Treasurer Crozier presented the 2020 financial update in preparation for the year end budget for the Township of Whitewater Region.
He said that the region is in a ‘surplus’ position of 1,371,383, and he had determined that they were ‘in the ballpark of a 500,000 surplus” for the next few months.
He said that there was the Timminco Mines were forfeited to the Crown at the end of a “nine-year issue”, and due to this will receive none of the tax arrears, which is estimated at $228,000.
He said that he was “assuming” they would recuperate money for what was paid to the mines.
He said that this would put them at “a deficit of 184,000, subtracting 130,535 COVID Operating Costs that could be funded through the Safe Restart program to come to a 55,000 loss.
He also said that there was a loss of arena revenue of 115,535.
Councillor Olmstead commented that the report was presented well, in layman’s terms.
“Maybe the federal government could use you in the coming years.” he joked.
McLaughlin asked if the property should go to the Township if it was in arrears.
Crozier said that it was forfeited to a provincial ministry because it was a mine.
“We’ll go down that avenue and see if there’s anything to recover, but I wouldn’t hold my breath on that.” Crozier said.
Councillor Nicholson asked if there was ways to remove certain portions of the property that “were valuable to the municipality.”
Crozier confirmed that “all of the properties have been forfeited to the Ministry”, not just the mine itself, and said they should investigate it.
CAO Trembley said that it would have to come back to Council for them to make any plans to pursue the surrounding properties.
Crozier said that the property has been “a convoluted nightmare for the last four years”, including misinformation about the quality of the mine.
He suggested that they increase their allowance for Doubtful Accounts, which would require an increase in revenue.
“It’s important for us to stay on top of collections and increase out doubtful collections, as it’s now in thousands of dollars instead of tens of thousands of dollars.” Crozier said.
The motion was carried.
