YORKTON - The draft edition of Yorkton’s 2021 Audited Financial Statement was unanimously approved by Yorkton Council at its regular meeting Monday.
With the approval the Director of Finance will sign the representation letter to the auditors; and further that the final 2021 Financial Statements be created and hereby approved.
In addition, in a related matter Council approved the 2021 Municipal Public Accounts.
Amber Matechuk – City Controller, with the City provided the background report on the 2021 Audited Financial Statements.
“Annually, the City of Yorkton undergoes a financial audit, provided by the firm Baker Tilly,” she explained, adding, for the year ended December 31, 2021, they have reviewed our processes and financial records.
“We are pleased that their Independent Audit Report states that we have complied with the Canadian Public Sector Accounting Standards, and they confirm that our financial statements present fairly, in all material respects, the City’s financial position and the results of its operations for the year 2021,” said Matechuk.
Matechuk added, per auditing standards, an official financial statement cannot be issued until the auditors receive approval from Council.
In terms of long-term debt, Matechuk noted the City’s debt limit is $42,000,000, but only $7,650,908 is outstanding, including $2,364,503 on the fire hall, $1,707,000 on the water treatment plant and $3,579,405 on work on Dracup.
“This leaves the city with approximately $34,300,000 of debt available,” added Matechuk. “. . . Future requirements for long-term debt may be needed to finance the Deer Park Clubhouse, potential Gallagher/Kinsmen Arena upgrades, as well the York Road Reconstruction.”
In regards to public accounts annually the City of Yorkton is required to disclose its public accounts in accordance with The Cities Act and The Cities Regulations. This document includes:
* Employee salaries of $50,000 or more
* Council remuneration
* Contracted expenditures of $50,000 or more
* Grants and subsidies of $50,000 or more.
A digital copy of the unicipal Public Accounts package will be posted online on the City’s website. Should the public request a physical copy, those will be available at City Hall for $10.00 a copy.
