Two months into the fiscal year and the 2023 budget for The Blue Mountains is tracking well, according to the town's finance department staff.
At its committee of the whole meeting on April 3, council received the first bi-monthly update about the town’s 2023 financial situation. Every two months, town finance staff report to council about the town’s financial situation.
The report included: a development charges update, an update on the finances of the Blue Mountains attainable housing corporation, bid and contract awards over $25,000, a town salaries and benefits tracker and an update on any revenues or expenses tracking plus or minus 10 per cent of the budget.
“Being two months in, there’s not a ton to report on,” said the deputy-treasurer/manager of accounting and budgets Sam Dinsmore.
The report showed that at this time, there were no town budget lines tracking either plus or minus ten per cent of budget. In addition, the town also experienced an uptick in development charges collected in January and February 2023 as compared to the same two months in 2022. During the first two months of 2023, the town collected $746,430 in development charges compared to $673,098 in January/February of 2022.
Dinsmore said the revenues were tracking as expected with no major variances.
“It’s a good place to be in at the end of two months,” he said.
