Recent History – 2003-2005
By Brad Lyon
The Village of Pouce Coupe is in very good financial shape, with a surplus of over $1.1 million for the year ended Dec. 31, 2004. Dale Rose of Sander Rose Trobak presented the 2004 consolidated financial statements and auditor’s report to council at Monday’s regular meeting. The audited figures show that the village had financial assets of just over $1.4 million, and liabilities of just over $327,000. That left the village with net financial assets of $1,116,105, if it were to liquidate its cash and pay all its bills.
“It looks that the financial position of the village is very solid at this point, probably a very enviable position,” Rose said. “Financial assets of $1.1 million is a pretty strong position, so congratulations.”
Rose pointed to a reduction in capital expenditures as a key element in the solid bottom line.
“Capital expenditures were down from budget and significantly down from last year, and that’s really what made the biggest difference in your financial position,” Rose said in his presentation. “Council’s desire was to try and improve the financial position of the village and hold back on some of the capital expenditures compared to prior years, and that had a positive impact on your financial position.”
During 2004, Pouce Coupe spent $117,877 on capital expenditures, which was significantly less than had been budgeted ($275,000), and more than two-thirds less than what was spent in 2003 ($697,998). Acting mayor Sandy Hull said that the big difference in those two years was the village’s focus on developing the industrial park. In 2003, money was spent to develop the park.
“Then, the revenue came in 2004. I was quite pleased when I looked at it,” Hull said.
Sander Rose Trobak audited the consolidated statement of financial position for the village, based on figures provided by administrator Sandra Wollen. Rose congratulated Wollen and village staff for their work on the report.
“In other words, it’s a clean audit opinion for the village. Once again congratulations to Sandy and council for that,” Rose said.