, director of corporate services.
While there is a relatively sizable surplus, by the end of the fiscal year that amount will drop considering many large projects are to be completed over the summer.
Revenues show $4.1 million of the $16.7 million budgeted with expenditures at $4.1 million of the $26 million budgeted for the first three months of the year.
The town’s capital statement shows a similar situation with $10.3 million budgeted for expenditures with only $1.3 million spent so far.
Large capital projects for the town show $1.4 million for administration building development. The North Bridge project is by far the biggest one this year budgeted at $4.4 million. Another $400,000 is set aside for the paving replacement program and $386,000 for the equipment replacement program.
Sponsor request approved
A request to the town to be a sponsor of the Canadian Barrel Horse Incentive with $500 was approved.
“It is a very busy, great event,” said Coun. Teri Underhill, speaking in favour of sponsorship.
A winning buckle in the amount of $500 will go to the winner of the event, which is set for Oct. 6 to 9 at the Calnash Ag Event Centre.
Sponsorship also gets the town’s logo on the buckle and the event has been supported in the last two years by the town.
National Public Works Week
In recognition of National Public Works Week council approved the proclamation of the week from May 15 to 21 in the Town of Ponoka.
Council approved the appointments of members to several committees:
Parks, Recreation and Culture Advisory Committee
Justin Kelly from May 10 to Dec. 31, 2017
Julie Feragen from May 10 to Dec. 31 2016
Police Advisory Committee
Calvin David and Deborah Hycha for two-year terms from May 10 to April 30, 2018
Megan Jones for a one-year term from May 10 to April 30, 2017
Miranda Pinksen for a two-year term from May 10 to April 30, 2019