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Oxford County councillors set to review budget and business plan

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.​

 

bruce.chessell@sunmedia.ca​

Distroscale

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