Estevan City Council received the audited financial statements for 2012 during its August 14 meeting.
Byron Mack from MNP filed the report for council. In his report, Mack noted that the total financial assets for the city decreased from about $14.3 million in 2011 to $11.5 million in 2012, but that was largely due to a reduction in the amount of land for resale. The City has about $3.88 million in land for resale, compared with $6.137 million last year.
The total amount of cash is about $1.523 million, which is up about $1,000 from 2011.
Estevan's overdraft was at $11.375 million at the end of last year, compared with $3.275 million at the end of 2011, as the operating fund was used to pay for some capital projects, such as the new ladder truck for Estevan Fire and Rescue Services.
But the long-term debt has shrunk to $23.77 million, compared with $27.84 million at the end of 2011.
The City did have a financial surplus last year, he said.
Mack also noted the shrinking available space at the City landfill. He suggested that council set aside money each year for the landfill, so that the City is ready for the day in which it is full. Mayor Roy Ludwig noted that once Sherritt Coal is finished mining within the landfill site, there will be a large open pit available for the landfill.
Other highlights from the meeting were:
*Councillors Kevin Smith and Greg Hoffort supplied an update on Estevan's bid for the 2016 Saskatchewan Summer Games. They said a tremendous amount of work has already been completed, and the biggest challenge will be the construction of a new track and field facility. Council approved a $15,000 non-budgeted expense for a feasibility study for the new track.
*Council ratified a human resources procedure manual that will govern policies for diversity in the workplace, corrective discipline, attendance support, City vehicle use and social media conduct.
*Twenty-one building permits, with a total value of more than $8.3 million, were issued in July, bringing the total for this year to 78 permits worth more than $22 million. The quantity and the value of the permits are now ahead of the numbers seen in the first seven months of 2012.
*Two change order requests for Estevan's new reservoir were approved. The first, for some missing components that are required for operation of the reservoir, will cost $9,363. The other, which was for work that was no longer needed, resulted in a credit of $18,568.
*A request for a residential dwelling on the main floor of 1229 Fourth Street was tabled until Estevan Fire and Rescue Services can complete an inspection. Residential dwellings have not been allowed for the main floor of other commercial properties in Estevan.
*The property at 1230 Sixth Street was sold to Mohammed Wassem for $30,004, with the condition that he grant an easement ot the adjacent property owner. The property sale doesn't cover cost of demolition and property tax arrears.
*Three readings were given to a number of bylaws. The first will change the names of Walker Road and Trout Crescent to Walker Avenue and Trout Avenue. The next one was for rezoning in the new Dominion Heights subdivision, allowing a new multi-family building to go ahead. Council also gave second and third readings to a bylaw that will give the green light to Essex Developments' Meadows Subdivision in northwest Estevan. First reading was given to a bylaw that will rezone a single-family parcel at 1825 Third Street into a two-storey, two-unit rental property.