Leduc gets thumbs up from auditor

2023 Financial audit

A clean bill of financial health was given to Leduc city council at Monday's regular meeting.

"This is where I like to take my time and truly give kudos to administration," Chris Cholak, the auditor from MNP said in his presentation.  "Everything went incredible smoothly this year."

No concerns were raised as the findings of the auditor were presented.  In fact, Cholak praised the city for its fiscal responsibility, particularly when it came to managing both incoming revenue and expenditures.

"I think this is just because of conservative budgeting by yourself as members of council as a whole.  Especially given the economic situation of Alberta," Cholak said.

On the expenditure side, Cholak noted a large chunk of the funds spent by the city in 2023 went to salaries, wages and benefits for staff.

"To provide services, you have to have people to provide those services," he noted.

Following Cholak's presentation, council passed motions on the following recommendations unanimously;

That Council approve the Audited Financial Statements for the year ended December 31, 2023.

That the 2024 Operating Budget be adjusted to include the Operating carry forwards of $50,000.

That the 2024 Capital Budget be adjusted to include the Capital carry forwards of $86,802,042.

That the 2024 Capital Budget be adjusted to include the Off-site carry forwards of $2,125,583.

Next up for city council is setting the mill rate for 2024, which will determine what property owners owe the city.  First reading of  Bylaw No. 1173-2024 - 2024, the Property Tax Rate Bylaw was passed as a consent item.

Readings 2 and 3 are scheduled for the meeting to be held on April 29th.