Yorkton’s Draft 2021 Audited Financial Statement Approved

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With approval, the CFO will sign the letter of representation to the auditors; and further that the final 2021 financial statements be hereby created and approved.

Also, in a related matter, Council approved the 2021 Municipal Public Accounts.

Amber Matechuk – City Comptroller, along with the City, provided the background report on the 2021 audited financial statements.

“Each year the City of Yorkton undergoes a financial audit, provided by the firm Baker Tilly,” she explained, adding that, for the year ending December 31, 2021, they reviewed our financial processes and records. .

“We are pleased that their independent auditor’s report indicates that we have complied with Canadian public sector accounting standards, and they confirm that our financial statements present fairly, in all material respects, the financial position of the City and the results of its operations for the year 2021,” said Matechuk.

Matechuk added that under auditing standards, a formal financial statement cannot be released until the auditors have received board approval.

In terms of long-term debt, Matechuk noted that the city’s debt limit is $42,000,000, but only $7,650,908 is outstanding, including $2,364,503 for the fire station, $1,707 $000 for the water treatment plant and $3,579,405 for work on Dracup.

“That leaves the city with approximately $34,300,000 of available debt,” Matechuk added. “. . . Future long-term debt requirements may be required to fund the Deer Park Clubhouse, potential Gallagher/Kinsmen Arena upgrades, as well as the rebuilding of York Road.

With respect to annual public accounts, the City of Yorkton is required to disclose its public accounts in accordance with the Towns Act and Towns Bylaws. This file includes:

* Employee salaries of $50,000 or more

* Board compensation

* Contract expenses of $50,000 or more

*Grants and grants of $50,000 or more.

A digital copy of the unicipal public accounts package will be posted online on the City’s website. If the public requests a physical copy, these will be available at City Hall for $10.00 per copy.

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