Oxford County councillors set to review budget and business plan

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County council is set to discuss the business plan and budget review for the third quarter of 2014 Wednesday at their next meeting, and the report anticipates positive year-end financial results.

According to the report, there is a forecasted variance of 0.22%, and this represents an anticipated budget surplus of $120,283.

In addition, library services reported a $17,280 year-end surplus, and overruns in legal expenses and WSIB claims will be offset by increased provincial offences revenues and interest income.

As well, multi-year construction projects approved in 2014 and carried over for completion are forecasted to be $12.9 million, and will be funded by reserves and debentures as projects are completed.

Only two departments reported a deficit in variance for 2014.

The department of the CAO had a deficit of $17,651 due to overspending in legal for general opinions, and the Public Works department had a deficit of $465,880.​




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