(Becky Zimmer/northeastNOW Staff)

By Becky Zimmer

City of Humboldt 2020 audit shows strong financial position going into next budget season

Aug 26, 2021 | 1:13 PM

City councillors in Humboldt received the latest audit from MNP for 2020 which was brought to the last council meeting on Aug. 23.

Based on the documents presented to council, Humboldt is in a stable financial position with documents representing the city’s financial position as of Dec. 31, 2020.

Through 2020, the city saw nearly $16.4 million worth of revenue, about $1.3 million less than 2019 and only $250,000 off what the city budgeted for the year.

Expenses stayed mostly the same from 2019 to 2020 with $14.89 million budgeted for the year, $14.38 million accumulated throughout the year compared to 2019 which saw $14.45 million of expenses reported.

Mayor of Humboldt, Michael Behiel, told northeastNOW, accuracy is due to the executive team’s knowledge and expertise when dealing with cost analysis for projects and spending.

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“Through the guidance of the city manager, they’ve gotten so astute at that our expenses, our estimates and our actual expenses are coming in basically exactly where they should be.”

The city is looking at a surplus of over $3.78 million which will be addressed in the coming budget discussions.

That surplus will likely be going to continue large scale infrastructure improvements which has been a major focus of the city in the past years, said Behiel.

MNP had nothing negative to say about the audit, according to Behiel and other city staff, and it has been at least a five-year process to get to that positive audit point.

From an accounting perspective, Behiel sees this “stellar” audit as a testament to the work of city staff, from the directors all the way up to the especially hard working financial department.

A two per cent tax increase is expected in the coming year but that is a standard rise to match inflation.

City staff have been working hard to ensure that tax increases do not go beyond that with the 2022 budget season already in full swing.

City manager Joe Day along with department directors and finance manager, Lori Yaworski, have already started meeting to discuss operating and capital budgets for the upcoming year.

Meetings will continue from September to October before it is brought forth to council in November.

Dec. 6 is scheduled as the final presentation day for the budget.

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becky.zimmer@pattisonmedia.com

On Twitter: @bex_zim