Projected Budget Variance Shows $780K Surplus

Chatham-Kent Civic Centre, July 23, 2015. (Photo by Mike Vlasveld)

The municipality is forecasting a surplus just over $780,000 for this year.

In a report presented to council earlier this week, the expected budget variance had been outlined based on June’s numbers.

There are several departments that contribute to the projected surplus, the major ones being infrastructure and engineering services, as well as police services.

Director of Budget & Performance Services Gord Quinton says the numbers are still very preliminary and expects to release more concrete numbers by the end of October.

Even if those numbers show a surplus near the $780,000 mark, Quinton says it’s still not a lot considering the municipality has a $290-million operating budget.

As for where that money would go, Quinton says because it’s a one-time surplus they would use the money on one-time projects.

“[That way] we don’t have to raise new tax money to pay for those one-time projects,” says Quinton.

He also says recommendations would have to be made to council to determine which projects would receive funding.

A draft budget will presented to council on January 18, 2017.

To view the full June 2016 Budget Variance Forecast report click here.

-With files from Jake Kislinsky.