The District of Squamish (DOS) saw more money coming into its pocket last year than in the previous year.
Between 2009 and 2010, the local government's revenues jumped by $3.2 million. Municipal property tax increases and water and sewer levies accounted for approximately $1.5 million of that jump. The district also received provincial and federal government grants that accounted for $1.3 million of the overall revenue gain.
Municipal operating expenses fell, which is attributed to streamlining municipal services, delayed staff replacements and the postponed maintenance of Squamish's sewage system. By the end of 2010, general operating expenses were under budget by $500,000, while sewer costs came under budget by approximately $200,000.
Those savings, together with the increased revenues, were enough to offset some of the bills that came with the 2010 Winter Olympics, reported the district's 2010 Financial Statements.
According to the new accounting system mandated by the Public Sector Accounting Board, Squamish came out with a $7 million surplus. That figure can be confusing, said Joanne Greenlees, DOS chief financial officer. When using the municipality's traditional reporting model last in place for 2008, the 2010 surplus amounts to $1,579,936, she noted.
Under the new model, part of the surplus calculation is an expense called amortization, while capital expenditures are left out of the formula, Greenlees said. The surplus also includes the municipality's subsidiaries. The traditional model more closely aligns with the "current" balanced budget accounting practices, Greenlees noted, while the new reporting model was created to make standards in B.C.'s municipalities more uniform.
Salaries increased by 2.9 per cent compared to 2009. Remuneration sat at $9,661,268, according to the statements, a jump of $242,394. As required by the Financial Information Act, the DOS published the names of all staff earning more than $75,000. Twenty-seven employees made the list, five less than in 2009. But Greenlees noted that the number of employees who were paid more than $75,000 could be higher. The report doesn't capture details such as employees joining the district at different points in the budgeting year.
In 2010, the highest-paid employee at the district was its chief administrative officer, Kevin Ramsay, earning $174,789. He was followed by the district's fire chief, Tom Easterbrook, who made $120,105.
The district handed out three severance agreements to non-union employees. The largest sum was $216,016, including an equivalent of 12 months' compensation for salary and benefits. The next package was for $29,538, with an equivalent of four months' compensation for salary and benefits, followed by $12,100, including an equivalent of 2.5 months' compensation.
