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Report shows Didsbury successful in lowering debt

Tuesday, Feb 07, 2012 03:00 am | By Staff Writer

The Town of Didsbury’s initiatives to show control in spending and build up its reserves for major community projects are showing success, according to a report by Chief Financial Officer Kynan Larson.

The Province of Alberta provides statistics to municipalities every year to allow them to understand where they stand financially in comparison to other municipalities of equal size.

Comparisons for 2010 were recently received and Larson reported to the town that there had been a definite improvement in their financial position over the past two years.

The median net municipal property taxes for the communities compared to Didsbury were $847, with Didsbury only slightly higher, at $865.

The report also showed that council had been successful in reducing the town’s long-term debt in 2010, with Didsbury at $1,103 per capita, down from $1,282 per capita in 2009.

The debt, however, is expected to increase over the next few years due to the North Industrial Storm Water Project and the Lagoon Expansion and Rehabilitation Project, which total at a combined cost of over $20 million.

Council and administration were also successful in reducing costs below the median of other communities in the following areas:

Sales and user charges per capita ($667)

Salaries, wages and benefits per capita ($603)

Contracted services per capita ($364)

Materials and goods per capita ($337)

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