Minto still looking at $250,000 COVID impact on budget

TOWN OF MINTO – Minto’s treasury department is forecasting a nearly $250,000 negative variance based on operating results as of June 30. 

This second-quarter financial report by treasurer Gordon Duff has a similar forecast to an earlier one presented to council back in April. 

“We certainly don’t know it all but we know a bit more than when we last did this report about how the year is turning out,” Duff said to council. 

COVID related expenses have impacted this forecast both directly and indirectly. Duff noted that it is common among smaller municipalities to be feeling the hit in facilities and recreation. 

The town has seen a reduction in program fees and hall rental revenues due to COVID restrictions and cancellations. Some of this has been offset from less expenses by the town.

There is a positive variance in water and sewer revenues which Duff said he was pleasantly surprised about. This brought the operating budget shortfall to $243,000. 

Mayor George Bridge noted that announced funding from the province can help offset losses faced by municipalities. Bridge said it’s unclear exactly how it will work and how the funds will be split by municipalities.

“Hopefully we don’t have to send a whole bunch of reports that says how much we lost,” Bridge said to council, adding he hopes it will be similar to the extra gas tax payment. “I think it’s $2 billion set aside for cities with transit and another $2 billion for others.”

Bridge said he was pleased to see that tax payments have still come in. The report shows 96 per cent of payments have been made.

“They’re paying their bills as best they can and in lots of cases, we may be a little bit better off in our area,” Bridge said to council, referring to the fact that Minto is home to farms and other essential businesses that have kept residents employed.

Bridge thanked staff and residents for keeping the town running smoothly and for their support for local businesses.