Athabasca County brought in $24.4 million in total revenue in fiscal 2012, which was $926,836 over the $23.5 million projected for the year, and $3.2 million greater than the 2011 revenue, according to the countyís financial statements released May 1.
Al Rudosky of Ernst & Young delivered an auditorís report to Athabasca County Council at their regular council meeting April 25 for the fiscal year ending Dec. 31, 2012.
The net municipal property taxes portion of the total revenue alone made up $16.1 million, or $222,689 greater than the $15.9 million projected.
Revenue was also derived from user fees and sales of goods, government transfers for operating, investment income, penalties and costs on taxes, licenses, permits and fines, rentals, and gain on disposal of tangible capital assets.
Taxation on residential land and improvements was projected to be $4.5 million, but in 2012 was $4.7, up from $4.4 million in 2011.
In 2011 taxes on farmland totaled $882,027. In 2012 it increased to $901,801.
Taxation on non-residential land, improvements, machinery and equipment increased from $15 million to $15.4 million, slightly higher than the $15.3 million projected for 2012.
A combined value of requisitions including $4.5 million from the Alberta School Foundation Fund and $622,804 from the Greater North Foundation accounted for approximately $5 million, deflating the net municipal property taxes from the 2012 total of $21.2 million to the net municipal property tax of $16.1 million for the year.
Total expenses for 2012 was $24.7 million compared to $23.8 million projected for the year and $23.2 million in 2011. The county had a lower than expected operating surplus of nearly $1 million, at $4.4 million.
The operating surplus was close to $1 million less than the $5.4 million in government transfers for capital expected, but still $700,000 more than the 2011 result of 3.7 million.
An operating surplus of $5.4 million was projected from government transfers for capital, but in fact the county received nearly $1 million less than projected
The countyís accumulated surplus, according to the notes for the financial statement ìconsists of restricted and unrestricted amounts and equity in tangible capital assets.î
Unrestricted surplus is $6,996,093, down $871,841 from 2011.
The companyís executive director gave his rubber stamp of approval, and councillor Doris Splane motioned to accept the Audit Results and Financial Statements in two separate motions, which were unanimously carried by council.
