Budget in ‘pretty good shape’ 6 months in, despite airport, other early shortfalls: Mayor
Six months into 2018, and it is a bit of a mixed bag when it comes to Prince Albert’s books.
The monthly miscellaneous and general fund financial reports ending June 30, 2018, were on the agenda Monday afternoon for city council’s executive committee meeting. The statements are not audited and many year-end adjustments will be necessary that can result in corrections.
While most departments are operating on or under budget, a few accounts are bearing red ink.
Most notably, the city’s airport fund is unfavourable to the tune of $127,160, thanks mainly to a reduction in parking stalls and a switch to monthly payment fees from Cameco, as opposed to lumpsum deposits typically paid in January. The company has reduced its number of stalls to 200 from 255. Revenue in this area is anticipated to be down $33,000 by year-end.